All Forum Posts by: Robert A. Coloma

@Shalante Davis

Yes

Call them

This is a great information. Thank you for sharing as I am also a new investor and learning as well. Now following!

@ Carlos Dacosta 

NO I did not push through

@ Elias Ordenana

NO did not. 

Does anyone in the group had any experience with Vongari Capital? They are based in CA.

I am on the process of working with them. Input and advice are appreciated.

@ Matt M.

Thank you!

@Matt M.

How do you get approval for section 8 to rent my property ?

Advise

Thank you!

@Jody Bowen

Disclaimer:

I'm not a CPA OR TAX ADVISOR

-I'm self employed my self on an LLC but tax as an SCORP which eliminates selfemployment tax

Now in real estate if you are doing buy n hold then LLC is good for asset protection but flipping an S Corp would do.

Pls consult your CPA. The right CPA who knows real estate and cost segregation a well.

Hope this helps!

@Paris Capers

You have a very good currenti tryst rate. I will not touch that.

I recommend you to do 1st lien HELOC. I'm not sure if you are familiar with it but I recommend you to do a research because most people only knows HELOC 2nd position including the banks. Advantages:

-You can use this to leverage for future investments due to the fact that is open end mortgage not an amortization. It is always available to you.

-HELOC is using and average daily balance which means you can pay off that property in the 5-7 years if you plan to own it

-COST. There technically no fees except title fee or appraisal if it's needed. Cash out refi has "hefty" fees that's include points/closing costs.

What I've learned through the years doing real estate investments is NOT anymore doing CASH OUT REFI(unless this is the only option you are qualified)

I've done that so many times(was mistske)

I'm in Honolulu and as you know real estate is as expensive it is as in CA.

I own 3 rental properties that each value 1.25M each and my primary residence that I started using the equity with HELOC.

Hope this help. You can reach out if you have any questions.

Best regards!

@ Raymond Richmond

Plastiq can only use Master Card to do the cash for down payment for a fee not with Visa. 

And how did I get 250K? I just provided them what they asked me and they issued with that amount of line.

I used them to fund for my 3rd rental property . That's why I know it works. 

Its all funded in September 2019.

I am just sharing my experienced with them. They were very professional and were very helpful and guided us all the way. Now we are working for our second round.

A