All Forum Posts by: Thomas J Mele

@Dylan Shea

LLC is set up, now need to open a business account. Should I go big bank (Chase, Wells Fargo, etc)? Or am I better of going with a smaller local bank? What are the pros and cons?

@Kay C.

Have you considered the northeast? My market in the Fairfield, New Haven and Litchfield county areas of Connecticut. The market is booming with all NYC residents moving out of the city and heading up north to CT. Close enough to the city but far enough away to get more bang for their buck and not be living on top of their neighbor anymore. Covid has really impacted my market. I love when I keep hearing “this market stinks, there’s no inventory out there” I just smile and nod and say “yea you’re right”. 😂🤦🏻‍♂️🙄

Meanwhile the investing game is through the roof. You just have to think outside the box and get creative rather than only looking on Realtor and Zillow. Let me know if I can help in anyway. Always looking for new partners on deals! Best of luck!

@Samat Davletshin

Have you considered the northeast? My market in the Fairfield, New Haven and Litchfield county areas of Connecticut. The market is booming with all NYC residents moving out of the city and heading up north to CT. Close enough to the city but far enough away to get more bang for their buck and not be living on top of their neighbor anymore. Covid has really impacted my market. I love when I keep hearing “this market stinks, there’s no inventory out there” I just smile and nod and say “yea you’re right”. 😂🤦🏻‍♂️🙄

Meanwhile the investing game is through the roof. You just have to think outside the box and get creative rather than only looking on Realtor and Zillow. Let me know if I can help in anyway. Always looking for new partners on deals! Best of luck!

@Sarp Ka

Have you considered the northeast? My market in the Fairfield, New Haven and Litchfield county areas of Connecticut. The market is booming with all NYC residents moving out of the city and heading up north to CT. Close enough to the city but far enough away to get more bang for their buck and not be living on top of their neighbor anymore. Covid has really impacted my market. I love when I keep hearing “this market stinks, there’s no inventory out there” I just smile and nod and say “yea you’re right”. 😂🤦🏻‍♂️🙄

Meanwhile the investing game is through the roof. You just have to think outside the box and get creative rather than only looking on Realtor and Zillow. Let me know if I can help in anyway. Always looking for new partners on deals! Best of luck!

Need some advice! 🤷🏻‍♂️

Here are the numbers.

Purchase price in 2019 was 187k

with an interest rate of 4.75%

Current loan amount has 145k left on it.

Identical unit below me just sold for 215k

If I cash out refi today. Loan amount goes up to 180k

Interest drops to 3.65%

And I get a check free and clear for 30k after closing costs.

Keep in mind I need the money to put towards a new property and start my real estate business full time.

WORTH IT? Or find another solution?

Thanks friends!

Do I need guidance in this category or do I just google "create my own LLC"? Just trying to gauge if there are any particular details I should know about or if it's pretty straight forward to figure out on my own.

@Brandon Rush

Great advice Brandon! Would you like to help organize a BP meet up in our area in the upcoming months?

@Kris Laku

Nice! I’ve been trying to organize an investors meet up in our area. I just posted in the forum yesterday

@Kris Laku

I’m in the same boat in your area. Where are you located? I’m in Fairfield county

@Dmitriy Fomichenko

Thank you sir. Very excited to network and meet new people in the business!