All Forum Posts by: Micah Hensley

So it doesn't sound like it's too difficult of a process and likely the way to go.

Thank you!

Hello!

First of all thank you in advance for any help you may be able to give! My wife and I are looking at making our first investment in a property. It will be out of town for us, in her parents hometown. We are discussing and trying to figure out if it's better to buy them under our own name and keep them that way or is an LLC the way to go? I've heard there are difficulties when doing it from within an LLC, but I also know there is more liability outside of one.

So basically, I'd love to hear your input on benefits and downfalls of doing it either way and get some advice! We just want to set ourselves up for the best success we can!

Hello! 

First of all thank you in advance for any help you may be able to give! My wife and I are looking at making our first investment in a property. It will be out of town for us, in her parents hometown. We are discussing and trying to figure out if it's better to buy them under our own name and keep them that way or is an LLC the way to go? I've heard there are difficulties when doing it from within an LLC, but I also know there is more liability outside of one.

So basically, I'd love to hear your input on benefits and downfalls of doing it either way and get some advice! We just want to set ourselves up for the best success we can!

@Matt Crawford

We've actually looked at property in Oklahoma where my wife's parents live. Looks like there's potential for good ROI there.

I’m not opposed to raytown or independence I just don’t know as much about them to know what areas are better for looking for homes in!

@Matt Crawford

Hey Matt! No I don’t have a high income producing job. I’m a school teacher looking to replace my income! However we do have a lot of equity built up in our home, about 100k and looking to somehow leverage some of that to get started!

@Michael Tarver are you referring to having an mls search set up where I get email? If so I have one set up. Or is it something else?

@Don Nelson can we private message? I’d like to know more. I’ve wondered about some of those homes but have also been cautious

Good Morning!

So as a newbie I am curious. If I was to make the down payment on an investment property via HELOC, how do you typically go about paying it back? I know they are interest only for 10 years, but that obviously doesn't pay back the amount taken out. So do you just take it out of your cash flow? Do you refinance down the road? What are you all doing?

@Don Nelson, 

What I want to accomplish. I would like to start generating some cash flow, but I believe we will be buying and holding so I do want some appreciation long term as well. My goal is to build a portfolio that eventually supports my family. I started looking in LS because it's close to home so I know the area well and because at least for the first few we will likely self manage. 

I am also very interested in the BRRRR method as well. But right now I think something that has immediate cash flow b/c of renters already present may be a good idea just to get me started.

But hey, like I said I'm a newbie and open to advice!