All Forum Posts by: Shae Langley

Hi! I'm looking to potentially BRRR a property in Jacksonville, FL. Fort Wayne, IN. Or Augusta, GA.

Any contractors or Real Estate Agents out there willing to help? This will be my second property purchased, but first BRRRR purchase.

Thank you in advance,

But where is the "amount of money you make vs expenses" cut off to where if you were to form an LLC, you'd see a lot of tax benefits?

Is there a general rule of thumb on when to create an LLC?

I'm in California and know LLC's are expensive.  But is there a cut off when you reach $xxx amount of income from your investment properties is when you should create one? Or when your expenses equal $xxx?

Thank you.

Hi.  I have a property in Atlanta, GA that has gone up in home equity value about $50k since I bought it a year ago.  I would like to invest into a second property with the equity via a home equity line of credit (not cash out refinance).  With that $50k, ideally I invest into a new property with $30k down payment, and then saving $20k for renovations (or maybe all towards a down payment, flexible with where the money goes).  With that being said, I'm a bit confused on the loan/backend side of all of this....a few questions below :

-Can the ARV be determined before the repairs are done / during the offer/inspection process via a contractor? Or would a loan agent need to quote the ARV? Is this ARV guaranteed? Is it a guesstimate and can only really be determined post renovations?

-Should I take out more than $50k from my original property? What is a good rule of thumb for the amount you can/should with-drawl?   

Thank you!