All Forum Posts by: Account Closed

@Daniel Machado I'm also interested in the area! Shoot me a PM to see if can help each other out :D

@Angie Tagoe Welcome to BP! I also just started investing in Columbus OH and it's been a really exciting so far.

I've been investing in Columbus, OH. Feel free to shoot me a message if you want to chat!

Hi BP,

I'm looking for advice or ideas on where to find an attorney that can help me structure my entities and shield myself from liability (inside/outside). Since I invest out of state, my ideal partner would either have jurisdiction in each of those states or have enough of a global perspective to advise me across all the states. Ideally this person would recommend me a strategy that fits my current profile instead of upselling me on the most expensive products.

I've searched and asked around my personal network, but haven't been successful so far. How did you find an attorney/firm for helping you with these issues? Feel free to send me with any recommendations.

I'm in a similar situation right now. I'm currently using Excel to track everything manually, but I plan to upgrade to Quickbooks (or something else) when this becomes no longer feasible.

I've also tried Stessa which is free and very intuitive, but I found that it was a little too rigid for me in some areas.

Hey BP,

I'm currently in the middle of a purchase contract that will use 30 year conventional financing. Today my lender called me saying that their rates are seeing a bit of deterioration. Specifically, I now need to pay around 0.5 pts to buy down the rate to what we were originally expecting. He said there are two options depending on my risk appetite:

1. Lock in the rate as is, even though it is worse than what we had originally planned.

2. Wait a few days hoping that the rates will improve. The risk is that the rates can deteriorate even further.

Has this happened to anyone else before? What is your thought process for making this decision? Right now, it seems like my decision is based on pure speculation around what will happen with the markets.

I live in CA and I was also deciding whether to invest locally or OOS a few months back. I ended up deciding to invest OOS in Columbus, OH since the numbers just didn't make sense locally. I've been working with @Remington Lyman's team and have had positives experiences so far.

Feel free to reach out if you want to connect. Looking back, I'd say getting started and taking action was the hardest part.

Hi everyone,

I see a lot of posts about people wanting to build business credit and how to build business credit, but I'm not sure I understand why you need business credit.

I just started investing and am planning to structure my business as a sole proprietorship. I have no plans to incorporate until I've reached a certain scale. Right now, it makes more sense for me to purchase homes in my own personal name in order to take advantage of my personal credit.

This brings me back to my question. Why is it important to build business credit early on and what purpose does it serve later? Second, if I decide to build business credit now as a sole proprietorship, how can I transfer that established credit to an entity when I decide to incorporate later?

Hi!

I've recently started my journey into real estate investing. I am interested in buy/hold SFH rentals and have around 30k in capital to invest. I'm looking to invest out of state because I live in the Bay Area, but I'm struggling figure out what a good market is. One thing that's been making me anxious is the uncertainty around the economy. I keep hearing that the housing market will start to decline next year which can hurt new, unseasoned investors.

Does it still make sense to start investing during this time? What are some markets that would be safer for a new investor like me to enter during this time period? How can I make sure I don't overextend myself if things go south?

Hi!

I'm a first time investor looking to buy out of state for cash flow. I recently started looking into Cape Coral market because there's a lot of new development with a decent median rent price. The population has also been increasing in the past few years, which is another plus for me. I'm interested in the market because it seems like it will be less of a hassle to learn how to manage for a newcomer like me, even though my cash flow may not be as high as other markets.

My only concern is that it looks like a buyer's market. I read somewhere that around 70% of the population are home buyers, so I'm concerned that vacancy rates will be very high. Does anyone have insight on how difficult it is to find tenants in this area? Would you recommend this area for someone who is investing out of state or should I focus on higher cashflow markets?