All Forum Posts by: Rick Dreyer

Hello, my wife and I have an LLC with an S Corp election. We were told that our filing would be due mid October since we filed an extension. We have now found out that S Corps are due in September instead

We are.looking for someone who can help us file by the deadline date. Moving forward, we are also looking for someone who can help us with tax planning. If you are able to help, please let me know!

My fiance and I are renovating an old church that we will turn into a wedding venue/AirBnB. The building is currently zoned commercially. There will be three full bedrooms and a full kitchen

We are looking for creativr financing options to pull our equity back out of the property so we can move on to other projects. Our question is, do you know if we can get a residential loan on a building that is zoned commercial? If possible, we'd love to refinance as a secondary home, as we could definitely stay at the property 14 days a year

Any insight or suggestions would be greatly appreciated

@Kerry Noble Jr yes if you find the name of it, let me know

@Kerry Noble Jr any ideas on how to find a lender who will do that?

@Scott Weaver Hey Scott, send me a message if you'd like any info. I moved from Colorado 7 years ago and have been investing in NWA since. I've also got my real estate license if you're needing help here

Looking for recommendations on possible financing options for a wedding venue my fiance and I own

Background: we both left our W2 jobs in 2021, and started our own company renovating homes. Our first year, we made over $400k. Our second year, due to tax write offs, we made $80k

We purchased an old church and have turned it into a wedding venue. We have a lot of our capital tied up in this project, and are wondering if there are any options available to us to pull at least some of our equity out of the project, so we can use it for other projects

This building has never been a wedding venue before, so there will be no history of income on it. If you have any ideas for financing options, please reach out to me, and I can send you any additional information needed

Thank you in advance!

@Brandon Still im late to the post, but welcome! I'm an agent / remodeler in the area if you ever need anything!

For those of you following the BRRR method, or buy borrow die, etc, could you share how you have been able to get multiple refinances, or mortgages on your properties?

We would like to hold onto as many properties as possible, and just refinance them to pull out our equity as possible. However, we're worried that lenders will look at our portfolio and see all of the debt we have, without seeing the income

For our market, the rents really only cover the mortgage, but appreciation is one of the highest in the country

@Jingjing Yu where did you take your exam? I thought they had closed exams due to Covid

I hate to recommend more people come to the area, meaning more competition, but Northwest Arkansas is a great spot. Affordable housing prices, with relatively high rent prices. Low vacancy rates, and multiple fortune 500 companies in the area, always working to improve the area