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All Forum Posts by: Josh Mac

Josh Mac has started 9 posts and replied 72 times.

Post: Where to find promo code

Josh MacPosted
  • Northwest Indiana
  • Posts 72
  • Votes 31
Quote from @Michael S.:

@Josh Mac

I sent you a message for the promo code. 

Thank you!

Post: Where to find promo code

Josh MacPosted
  • Northwest Indiana
  • Posts 72
  • Votes 31

Hello everyone,happy friday to you all!I had a quick question.Does anyone know the promo code or where to find it for the 7 day free trial for pro?I am either blind or it's tough to find,I have searched and can not find it.Thank you in advance!

Quote from @Alan Asriants:

Often times when my clients close on their investment properties, they come to me and they ask me what kind of styles should they go for when renovating their property.

After going through lots of homes with prospective buyers showing my properties to tenants I have gotten to know what people like and what people don't like.

Let's get this one right out of the way: STOP USING GRAY!

Gray was such a style back in 2018 until 2021. You would walk into any single, flip renovation or newly done apartment and you would see the same thing gray floors, gray walls, gray kitchen cabinets. For a bit it actually seemed pretty cool. But then it got extremely old and the environment felt incredibly cold.

Gray makes everything feel too dark and it doesn't invite people when they are looking for a place to live. 

If you want your space to feel inviting and comfortable to live in, you have to trigger certain emotions in people. 

Your goal when renovating is to create a warm, comfortable and spacious environment.

Typically this is done by using good lighting methods lighter colors with some sort of accent color and creating an open floor plan.

For flooring, I would recommend using a lighter oak color. But please avoid that extremely cheap Home Depot laminate. A lighter floor is going to create a more comfortable environment, but it will also create a more open environment as well.

For walls, I would recommend using an off-white for the majority of the space, and adding in a light beige accent wall throughout the home. Use flat for the walls, semi gloss, white for trim and doors, and flat white for the ceiling. The light colored walls will make the place seem bigger, and the accent walls will break it up and make the place feel more warm.

For Kitchen, you could never go wrong with White cabinets. White cabinets look clean, sleek, and very simple. If you're investing in a solid area, your tenants should take great care of them. I would also recommend going light with your countertops. If you were using a plain white quartz countertop, then you can break up the color with your backsplash and try to match it a little bit to your flooring. So if your flooring is So if your flooring is light Oak, and the rest of your kitchen is white your backsplash can implement some light, beige and gold colors. 

For hardware, go with brushed, nickel or brass gold. Brass gold is back in. But make sure it's a brushed finish not a shiny gold finish. Shiny gold screams 80s and 90s. Black was a big style with the gray arrow but to me it feels a little bit cold. Plus, it leaves a lot of stains and needs to be consistently cleaned especially near water.

for lighting it's really important what kind of temperature color you choose. Also, don't kill your apartment with Spotlights. There is such a thing as too many. Do you want to strategically place your spotlights were you would think people would have their couch, TV, kitchen cabinets, and other strategic places throughout the property. If there is a dedicated dining area, a decent light fixture is better than spotlights. For temperature color I would recommend 2500 K or 3000 K, this creates a warm and comfortable environment. LED is the best because the light will be bright. 

For bathrooms, you can use a higher temperature color like 5000 K. White walls white ceilings is great. If it is a rental property, basic subway tile is perfect and rarely goes out of style. Avoid using too many patterns on the floor tile if you already have a lot of patterns on the shower tile. ADD a NICHE!. The niche is actually a great place where you can implement some flair. Match the niche to the floor. 

Choosing a style for your property has a lot to do with opinion, but there also is an art and science to it. Follow these basic principles when making your own design but remember to add a little bit of your own creativity as well to make the property, unique. Have fun!


 Very informative and interesting post,I too was questioning this last week.EVERY rehabbed house around here is grey!

Post: Top Markets for BRRRR 2024

Josh MacPosted
  • Northwest Indiana
  • Posts 72
  • Votes 31
Quote from @Travis Biziorek:
Quote from @Josh Mac:
Quote from @Travis Biziorek:
Quote from @Josh Mac:
Quote from @Travis Biziorek:

Hey Ryan, I'd be another vote for Detroit. 

I personally have 12-doors there and focused on the BRRRR method when I was building my portfolio. I help investors do the same thing. I actually moved from the Bay Are to Detroit Metro from 2017-2022 but I'm back in CA now.

Getting all of your cash out is fantastic, but not always doable. That said, we're still having success doing it but it's become increasingly rare. I always tell folks to expect to leave $5,000 - $10,000 in a deal.

This assume you're all in for $75,000 - $95,000. 

You're $80k - $170k range is pretty wide, and I'd be surprised if anything over ~$130k ARV actually produces net cash flow assuming 75% LTV on a refi. If you're ok running slightly negative cash flow in an effort to get your capital back, that's a different story. And it will open up a few more options for you.


 Hello Travis,how many deals are you doing a month lately?And has the market been shifting overthere?


Our firm has done more than 150 deals this year already. 

We're seeing a lot of investor demand for two main reasons:

1) Folks are starting to realize Detroit's potential
2) A lot of previously decent markets no longer pencil


 Very nice!Sounds like your killing it over there.Hiw long does a deal take from start to finish?Also what grade neighborhoods are you doing?


We're operating largely in C/C+ neighborhoods. It tends to be the sweet spot in Detroit today because it offers the best risk-adjusted cash flow. And if you're smart about where you're buying there's a lot of potential for those areas to quickly transition to B-/B in a handful of years.

A lot is happening in Detroit where neighborhoods are seeing some serious revitalization. 

Typical renovation is taking us 2-3 months right now.


 Thanks for that,yeah that is a decent time-frame.How much does a 3 bed rent for out there on average?

Post: Top Markets for BRRRR 2024

Josh MacPosted
  • Northwest Indiana
  • Posts 72
  • Votes 31
Quote from @Travis Biziorek:
Quote from @Josh Mac:
Quote from @Travis Biziorek:

Hey Ryan, I'd be another vote for Detroit. 

I personally have 12-doors there and focused on the BRRRR method when I was building my portfolio. I help investors do the same thing. I actually moved from the Bay Are to Detroit Metro from 2017-2022 but I'm back in CA now.

Getting all of your cash out is fantastic, but not always doable. That said, we're still having success doing it but it's become increasingly rare. I always tell folks to expect to leave $5,000 - $10,000 in a deal.

This assume you're all in for $75,000 - $95,000. 

You're $80k - $170k range is pretty wide, and I'd be surprised if anything over ~$130k ARV actually produces net cash flow assuming 75% LTV on a refi. If you're ok running slightly negative cash flow in an effort to get your capital back, that's a different story. And it will open up a few more options for you.


 Hello Travis,how many deals are you doing a month lately?And has the market been shifting overthere?


Our firm has done more than 150 deals this year already. 

We're seeing a lot of investor demand for two main reasons:

1) Folks are starting to realize Detroit's potential
2) A lot of previously decent markets no longer pencil


 Very nice!Sounds like your killing it over there.Hiw long does a deal take from start to finish?Also what grade neighborhoods are you doing?

Post: Top Markets for BRRRR 2024

Josh MacPosted
  • Northwest Indiana
  • Posts 72
  • Votes 31
Quote from @Travis Biziorek:

Hey Ryan, I'd be another vote for Detroit. 

I personally have 12-doors there and focused on the BRRRR method when I was building my portfolio. I help investors do the same thing. I actually moved from the Bay Are to Detroit Metro from 2017-2022 but I'm back in CA now.

Getting all of your cash out is fantastic, but not always doable. That said, we're still having success doing it but it's become increasingly rare. I always tell folks to expect to leave $5,000 - $10,000 in a deal.

This assume you're all in for $75,000 - $95,000. 

You're $80k - $170k range is pretty wide, and I'd be surprised if anything over ~$130k ARV actually produces net cash flow assuming 75% LTV on a refi. If you're ok running slightly negative cash flow in an effort to get your capital back, that's a different story. And it will open up a few more options for you.


 Hello Travis,how many deals are you doing a month lately?And has the market been shifting overthere?

Post: Investing in gary,Indiana

Josh MacPosted
  • Northwest Indiana
  • Posts 72
  • Votes 31
Quote from @John Delano:

I have several rental houses in Gary, Indiana. What are you looking to do? How familiar are you with the area?


 Do you currently own rentals in Gary still?

Post: Which business entity?

Josh MacPosted
  • Northwest Indiana
  • Posts 72
  • Votes 31
Quote from @Fulton Abraham Sanchez:

@Josh Mac, hi. From tax point of view there is no difference holding the property at your name or thru LLC.

I appreciate it,Ken cleared it up nicely for me.I can't believe I never knew the difference,heck I even have an LLC lol.

Post: Which business entity?

Josh MacPosted
  • Northwest Indiana
  • Posts 72
  • Votes 31
Quote from @Account Closed:
Quote from @Josh Mac:
Quote from @Account Closed:
Quote from @Michael Plaks:
Quote from @Josh Mac:

LLC or S-CORP

There is no such choice. LLC is a legal entity that creates no tax benefits whatsoever and has no tax purpose. It is created for legal protection, and its effectiveness for legal protection is hotly debated. Search this forum for "LLC asset protection", and you will find dozens of threads.

S-corp is a tax election. You can ask your LLC to be taxed under S-corp rules. But you should not do that when you're starting, because S-corp election is only useful in very specific circumstances. In other situations, it can hurt more than help. Example: never use S-corps for rentals.

Short story: forget about business entities when you are just starting. Focus on making deals.

@Michael Plaks:

For the number of times you've had to post this, it should be required reading before being awarded a Bigger Pockets account. ;-)


 Sorry to for my ignorance Ken

Nah, That's not it at all, just having some fun. I'm poking fun at Bigger Pockets, not you. I expect questions like this from newbies, that's why you're here and that's why the questions keep getting answered. We love having new people and we were all new at one time ourselves anyway.

Bigger Pockets advertises that they have 4,000 NEW accounts . . . per WEEK. You'd think Bigger Pockets would have a thread on the most common questions. ;-) But, since they can’t give legal advice or tax advice, they could have a thread of "stickies".

By the way, your's is a question just about everybody has to ask. I answer it from the legal side (although I am not an attorney) by saying, "when you have something to protect, you worry about it". That doesn't address the tax side though. Not everybody agrees with my answer and there have been countless discussions over the value and purpose of LLCs for protection purposes.

But for taxes, the answer is a slam dunk. Asked and answered.

By the way, pro tip: "Umbrella insurance protects you better than an LLC", in my opinion and is easier to manage. Still need the LLC for banking and other reasons, but not for the reasons everybody touts.

Here’s an example

DO You Need An LLC - It Gives Me Protection, Right? My Attorney / CPA Says That. . .

https://www.biggerpockets.com/forums/311/topics/1098136-do-y...

All my REIs are in an LLC! Why am I being personally sued?

https://www.biggerpockets.com/forums/926/topics/1097903-all-...

So, welcome to the circus.

 Good morning Ken,No offense taken,and yes bigger pockets should put the commonly asked questions up somewhere.I have been misinformed for years I guess lol.But thank you for the links you left,they explained quite a bit to me,enjoy the day!

Post: Which business entity?

Josh MacPosted
  • Northwest Indiana
  • Posts 72
  • Votes 31
Quote from @Account Closed:
Quote from @Michael Plaks:
Quote from @Josh Mac:

LLC or S-CORP

There is no such choice. LLC is a legal entity that creates no tax benefits whatsoever and has no tax purpose. It is created for legal protection, and its effectiveness for legal protection is hotly debated. Search this forum for "LLC asset protection", and you will find dozens of threads.

S-corp is a tax election. You can ask your LLC to be taxed under S-corp rules. But you should not do that when you're starting, because S-corp election is only useful in very specific circumstances. In other situations, it can hurt more than help. Example: never use S-corps for rentals.

Short story: forget about business entities when you are just starting. Focus on making deals.

@Michael Plaks:

For the number of times you've had to post this, it should be required reading before being awarded a Bigger Pockets account. ;-)


 Sorry to for my ignorance Ken