All Forum Posts by: Nick Furukawa

My business partners and I are currently looking to change one of our members in our LLC and were unsure of the necessary processes. We saw on the Secretary of State's website that it is a $1 filing fee, but did not know if there is anything additional we need to do. Any advice that you have would be much appreciated.

Currently, I have $50,000 with little to no credit history or income as a college student. I am looking to purchase my first investment property this summer. I have met with different potential lenders who have all told me I need at least 2 years of credit to get a loan without a co-signer. If I didn't get a loan and went with cash purchase on a $50k property, I feel I would not have enough capital left for rehab and other expenses. Is there any advice or references for how I can find a lender who would be willing to lend based on a high LTV and cash flow instead of credit and income?

I am currently looking to purchase my first property in Indiana. I cannot decide between two different approaches. The first approach would be to purchase a $50,000 house in full without getting loans. This would help to eliminate a lot of risks involved with my first property. Although the market is very hot and with high property appraisals, it is very hard to find a property that meets this criteria and would not need a lot of costly rehabs. Currently, I do not have an income or good credit and could not qualify for a conventional loan. The second approach would be purchasing a property that was $100,000 - $150,000 using an asset-based lender. I am not sure if an asset-based lender would be a good approach. I am also unsure how to find a good asset-based lender as well as what LTV ratio would be optimal.

I am looking to purchase my first investment property this summer in Indiana and I am currently looking into forming my LLC in the coming weeks so I can get my business bank account set up and start tracking tax deductions. I was wondering if anyone could give me advice on forming my LLC and what to expect. I was also seeing that it would be best to form your LLC in Nevada or Wyoming and I was wondering if that was true. Also, what is the best way to find a good attorney and what could I expect with pricing for the attorney?

Hello, I am currently looking to purchase my first investment property in the Indianapolis area during the summer. I am looking to get as much information and talk with other investors in the area to learn from them and get advice. I am unsure how to get in contact with other investors and unsure if any other investors would be willing to take time to meet with me. I was wondering what the best way would be to go about this?

I am new to investing and look to purchase my first property later this year. I am looking to invest in a multifamily property, but I don’t have enough money to put a down payment on a 4-8 unit property. I have been looking into all the different financing options I would have, but being 19 they are very limited. Would finding a partner who is able to fund the down payment and split the equity in the property 50/50 be possible? If so, how would I go about it? Is there a better way to finance this while keeping 100% equity in the property?

Hello, I am looking to purchase my first investment property by the end of the year. I am learning how to effectively landlord and do not want to rely on a property manager for my first property. I will be a little under an hour away from the city I am looking to buy the property in. I was wondering what would be the best way to collect rent. Should I pay around $20/month to have a website that tenants can pay rent and request maintenance through? Would this cost be a tax deduction? Should I have the tenants mail their rent every month? Do I need to set up a PO box and would I be likely to receive rent late often if it was through the mail? 

Hello, I am currently a 19-year-old college student and I am looking to buy my first investment property by the end of this year. I have been trying to learn as much as possible from reading books and listening to the bigger pockets podcast. Do you think it would be beneficial to go and meet with real estate agents in the area I am looking to buy a property to ask questions and get a more in-depth understanding of the area and its future outlook? Is that something a real estate agent would be happy to do if I am not looking to purchase a house for possibly over 6 months?  

Hello, I am a 19-year-old college student. I am looking to get my first rental property in Indiana but am struggling to figure out good financing options. I am also wondering if it would be a bad time to invest in real estate right now and if I should wait. I am eager to get my first property as soon as possible, but do not want to take on too much risk for my first property.