All Forum Posts by: Jean Claude

@David Waddleton Rochester NY is where I buy

hey Danny is this program only for first time buyers ?

Im in the Atlanta area and I'm looking for some BIG deals. I am talking about 40 units or better I also have partners interested in mobile home parks if anyone knows of any for sale !

Awesome bro ! Thanks for your insight I am going to put this in motion ASAP!

thanks for your insight ! And yes I currently do have W2 income as well

Any one know of any good tax strategists in the Atlanta area?

So I have a few rentals already but like everyone else I am looking to expand my portfolio. I have talked to a few private and hard money lenders and came up with an idea i would like to try. I have a discover card with a high limit 25k and on average would need about 5k-7k per single family residence down payment . (Upstate NY)

Discover allows you to do unlimited bal transfers directly to bank account (cash) and then you have one year at 0% APR.

My idea is bal transfer , then season funds 2 months in savings , buy and close (turnkey with tenant) 35 (max) (another 2 months)  rent will range 750 to 800.

Leaving 8 months so FAR.

Mortgage will be a 15 or 20yr (I am 24) which means as long as i can get 500 a month after mortgage 8x5 = 4000.

I come out with only a balance of $1000 when 0% apr expires.

I have reserves as well from my other properties but my mentor told me to think about creative financing . What do you guys think?  

Currently I have a few duplexes already rented and I wanted to know if I should create a holding company.

My first question is do you have to put your deed name under the holding company ? Or can you run the holding company without it.

Two will this be more tax efficient to operate and expense a holding company vs claiming it on my personal income

Currently I have a few duplexes already rented and I wanted to know if I should create a holding company. My first question is do you have to put your deed name under the holding company ? Or can you run the holding company without it. Two will this be more tax efficient to operate and expense a holding company vs claiming it on my personal income

Thanks ! I am based in ATL but I am trying to buy in my hometown ROCHESTER NY where property is very cheap. Will banks have a problem with me buying in another state?