All Forum Posts by: Sarah Giffin

Hello! I am a newbie and purchased my first buy-and-hold rental in Columbia. I am looking for a knowledgeable real estate attorney that can help me get everything set up correctly/legally for this and future rentals. Thanks in advance for the advice and recommendations!

I am about to close on my first rental property in South Carolina and want to make sure I have everything set up the best way for legal/tax implications. I created an LLC but am now unsure if that is the best route for my first investment property. Following that are questions surrounding bank accounts, etc. That is why I am looking to work with an expert to help me get set up good from the beginning. I would love any suggestions you have!

Thanks @Arsen Atanasovski I want to put in a cash offer to look better to the seller, so are you suggesting a quick straightforward loan from a local bank/credit union (rather than a mortgage) to get the funds for the sale while we get the other money in place?

Looking for hard money or private money lenders to provide a bridge loan for the purchase of a $45k rental property in SC while we get our funding in place. I will be taking a 401k loan to pay off the lender, but need time to rollover a 401k balance from an old employer in order to get the money. All of the hard money lenders linked on BP require a minimum of $75k.

Hello! I am brand new to REI and am in the Hartford area. I would love to connect and join a network of like-minded investors to share information/ideas with! I am excited because I just had an offer accepted on a triplex in Hartford! Excited/nervous to start my real estate journey!

I've been wondering the same thing! I keep going back and forth between starting an LLC and establishing a business bank account for rents, etc, vs for my first one just managing in my own account. Great question!

Hi All! I've been doing lots of reading/researching/listening and am finally about to pull the trigger on my first property! It will be a buy and hold using the BRRRR strategy. Either I'm running the numbers wrong, or it's a no brainer, so I need some advice. SFR in CT listed for $87,500 (would start offer around 70k). 2 bed/1 bath, 624sqft. Property taxes last year were $3,432, tax assessed value $68,740. It needs some updates (~15k), but a comp within sight distance of this property that has been updated is listed for $139,980, so I'm estimating my ARV at $130,000. Rents in the area for similar units range from $1000-$1200/mo. I'm showing a GREAT cash flow. What am I missing??

@Craig Bellot Thanks for that advice! That is some of the most concise, actionable advice I've seen, so I really appreciate that. I would love to connect and pick your brain more if you're available!

Hi Janice! Nice to meet you! I actually bought all 3 BP rental books, so I'm working my way through now that I finished Rich Dad. Glad to meet someone else who is still in the research phase. Good luck! Hopefully we will both be able to take the leap soon.

I'm new to REI, BP, AND new to Connecticut. I would love to meet and connect with fellow investors in the area.