All Forum Posts by: Kevin Goldman

 Thanks man, yea luckily I had great agents that do 100+ transactions a year helping me and who I know personally and trust.  we will see what happens next.

Just got back to Los Angeles from inspecting the property in Toledo...  Laundry list of deferred maintenance, looked like total slumlord status:   I cancelled escrow today.  

 Thanks for your response dude, I just invested $300k into a syndication deal in Vegas, I am looking at a quadplex in Toledo for $380k'ish that I would probably pay cash for and cash flow to gross $4250 a month, and keep the other $300k'sh invested with my manager.  I could either take a heloc out against the property down the road when rates drop and buy more properties or get a SBL to buy more.  definitely want to be diversified, may look into 2nd trusts deeds but i need to make moves soon and generate some cash flow. 

Thanks everyone for the input, i spoke to my money manager yesterday, she mentions a Secured Bank Loan as a line of credit borrowed against my investments with them. 

It would be an adjustable rate starting at current rates about 7%, with rates hopefully coming down through the next year, if I bought a quadplex in Toledo that i'm currently looking at for $380k, it would be grossing me $4250 a month with a payment back to Chase of about $2200, still in the green after insurance, property taxes and management fees, and the money i'm borrowing against will still be invested HOPEFULLY continuing to grow with the current stock market.

Anyone ever bought a property with an SBL?

 Thanks for your response and info Bhargav!

I have been sitting around and lost out on some multi families in the markets i'm looking at investing in.  I have about $1mil from a sale that I need to put to work.  I live in Los Angeles and do not want to buy in california.  I have been thinking about renting a place for myself and putting the $1 mil to work in real estate investments but diversified in markets, and direct syndication.  i've been in analysis paralysis not wanting to squander this amazing cash out return I got on a property.

I have been trying to figure out if i should look into loans and buying more property for less carry a mortgage and utilize that debt in the future, or just say screw it and buy a couple 100k-300k properties all cash and 1031 in 2-5 years.

any input or guidance on helping me make my ADHD mind up would be great!

I have an agent friend and investor helping me in Toledo Ohio as toledo has great cash flow opportunities.

 Thats exactly where i'm currently at

property taxes were $600 a month.

insurance was $220 a month

so in reality netting...  $4,380

spent $7,000 painting the house before I sold it, and replacing some hardware

the money is currently in an account getting me 5% untill i make a decision...  I'm looking at investing out of california at nevada, ohio, alabama, arkansas maybe florida...  Trying to find that 1% RTP, after now losing the $5200 a month I was getting.  The property was owned with no debt so it was all cash flow.  I want to find something that will be the same situation... My friends in Toledo are getting are getting 1% monthly RTPS on almost all of their 22 investment properties there...  the only downside is the appreciation outside of California sucks.