All Forum Posts by: Martin Nowak

I need an experienced real estate veteran to advise me… I have a small outdoor bar business that does well when the weather is good. However, living in Columbus, Ohio, the weather is unreliable. I desperately need to build a building that will be shelter from the elements. Any advice on how to raise capital to do such a project?

That title is a reference to old punk rock song. 

I’ve had an investment friend suggest I sell my real estate holdings which is 5 singles family homes. 
He made a suggestion because of rising interest rates and home values being historically high. 

a snap shot is as follows:

 I have 100% occupancy. My positive cash flow is 3K a month as 3 of 5 are paid off. Before taxes and mtc.

If I sell - how can I grow my money after?

What rate will my capital gains taxes be?

Many questions…. 

Thanks in advance.  

I have my sight on place that's 68K cash offer (funded by HELOC - It needs about 20K worth of work. My rough estimate market value will be 105-110K after renovation.

With 88k in how would I calculate my refinance /pymt to see if it’s worth investing into?

Would I need money down for refinance? Does it seem realistic I can get 88k out to payback heloc?

@Mike S. Thanks for your reply. So a few questions to clarify. What is a WD? So basically, I should keep the operation in the LLC . the property is owned solely by me. I'm the only one on mortgage. So should develop a lease between the LLC (restaurant operator) and me personally? Would that keep our other assets protected?

@Samuel Yoon my first place I put trust into a realtor who acted as buyer/broker. He said you have to see this house before it goes on sale! I saw house and seemed decent. He showed me how I’d get positive cash flow. I bought it as-is. I learned weeks later the basement was covered in mold. They had painted the ceiling black to hide it. Cost me 11k to have house remediated.

I own a property that is zoned commercially. I want to put a business there. My wife has an LLC she established several years ago. I'd like to transfer the property into the LLC prior to beginning the business. Ex: food and liquor licenses. I do carry a mortgage on the property. How do I this and any suggestions? My goal is to protect my other assets and primary residence if the commercial failed or had issues.

Thanks.

I have a property I’m in interested purchasing for an investment property. The price is 68K.

It will likely require improvements of $20,000. My hope is pay for with a HELOC line of credit. The improvements I would put on a credit card - then my goal after I completed the improvements have it refinanced for the new market value. After the refinancing pay back my HELOC and the credit card. Does this seem like a smart idea or is there a smarter way?

This makes sense  - thanks

Thanks this is helpful - 

I need some experienced advice. I have a piece of commercial property I acquired with the intentions of building a beer garden. I want to build a 2000sq ft building. My rough estimate is 400K to do so. Or my other idea is to build the building larger with apartments above.

Currently, I own 5 rental properties, 2 of which are paid off and the land which I carry 103k on. I’d really like to leverage the equity and build a building but my cash flow is weak since I have a son in college.

Thoughts?