All Forum Posts by: Michael Soukup

So I recently just sold my home after a divorce. I plan on buying a condo that I will later rent out. I am wondering if I used some of the money I received from the sell to pay off my debt if that would be financially wise vs using it towards the purchase of my next place? I will be taking a residential loan from my TSP since by my calculations that would save me a lot of money on interest and give me good equity. Also that will give me a lower payment which will allow me to have bigger profit from rent. I know if I use all the money towards the purchase then I won't be paying any taxes. And advice is appreciated.

Thank you all for your time and knowledge.

I like to thank for everyone's input and time. I have a little bit of time but I will be able to use this information as I move forward.

Just trying to figure out if it would be cheaper to build a new place with a in-law apt in the basement vs buying something already built. Can anyone advise based on their experience which will be cheaper in the long run? Thank you any assistance.

I have been looking up a lot of properties in Northern Salt Lake County and Southern Davis County for a good move in and rent out other property and also a trailer to pay cash for to save money for down payment on a second place and etc. They all generally seem to be negative cash flow about 99% of the time. Does anyone have any good ideas on what would be the best way to start out in this area without going into the negatives? I appreciate all ideas and help. 

To Whom It May Concern,

I am looking to meet and make friends with people who are in the real estate investing business that I can learn from in my area. Thank you.

Michael Soukup

To all those that have replied,

I wanted to extend a heartfelt thank you for taking the time to provide me with valuable advice. Your insights and expertise have been incredibly beneficial, and I truly appreciate your generosity in sharing your knowledge. I will carefully consider the information you've provided, and it will undoubtedly assist me in making well-informed decisions moving forward. Your guidance is incredibly valued, and I am grateful for the opportunity to have received your advice. Thank you again for your time and valuable input.

Sincerely,

Michael Soukup

I am trying to figure out if there is a way to buy an investment property with my VA and use my LLC for the purchase or a way to transfer it over to the LLC afterwards. Is there anyone that is familiar with or at least gone through this process that can give me some tips and advice? Thank you for your time and assistance.