All Forum Posts by: Melody Kushi

@Angela Lucas good luck on you RE journey!! And welcome to BP. I’m also a rookie here and am looking to start on the rental side.

As for that man, he sure needs to get a life. Maybe a girlfriend...or a boyfriend...don’t matter to me, he just needs some love. @John Thedford sending you some hugs and kisses xoxo

@Tim Bradley this is the best post to follow!!! Very entertaining and educational!

@Alyssa Coffey I wanted to know if you've been managing your own flips? How's that going? I've started to place offers and slowly building a "team", but have yet to see their work with my own eyes. I've read reviews and have been forwarded photos, but have not touched and felt their work yet. 

Any luck finding a reliable GC?

@Jonathan R. You hit the nail in the head!! They say the richer get richer, while the poorer get poorer...as investors, sometimes we need to step back and realize how blessed we are to be able to invest, and see that FinanciamFreedom is at the end of the tunnel. But, we can’t forget that some out there don’t even know where their next meal will come from.

We should be here to help and serve, as much as, invest and profit.

I wish you nothing but great success!! And a happy heart!!!

@Wayne Brooks yes, this was my primarily residence since the first day purchased. That is great news that it is tax free.

@Brent Paul @Will Barnard I am definitely in search of a great REI friendly CPA in New Jersey before I take any steps. I want to make sure my money will work for me, not the other way around.

Appreciate all the advice.

@Shane Boyle great energy put out there! I’m a new investor as well...going for the rehab route to start and build my buy-and-hold portfolio on my way up.

What meetup are you going this Saturday?

Hello BP Community!!

My wife and I decided to sell our home and invest whatever profits came out of the deal. In the meantime, I have been binge watching YouTube videos, networking at REI events and attending any seminars that pass through the Tri-State area.

Our home sold within 2 weeks in the market and we will close in the beginning of November.

My question is: we created an LLC to support our future Rehab and Flipping dreams. Should the profits go directly to this business account for future down payment?

Do we have capital gain fees because we sold 1 month short of 3 years in NJ?

How does this (LLC/sell of our home) affect our personal taxes?

When is a smart time to create a C-Corp? Asking since, we will like to at least have another LLC created for a rental property in the near future.

Any other recommendations to do with the profits?

Your help is greatly appreciated!

@Skyler Mckinney for a guy who had absolutely no tools, this house looks great!!!!! ;D

Hi BP Mates,

My business partner, who we share our LLC (50/50) has not used her FHA loan. She does not want to use it during our investment ventures. Does this mean, I will have to remove her from the LLC in order to not jeopardize her future FHA use?

We will be applying for Private Money Lenders for rehab loans. Will be selling and/or renting these properties, depending on the numbers. But, none will be owner occupied.

I've spoke to a few Lenders who have confirmed that this won't be an issue since the loan won't be hitting her credit. But, some have told me the exact opposite.

Your help will be appreciated.

@Sean Tippens as long as they pay the rent and take care of your property, I don’t see any issues. They are, after all, believe it or not, “patriotic” or not, human beings just like anyone else.

They need a place to live, a place to raise their children. And trust me, they will probably take care of the place more than the “citizens” of this county.