All Forum Posts by: Jeremy S.

Make sure you talk to your accountant before you do a flip involving your LLC. You may risk having your investment (rental) income taxed as ordinary income. I think 50/50 sounds good if one is a silent partner but another option could be just for the person doing the work to be paid the same way a GC would be paid Maybe just agree that all profits from the flip be reinvested into buying more rentals

Make sure you talk to your accountant before you do a flip involving your LLC. You may risk having your investment (rental) income taxed as ordinary income. I think 50/50 sounds good if one is a silent partner but another option could be just for the person doing the work to be paid the same way a GC would be paid

Congrats on having a rental at such a young age. I would consider house hacking and maybe looking for a multi unit to purchase as an owner occupant, possibly with FHA loan. You could also start a low cost marketing campaign. A partnership would be lucrative for an experienced investor if you had a good deal under contract

How do you intend to utilize cold calling? I assume you will hire this out with a marketing budget like that? Where will you get your list of phone numbers? Have you considered tv or radio advertisement?

I disagree, I think the next time you find a deal with a $100k spread you should just wholesale it to me and forget about all that financing nonsense.

I have offered on a handful of short sale properties and I have always had my offers accepted by the sellers within a day or two.... Never did make it to a bank approval though

Hey Drew,

Welcome to the forums.  Owner occupant lending is generally considered less risky to the lender as most people in a difficult spot would stop making payments on their investment property before they would give up their personal home.

PM me with the address of this house and I would consider making a cash purchase and selling to you with a lease option if your credit and income are as you stated, and I felt the home was an otherwise good investment if our deal fell through.

Do you offer business LOC's in PA?

Yes assuming your credit and debt to income ratio are sufficient

I didn't read all the responses but this is exactly why I finally decided to hire a property manager after 2 years of self managing. I'm happy that I did it myself so I understand the process but hiring a manager has renewed my enthusiasm for REI.