All Forum Posts by: Account Closed

Haven't listened to them all but I've listened to BP Podcast 179: Doing the "Impossible" by Buying 100+ Units in His First Two Years with Dave Hensel a few times and I love it. 

This guy just takes Real Estate Investing head on when he began and did some major power moves later on in his investing career that make you sit back and think "wow, if he did it, I can too!" ... I'm sure that's his quote somewhere in the podcast, really motivational and definitely makes you think outside the box. 

 Ditto.

@Charlie John,

Loved your advice, thank you!

@Steve Vaughan, 

Great advice, thanks again. 

@Steve Vaughan,

If my partner and I plan to exclusively work with our own money for down payments and then small banks for mortgage loans, would it make sense to stay away from an LLC regarding buy & hold to take advantage of the long-term Fannie financing options?

Another newbie question we've been considering is how difficult will it be to get a bank to give us the mortgage loan and THEN another loan for rehab? ... maybe that's when we'll need private/hard money lenders?

Again, Steve, appreciate all the insight, going to look into an LLC taxed as a corporation as far as flipping goes. Just still a little confused which direction to head as far as buy & hold goes. Thanks.

@Steve Vaughan, 

Thanks so much for the quick reply. I'm going to look into Tenants in Common with a Joint Venture, seems it fits best for what we plan to do regarding buy & hold. As far as flipping goes... I'm imagining my partner and I would want to go together on this as well, would we use an LLC for that?

Hello everyone on BP! 

My name's Richard, I'm currently researching and networking before investing in Middlesex County of beautiful New Jersey. I'm new to real estate investing and am currently debating whether or not it is worth it and/or beneficial to set up an LLC before getting started. My plans are to do buy & hold with a partner but we are also not ruling out flips if the opportunity comes across us.

Is it too early to be thinking this? Should I do my first deal and then consider it? 

Any advice is greatly appreciated, really love the community here and all I've learned thus far.

P.S. if you're local, shoot me a colleague request!

Thanks everyone.

I would politely reach out to your former tenants if you're feeling doubt, friendly inquiry on the matter coming from you as a person not so much you as the landlord. Good luck.

Maybe try giving school a break for now, you can always go back to pursue your degree. If I were you, I'd get my real estate license, learn as much as I could about whichever market I wanted to enter and start saving heavy to later use for a down payment. Regardless, you're young, focused and it seems like you're on the right track. Best of luck to you.

"My 14 year old just bought another pair of shoes!" haha, excellent story.