All Forum Posts by: Lindsay G.

Hello,

I'm wondering what my next/first move should be. I have about 600k to start real estate investing. 250k of that is savings and 365k of it is a HELOC. I am interested in buy and hold multifamily investing but am really open to anything. I work full time making over 500k per year. I currently own my home.

These are my goals:

1. Ultimately to make enough money in RE so that I can cut back on my hours and scale quickly

2. Buy another primary home (will rent out my current multifamily) within the next year or 2

3. Buy a second vacation home which will also be a STR which I want to do immediately

I was planning on using my savings for the vacation home and my HELOC to start buying properties. Would you put 20% down towards multiple properties at once? Use the entire amount as a down payment towards a larger property? buy places cash and refinance? Become and investor on other projects? I just don't know where to start.

Any advice would be great and I am not limited geographically.

Thanks!

Hello, I am in a position to make all cash purchases for rental properties (either turnkey or recently updated, NO rehab) using a HELOC. What is the fastest way to get that cash back to pay back my HELOC after purchasing? Is there still a seasoning period when a purchase is all cash? Do I get a private lender first and then refinance with a bank if I do have to wait for a seasoning period? What if I'm using a LLC? Thanks!

Hello. I'm looking to buy my first STR. I am looking out if state. How realistic is it to buy/furnish/rent a place without seeing it in person? (ie have realtor FaceTime me/send video's of property, use a furnishing company, hire full time property management). Thank you!

I have a question. I want to put my rental in an LLC. What exactly is the process for that? Do I need to involve my real estate attorney? I have an LLC for consulting. Can I put it in that or do I have to create an LLC for real estate? Thanks so much.

Thank you very much!

Ok good to know! Thank you so much. I will look for a CPA that specializes in MA. 

Yes definitely getting mixed responses. I know that I can’t for my primary resident but thought the renovations I did for the rental unit would count. I’m not sure. Definitely hoping for some helpful responses. 

Hello. I am almost done completing a half a million dollar gut renovation on a 2 family. I will be living in one unit and renting out the other unit. Am I able to  write off the renovation expenses for my taxes? One CPA I’ve been working with said I can only write off the depreciation. I’ve talked to multiple other people who say I should be able to write off all of the renovation expenses. Do I need to find a different CPA that specializes in real estate? I’m in MA. Thanks!

In your example it looks like you would have 35k in equity. 140k-105k = 35k unless I’m missing something. 

Hello! I'm planning on starting the BRRRR strategy for out of town properties next year after I sell my condo. I will have a fair amount of cash to get started. A few questions. 1. If you have the cash is it better to use it for these instead of initially financing?

2. Is there still a seasoning period for refinancing with a conventional loan if you pay cash for the property? 

3. If I do delayed financing to get my money back quicker, should I still be looking to refinance once it's seasoned to get more cash out if 100% of the HUD (including rehab costs) is less than 75% of the LTV (which obviously I hope it is) ?

Thank you!