All Forum Posts by: Rich Ortega

Does anyone know from experience or has any research been done to see if there’s a difference in response to 800 numbers versus local numbers?

I could have swore I heard repeatedly the rule is 1% of the investment is what you want in monthly rent. On one of the podcasts I heard the other day they said it’s the 2% rule. Which one is it? Obviously 2 is better than one but is 1 a good base and up from there is gravy or is the minimum?

Sorry in advance if this isn’t the right category. I suck at picking them.

My question is about splitting profits on a BRRR. My partner will be putting up the money to purchase a rehab. I will be doing the leg work. After we refi should there be a split in the equity that comes out or from the rental income or both?

@Michael Plaks

Ok thank you

@Ashish Acharya

Thanks for the response. Fix and flip will be the business. I'd like to fund the LLC and be able to write off website, phone, advertising, and vehicle expenses if possible. I just want to make sure there won't be any flags in the event the business doesn't have an actual income this year.

@Lance Lvovsky

Thanks for the response. Would you mind elaborating?

Just starting out. Going to file my LLC by the end of the week (8/10/19)....Going to fund the start up of my business (marketing, website, phones, etc) week by week using money from my paycheck....I will structure the funds as equity not a loan...What are the tax implications of that, especially if my LLC doesn't make any money this year?