All Forum Posts by: Jeff O'Shea

If i move to the commercial side, and do a blanket mortgage, how does that work? Do I have to close on each property again? I am approaching 10 properties within the next year or so (hopefully).  I just didn't want to have to reclose on each property and pay closing costs 10 times. Thanks for any advice 

Does it make sense to start an LLC or just continue to own / buy under my name and pay for umbrella coverage. I am always looking to continue to grow my real estate portfolio and wanted some advice on if it makes sense to start an LLC? With the LLC the mortgages become commercial and the interest rate is higher but I am also protecting my personal assets. Also if the homes are under the LLC, how does that work if I wanted to do a cash out refinance? Under the LLC will each property have a mortgage or will it just be one large mortgage for all the properties in one? Thanks in advance

Does it make sense to start an LLC or just continue to own / buy under my name and pay for umbrella coverage. I am always looking to continue to grow my real estate portfolio and wanted some advice on if it makes sense to start an LLC? With the LLC the mortgages become commercial and the interest rate is higher but I am also protecting my personal assets. Also if the homes are under the LLC, how does that work if I wanted to do a cash out refinance? Under the LLC will each property have a mortgage or will it just be one large mortgage for all the properties in one? Thanks in advance.

I have considered that but seems crazy to pull money out of 401k in the middle of a Bull Market. Anyone who did that over the past year really left a lot on the table. I feel there are more creative ways. But that's just me.

2 family you should be able to clear $700-$800

I'm looking to purchase another 2-4 family rental property in the Albany NY. I could possibly use a cash out refinance, although I would like to get the property paid off in full before I do a cash out refinance. If I wait, That would allow me to purchase two more locations instead of just one. Reason being is don't want to keep paying closing costs. Anyone know any private lenders in the Albany NY? I don't want to get locked into borrowing money for 30 years at a 7-8% interest rate which also charges a penalty if it's paid back early. Any ideas would be appreciated. Always looking for the best way to continue to grow. Thanks in advance..

Is $350 cash flow worth spending $72k?