All Forum Posts by: Michele Wax

Interested in helping you find financing.

You have to sit down and write out what each of you would like to do and start negotiating from there. 

If you get to 8 properties then it would be time to definitely sign the papers as a partnership to go on investing .Here is another downside you buy a property in your name for 100 k each of you pay in 50 k and then he buys a property for 100 k and again 50/50 with that one in his name.  Your neighborhood becomes a great place to live and his place is loosing value.  Literally at this point you have more money than he does coming in How do you deal with that?  I would say buy a property together make sure your both on it. Then after that one is making some money for you an  you are seasoned, start the partnership.

That is just one option and there are other options. 

A bridge loan is a type of short-term loan, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing.[1][2] It is usually called a bridging loan in the United Kingdom, also known as a "caveat loan," and also known in some applications as a swing loan. In South African usage, the term bridging finance is more common, but is used in a more restricted sense than is common elsewhere.

Yes usually seller financing is done with a balloon due in 2-7 years.  If the interest rate is lower you can try to get it longer than 7 years but most times it is not the case.

I think that you should do some more research and find you team as they say. 

Starting off investing in a city far away is hard.  

I think you should look for things on the outskirts of the area you live.  

I currently live near Kalamazoo Michigan. A single family house in a great neighborhood could go for 1/2 million. But if I go a little farther away from town I could find a deal for around 100k for the same size house....Having said that the house might not be designed or decorated a well as the other. But it will have the same bedrooms and bathrooms etc often with more land attached.  

If you have any questions or need more advice pm me.

I would be interested in talking with you more about this. 

I agree get a business account and then a line of credit for the business. If you have personal experience in real estate it will help.  I don't mean you bought something but if you worked with something affiliated you could use those credentials to your advantage.

I would love to talk to you about your options. Please pm me.

Hello BP,

Finding the right fit for you or your company may be more difficult than you think.  If you are in need of financing or accounting services please contact me at 331-998-0370. or email me at [email protected].

Depends on a few variables. I think you need to know the laws of your state/city about the air bnb. If you use a tax return and showed a profit from the air bnb it would be taken into account if you were under an LLC or a Corp.

I would be very careful about the laws of your state/city if you are renting it out as a air bnb you could get into trouble depending where you live.

I did a quick search and I found this https://www.charleston-sc.gov/1520/Short-Term-Rental-Ordinance-Process do you have a short term rental permit?

If you are not legal you will be getting shut down as per the new law in the city.