All Forum Posts by: Robert Washington

The only reason to start an LLC and purchase properties under that LLC is for limiting liability, meaning its harder to come after your personal assets should someone sue you. The only reason someone would sue you is because you have substantial assets, enough for them to want money. If this is your first rental, then it would not be worth it.

Right around 3+ rentals is when you should start thinking about an LLC. Transferring properties to an LLC is very easy to do with a QCD or Quit Claim Deed. If you are pursuing traditional loans, lenders want financing done in your personal name anyway. However, if you are purchasing loans with NonQM loans, then you can purchase under LLC.

Just buy your first rental with your personal name and start building that way! Keep it simple!

In order to change the deed from your personal name to an LLC would she (or anyone) need to hire a lawyer? What is the process for this? Thanks for any feedback!

0 Votes

I've bought my first investment property through owner occupation however, I want to comment on this subject:

1) Many rookie's do no have money for a down payment. I would recommend reading "Investing in Real Estate with No Money Down" by Brandon Turner, it has a plethora of creative financing strategies for first time buyers to use.

2) Confidence. It took me a long time to muster the courage to buy my first property and house hack. Sometimes you have to just take the leap of faith.

7 Votes

Quote from @Jenna Chau:

@Robert Washington We don't have any specific features geared towards military personnel, but I would be happy to set up a meeting with you to help you get the most out of the platform.

I appreciate you asking this question, as there is absolutely room for growth in providing for our veterans.

Sorry for the late reply but I would love to have a meeting with you anytime. Mind if I DM you/add you as a friend?

1 Vote

Quote from @Jenna Chau:

Quote from @Kevin Liu:

Neat product!

What type of persona is Invelo's platform catered towards?

Hey @Kevin Liu! The platform is built off of best practices from real estate investors, but we also have a number of real estate agents who use many of the tools.

Our Starter plan (which is free) is really designed to support newbie investors, as all of the available presets are what they should be using in building lists and sending marketing campaigns.

The Individual plan is perfect for the investor who has established investing strategies and is looking to scale.

And the Professional plan is a great space for seasoned vets who need a robust system where their team can work through the entire acquisition process.

Let me know if you have any other questions!

Awesome to see a plan for newbies like myself. Is there anything tailored for military personnel?

2 Votes

Hello! I recently heard Henry Washington mentioning that he thinks BRRRR is a great strategy, however, he thinks that utilizing a HELOC would be more beneficial because you don't have to take the equity out of your homes.

What are your thoughts on HELOCs? Does HELOCS make more sense than refinancing?

0 Votes

Welcome to BP! I only have three properties so I'm a newbie myself. I don't have anything to add but I just wanted to say hello and good luck!

1 Vote

San Francisco, California

Quote from @Carl Davis:

I've also done something similar with our VA loans. There are also other zero down loans for primary residence through navy federal at a higher interest rate so you can keep house hacking.

I never heard of this. The last tie I checked NFCU is offering 5% down on primary homes.

0 Votes

Los Angeles County, California

Is there any way we can receive this notification earlier?

0 Votes

According to Fortune.com, the US will see the 2nd biggest home price decline since the Great Depression. Furthermore, top wall street firms/banks such as Goldman Sachs and Morgan Stanley expect home prices to decline between 5-7% by the end of 2023.

We don't know where real estate will end up in 6 months, I'm not sure how they came up with these numbers by the end of 2023. My question for the group: how did these top banks come up with the estimates and dates? Additionally, whether we should take this as just another prediction or is there some meat to this? Link below for the full article.

https://fortune.com/2022/10/03...

0 Votes

Reno, Nevada

All Forum Posts by: Robert Washington

Robert Washington has started 10 posts and replied 36 times.

Post: BPCon 2024 Location?

Post: Should I move my rental to an LLC?

Post: LIVE: Biggest obstacle to buying your first investment property?

Post: BiggerPockets + Invelo - Here's what you get

Post: BiggerPockets + Invelo - Here's what you get

Post: HELOC vs Refinancing

Post: Subject-to financing monthly term question - newcomer

Post: 2 va loans together : What is our buying power?

Post: Reno Real Estate Investors Meetup - October 2022

Post: U.S. housing market to see the 2nd biggest home price decline