All Forum Posts by: Christopher Lane

Hey team, so I am looking to put offers on multiple listings.  I want to do this because they will all likely be lowball offers and most will not get accepted, but I'm hoping that some will.  With that being said, can I do this? Is this allowed?  Why should or shouldn't I? If I get multiple offers accepted, am I obligated to follow through or do I have the right to pull out?

Bonus question - What is the lowest % down on a commercial loan?

Hey guys and gals, I'm putting an offer on a place in PA and the realtor is having difficulty getting into the house so she can facetime me the inside. The tenants have been stalling for the past 2 weeks. This would be my first investment property. It is listed at 60k, I'm offering 50k. Tenants are currently paying $1100 a month in rent so it is a good cash flowing property. From the previous pictures, there will be some repair needed - eventually. Not right away since the tenants are long term. I'm hoping to BRRRR this in the future.

Is this tenant issue indicative of something?  Intuitively it tells me they're messy but if they pay, then they pay.  

Joe, insightful questions. I guess they are just arbitrary numbers to shoot for, my money goal is $30,000 a month, no matter how long it takes. That would be my freedom number. I have the opportunity to buy a property that cash flows about $500 a month for $55,000. I am curious if that is a good deal or if I can find something better, so far that's the best deal I've found but I'm unsure if my criteria needs to be changed.

Hey all,

My goal is to get 10 SFH's this year. I want to set myself up for high equity so in 2020 I can start going into the Multi Family game.

I am looking to scale large and hopefully own 100+ units by 2025.  Is this realistic if I leverage my earlier investments?

How soon can I see say, $30,000 a month in gross cash flow?  What is a good cash flow amount for a house that costs $60k?

What do I need to consider? When would I need to incorporate an LLC?

Thanks all,

When would be the best time to incorporate an LLC or some other business entity? Is that the only way to receive tax benefits?

Hey gang, I have a question to pertaining to the business side of REI.

When do you find it necessary to hire people to do things like accounting, incorporating LLC's, acquisitions, (if you own out of state do you have someone manage the local property managers?) Management, things like that. What over things am I forgetting?

Do you rent an office?  Do you have them all work virtually?

I am planning on 10+ single family buy and hold units this year in more than 1 state that I don't live in.

The last thing I want to suffer is a catastrophic success where I can't grow as fast as I want due to my own limitations.

Thanks for the help.

Cash.  Cash All day.  With the market where it is, it would be prudent to get cash now because when rates go higher, prices drop, save now and 2020 go on a shopping spree.  

There was just a recent BD podcast on this.

Hey PRO's, I'm new to being pro and curious to see the difference in answers from the pros vs the general population.

I want to invest in a SFH in Pennsylvania. I'm stationed in Kuwait and was wondering what the implications are when it comes to buying a property on the other side of the world. I plan on having a family member go check out the property, I expect my PM to send me videos, and pictures of the good the bad and the ugly.

Will I need a POA? can I just do e-sign docs for the whole thing? are there things I need to think about that I'm not?

This would be my first rental property, and my second home purchase.

Thanks!

@Dennis M.  mid to low C neighborhood, currently rented for $1100 each.

Hey Team, I took the plunge and went PRO, Similar to Cortez burning his ships I am here to stay so I better make it work.

I am curious about creating a Corporation.  I have no properties other than my primary. But I want to get 5-10 single family buy and holds this year, and move to 4 plexes or more ASAP.  

I wonder, what's the best legal structure you've seen and what works for you?