All Forum Posts by: Azita S.

@Dion DePaoli 

My LLC is a dental practice and the lender I spoke with today said the proceeds can be used to expand the business or fund retirement account such as 401K and according to him, purchasing real estate investment property qualifies as retirement funding.

@Dion DePaoli   @Albert Bui 

Here is what I found on the lender's website

.
With financing based primarily on the income of your practice

I'm not looking to finance any of the houses with conventional real estate loans, I just don't have the patience of dealing with lenders per property and their underwriting departments and fees at this point. My goal is do to cash purchases. 

I need to explain myself better; I want to take out two loans HELOC and the Performance-based lending. According to my calculations and research, between the two loans, I should be able to do cash purchases on all 15 properties.

Dion : "If we use the general metric of the 50% rule, you would net about $54,000 in income before debt service. Debt service would be in the ballpark of around $23,000. So you would net about $31,000 annually from all the assets" 

Could you please tell me how you came up with the $54000 in income?

Thanks @Brandon Turner 

I did post a question and would love you guys to chime in 

@Account Closed 

Here the link to my Question, I did make a few phone calls and replied to my post with more details.

http://www.biggerpockets.com/forums/12/topics/1363...

@Dion DePaoli thank you for your response.

I just got off the phone with my LLC lender. I have built equity in my LLC over the last few years and I can take a "Performance Based Loan" for expanding my business or to fund retirement and real estate investment does qualify for retirement funding.

As I already mentioned in my introduction, I would like to build enough cash flow to cut the hours I work and transition into becoming a full time real estate investor over the next two years.  

If with HELOC and the LLC perfomace based loan, I could build enough cash flow to be able to cut back my hours, hire someone to do the work for me I could still be earning $$ in my LLC and focus my energy on my real estate career.

I've been doing a lot of research and thinking, if I could manage to buy 15 units each at around $30K (I'm still trying to figure out the right market) with rents on avg $600, with the cash flow from the investment, I could pay the HELOC and LLC loan payments, primary residence mortgage and other cost of living.

Once I achieve this, I could expand my real estate portfolio using a portfolio lender and LLC earnings.

These thoughts have been keeping my up at night :) 

Hi Everyone,

I'm a new member on BP and posted an introduction in the new member introduction section yesterday.

I have equity in my primary residence, but have a lot more equity in a non-real estate sole proprietor LLC.

Can I use the equity in my LLC as personal guarantee to fund investment properties with a portfolio lender?

Can I use the equity in my primary residence as personal guarantee with the portfolio lender instead of taking HELOC?

Thanks @Nick J. @Account Closed 

I discovered BP about a year and half ago and have been reading the topics on and off and recently have started listening to the podcast.  Today I decided to create an account and join the network.

I have to say, I'm in love with the podcast and have decided to start taking notes as I listen to it to be able to go back and review my notes later.

I started my real estate investment last year and purchased my first two rental properties in Phoenix AZ.  As I read and listen more about real estate investment on BP, the more I realize that my first two deals were not great investments at all.  I do have positive cash flow, but not as much as some of you guys on BP.

I had to take some time off real estate investment to learn more before I make my third purchase.  What I'm trying to do now is identifying the markets I want to go into as Portland real estate prices are too high for my budget. 

I'd like to find mentors on BP to first learn how to identify a good market with great potentials and then connect with colleagues in the area.

My goal over the next two years is to acquire more properties using my savings, 401K and the equity I have in my primary residence plus some creative borrowing.  I would like to transition to becoming a full time real estate investor and work in my primary field part time and when I have built a good portfolio, retire in my primary field. 

So at this point these are my short term goals

- listen to all podcasts and take notes

- read BP newsletters

- be active on the forum

- identify the right market of markets

- find the right portfolio lender

- start finding deals