All Forum Posts by: Rik Patel

@Shaun Weekes

Thank you for your input Shaun! Just curious, what are some good examples in real estate of when to use a HELOC?

I currently have a paid off property worth $470k that currently rents for $2750 a month and wanted to tap into that equity to use as a down payment to purchase up to a $1 million dollar property. I'll need about $350k down to purchase it.

Do you think it's better to get a LOC against the property to fund the down payment or a cash-out refi?

Look forward to hearing from you!

@Nicholas White What areas on West palm do you see the most growth in? 

@Brittney WIlliams Where are the vacation properties located in Florida? Feel free to message me.

@Jonathan Taylor

How are real estate purchases being made? I noticed if you have an LLC you will only qualify for commercial rates. If we buy in our personal name and then transfer title to an LLC, won't this transfer trigger the due on sale clause?

It seems like this is a recurring issue with a lot of investors.

Thankfully I have in full and on-time.  Will send a thank you message to the tenants as well to maintain a good relationship.

Hi All! I wanted to know everyone's experience when it comes to keeping purchases organized for multiple properties.

I have a few properties with their own bank account. Let's say property A & property B both need material for a renovation. I plan to use one credit card to buy material for both properties at one-time. When it comes to paying the credit card bill, I'm assuming I have to itemize the expenses on the CC statement according to each property and pay out each amount from their respective bank account?

How is this usually done?

Hi All! Just looking for any South Florida CPA's. Feel free to direct message me.

Hi All! I hope you are all well and safe during these times. 

Just curious what the pros/cons are of being a real estate investor and a loan originator for your own deals?