All Forum Posts by: Richard Phan

@Andrew Postell

Im going to bring this up to my agent and see what she thinks. Im planning on buying a rehab property with cash and this method makes so much sense. Just kinda surprised I don't see this floating around a lot more. Thanks Andrew!

Is this method a commonly used method by investors? It makes too much sense imo for it not to be used, yet I haven't really heard this method being used from any of the investors I've talked with. 

I'm just beginning to learn all these financing options to decide how I want to purchase my first rental. This method seems to make a lot of sense and extremely effective. Why have I not heard of more investors using this method? Just curious.

Is it basically creating an LLC. Using my own funds to deposit to the LLC (Is this step necessary?)

Buy a property with cash, using the LLC to file a lien on the property so you are getting a loan from the LLC.

Refinance, the lender pays the LLC and you essentially get your funds back?

Im really interested in this method for my first rental property. Has any done this and can go into some of the steps in more detail?

A little off topic, but I have read a few differing views about getting an LLC. Should it be registered in the state where the property is?

I'm a beginner and come across wholesale deals I see from being on mailing lists etc and would like to get some help on an efficient way to decide if I should put an offer or not. For example, I have a realtor I came in contact with for a city Im interesting in purchasing and they are willing to help me look at homes and send me properties. I see a few homes for sale from a wholesaler who has listed the ARV, comps, rehab estimates, rent etc. Do you normally shoot this info over to your realtor to get their input, or what specifically do you look at to run any numbers to see if it's an opportunity worth pursuing. I know the question might be a bit vague, but Im basically looking for any advice on how investors generally look at numbers for a potential rental, in my case (buy and hold).

TIA!

I am a beginner looking for some tips also. Didnt know that finding a PM should be a priority. WIll look into that. I was under the impression of finding a good realtor and lender. 

Aside from BP, can someone suggest a few websites that might be useful and help decide whether or not a property is worth pursuing?

Thanks

I have a friend who is thinking of selling his 4 bed/2 bath investment home in the Memphis area. The home needs some work to update things. Anyone know a contractor who might be interested in taking a look and providing an estimate? Main concern is finding a contractor that will do the work and is reliable. Thanks in advance!!

A little off topic, but what are a few sites that anyone can suggest to look at some metrics of an area? Job growth, income, etc...

What do you all use VAs for? Sorry for the beginner question. Seems like they are invaluable.