All Forum Posts by: Michael Mignogno

 This makes sense, thank you

Michael I shot you a message, thanks for the response!

 Thanks Issac.  Shoot me a message and we can exchange details.  I have a few properties I am weeding though now, but would love to get more info about your lending criteria.

To all the lawyers and accountants or really just anyone who has managed to successfully do this, is there any way to switch a property to an LLC without paying transfer tax? I am the sole owner of the property as well as the sole proprietor on my LLC, so I wasn't sure if that could help avoid the tax.

Hi Everyone, I have never used the 1031 exchange, but recently decided to place 2 of my rental for sale. Can I use the profits as a down payment for either a commercial loan or a HML? This is new territory to me so any info you have would be greatly appreciated!

TIA!

 Yes Sean, that is mostly the strategy I am taking so I can assure a path to finance prior to making offers.  I am using a local bank he who i am forming a good relationship with but their products and loans are more geared towards traditional residential loans

@Conner Olsen Thanks for the tip.  I will def starting reaching out to more local bank.  Are these commercial loans requiring 30% down?  What kind of rates/terms are you seeing?  I would be very interested if a bank offered a type of commercial home+renovation loan with a fixed rate.

Thanks Matt!  Great advice. I may be interested in using Freedom Capital Funding as well.  Are your services avaialble in FL?

Hi Everyone,

I am somewhat newer to Bigger Pockets, so forgive me if this post has already been made. I was interested to get some feedback on BRRRR with the intentions of using the property as a STR. Also, when planning to finance these deals with either HML or OPM, any good pointers? Do you prefer HML or OPM? I am currently searching for deals in Western Florida around Tampa/Sarasota region.

TIA!

Hi Everyone,

Unfortunately our CPA passed away this year and we are looking for a good CPA that specializes in or atleast has a good understanding of filing taxes for those who invest in Real Estate.  I am located in PA for the time being, but I am open going out of state if possible.

Thanks!