All Forum Posts by: Ash Hegde

Congrats @Jude Cineas, wishing you success! 

I do think it's a good idea to look into those to build your team even if you don't immediately need them. Not sure if you have asked your agent already, but if they deal with investment properties they may have those type of contacts. 

 Yep, you can get an EIN for a sole proprietorship (yourself) even without a separate business entity. 

As mentioned, cash on cash return is probably a better metric for a short term rental. In terms of work, there are some automations that can be used with keypad entry to the property, etc, but it will be generally be more work than a long term rental. 

As mentioned, getting a HELOC for an investment property can be tough at the moment. Your best bet is likely a cash out refi (DSCR or conventional, depending on circumstances).

Agree with the others, I think cash is best used if you need a competitive advantage in a tough market or you're buying something that is distressed and won't qualify for a loan (and some other circumstances). For what you describe, it's likely best to go with a loan now and refi out when the rates come down. There's no guarantee that it will happen any time soon. 

 I used them for my pre-license and passed on the first try earlier this year. Very good content. 

The contribution to an LLC is not considered a gift. You can deposit the 100k into the LLC for investing.

Agree with Scott. Your goal seems to be to have your own properties so it would be best to get going on that goal with a house hack as planned. Later on in your investing career a passive position with a syndication could be a compliment. 

 This is really great idea!