All Forum Posts by: Jeremy Barren

@Yonah Weiss

I have my B.B.A and Masters in Finance. I would say that having a foundation in finance/accounting has proven useful. General tax accounting, deal analysis, and deal financing comes relatively easy, which is comforting! 

Hi BP Forums! For those of you who have properties in multiple states, how do you structure your LLCs (or other entity)? I intend on purchasing in more than my home state and am researching what are the better states to form an LLC in. Do you have multiple LLCs formed in each state that you invest in or just a single one? If you have multiple LLCs, do you have a parent entity that houses them?

Thanks in advance! 

- Jeremy

Hello BP Forums. I am starting off in REI and will be purchasing a first rental property in early 2021. I am going to partnering with another individual and we were curious about whether to LLC now or wait. Between the two of us, we have ~$425K in starting capital and intend on scaling fairly quickly (and cautiously). Our goal is to have 10 units within two years. Since our goal is to grow with speed, does it make sense to form an LLC prior to our first purchase, and if not, why? We will likely not be going for a traditional mortgage, but rather investment loans. We understand the costs of forming and maintaining an LLC, but wanted to know if there are any other challenges associated with having one? If we chose not to form an LLC, can both my partner and I write-off the same amount of expenses for tax purposes as we could if we had a legal entity formed? Are there any issues in accessing financing if we are able to make 20% down?

Thanks in advance! 

- Jeremy

Hello! I am looking to invest in property in one of the surrounding markets in the Portland/Vancouver area in the upcoming year. As preliminary research, I have been running various properties that fit my investment criteria ($250K range, single family/townhouse/multifamily, built after 2005). I am curious about what different ROIs the forum earned on their properties and what lead to the success (or shortcoming) of the investment? I want to set realistic goals, as I realize this will be a learning experience as much as an investment. Hoping to gain insight from other's experience. 

Thanks in advance! 

- Jeremy

@Brad Hammond Thanks for the reply. From the research and feedback received, that seems to be the consensus. We are planning on covering the first property upfront costs out of pocket and aim for a conventional mortgage and then look to refinancing options to cover our 2nd and 3rd (maybe even 4th, if lucky) properties. Seems to be the logical method for scaling effectively! 

@Austin Youmans Curious why you would stay out of the Portland market? My initial impression when looking at potential opportunities was in the same sentiment as I found Portland to be pricey, high HOA fees, and relatively challenging regulations.

@Alex Olson Thanks, good to know! 

@Rich Kniss Can you expand on the process of getting a HELOC (rates, time period, etc.)? Are they fairly easy to obtain after purchasing the first property? Does the equity on the property have any impact on the HELOC amount that will get loaned?

@Alex Olson New BP member here! Planning on investing in my first property towards the end of this year. Do you happen to know how much landlord's insurance adds to monthly expenses? I am looking to do something similar and have built-in property insurance into my cash flow analysis, but didn't consider the additional cost for landlord insurance.

Thanks in advance! 

Hello BP forum! My name is Jeremy and I am currently a 29-year-old student finishing up my Master's in Finance in Portland, OR. I intend on investing with a partner in real estate in the broader Portland/Vancouver market towards the end of this year. This will be my first property investment and my goal is to scale to 3 properties within a 2-year time frame. 

We are targeting a multi-family or SFH as the first purchase and would like to scale up the unit count from there. When getting an investment loan for a second purchase, is it more beneficial to have cash on hand for a 20% down payment or to have more equity in the first property purchase?

Additionally, my partner fully owns his home worth roughly $400K. We are trying to learn at what point, and for what reason, it makes sense to refinance his home to support future growth. Specifically, if we can cover up to X% of a down payment on future properties, what would that X be? 

Thanks in advance, learning a lot from this community! 

- Jeremy

@Austin Youmans I have heard from numerous sources about landlord regulations in Portland/Oregon. Curious what the main downsides are vs. investing in Washington and whether or not there are mitigation strategies?