All Forum Posts by: Oleg Shalumov

@David Smith I had a similar dilemma ... for me it was a question of it you would leave the foundation after the flood, or does the property needs to be completely renovated. 

@Joseph A., sorry that should have been addressed to @Bruny C. but thank you for the respond. 

@Obed H. Bey probably the best way to start is househack. If there is way to purchase 4-Plex and live in one unit, that would be the best way to start. 

@Jonathan Buckelew MLS is a good start, but the counties website is probably your better option.

@Aristone Louxz as long as the investment cashflows you should be good. Check how often the HOA fees have been raised in the last 5 years, and have some buffer in case it going to be raised again shortly.

I understand but it would be tough for you to get conventional loan on LLC. The only way I see it is if you can get it from small local bank, or Credit Union in the area.

If you could some way figure out (maybe with the help of an attorney) to buy without using LLC, that would make this an easy solution.

@Alan M. first of all sorry about your loss. I know it is not so easy to lose someone that close. 

It sounds you have a lot of equity available, and from what sensed in you post you would like to stay passive. In this case I like you friends idea of investing with a few syndicator (like $100K each project).

@Joseph A.  what is your backup plan? 

What if you are not able to rent the property fast enough? 

What if the rehab takes longer than expected? 

Do you have a any money in reserve or you can borrow the money to cover HML if needed?

Just want to make sure you have all bases covered. 

@Todd Heitner why would someone pay a monthly fee for a website? Once the website is build, there should be no expenses associated with it.

@Angeline Mentor WordPress nowadays have plenty of options, I also have some people on Fiverr, it is one time fee for building the website for them, but you do not need to pay monthly fee. 

If you would like, message me and I will provide you their contact