All Forum Posts by: Tim Coulter

Katie, please do share!

This is awesome - thanks @TJ. I used to live a few houses down from Thorn St Brewing. Looking forward to meeting Dennis!

I am looking for a tax accountant and CPA who can provide direction on how to best structure my business for tax purposes as well as find ways to maximize deductions as a commercial real estate agent. Any strong recommendations?

P.S. My wife has a YouTube/Social Media business (youtube ad revenue, selling of ebooks/courses, brand sponsorships, etc) and it would be a bonus (but not required) for this person to be knowledgeable about tax strategies for this type of business as well. Thank you all in advance!

I am looking for a tax accountant and CPA who can provide direction on how to best structure my business for tax purposes as well as find ways to maximize deductions as a commercial real estate agent. Any strong recommendations?

P.S. My wife has a YouTube/Social Media business (youtube ad revenue, selling of ebooks/courses, brand sponsorships, etc) and it would be a bonus (but not required) for this person to be knowledgeable about tax strategies for this type of business as well. Thank you all in advance!

Thanks @Alex Bekeza. He didn't flat out say it wasn't a good fit but implied that he would focus his efforts elsewhere if I'm going to be working with multiple lenders. I know he can execute, but was/am a total noobie when it comes to pricing and whether some are able to get better pricing than others. I was under the impression that we should shop rates with multiple lenders once we have a deal under contract.

My friend is not as experienced with FHA 203k or renovation loans in general, though he has another guy in his office who is. The other lender is with Fairway Independent Mortgage, who has a department of renovation loan specialists who come in and assist when a renovation loan is needed.

I'm thinking for a purchase where I live I would need to do a renovation loan (though in this competitive market it would be difficult to get under contract) or use hard money and then refi out of it post rehab. I'll just be super transparent with my friend and see what comes of the conversation.

Ok folks, here is the story. I have a friend who is a mortgage banker/broker and I went and got pre-qualified with him. I completely trust that he would do a stellar job executing quickly, making listing agents confident in my offer, and doing his best for me.

I also reached out to another lender, recommended by my agent who I met and believes he knows his stuff. He's got a lot of experience and I from my interactions I believe he will also do a fantastic job. I went ahead and submitting info to get pre-qualified with him as well.

My mindset was, I might as well talk to a number of lenders and get pre-qualified with a few of them at around the same time so all the credit pulls count as one. My mindset was also, then as long as I believe all can execute, I will shop the best rate when I have a deal and am looking to price lock. The 2nd lender knows I am engaging other lenders and it doesn't bother him but he is likely confident that he may get the business due to his close relationship with my agent. As I was updated my friend on things, I shared that I got pre-qualified with another mortgage banker/broker and my friend was shocked and not happy because he thought I was committing to work with him. And he was putting a lot of time and energy into underwriting and he rushed on a recent HUD deal I was going to bid on (that never panned out). He felt that if I was engaging other lenders and not committed to working with him, that I may not be a good fit and he was going to invest his time with people who he knows will work with him.

I totally get his point of view, but what is normal and recommended for investors (I am looking to house hack the property I purchase)? Do you find one lender that you trust that can shop different places for the best mortgage offering for you, or do you engage multiple lenders, have them underwrite and pre-approve you, and then shop rates at the end?

Thank you for your input and recommendation as I navigate these new waters.

Austin, welcome! We have a lot in common: I live in San Diego with my wife. Graduated college in 2014, am age 26, got married right after college, new member to BP, reading David Greene's book now on Long Distance Investing, originally planned on purchasing buy-and-hold properties for cash-flow OOS. I now plan to purchase a property here in San Diego that I can rehab and house hack (through buying a multi-family or building an ADU or another method). After that purchase, I thought to buy OOS but I have seen many of @Dan H.'s posts over the past few months and my strategy has shifted slightly. I may choose to stay investing in the San Diego area (finding private money or other creative financing solution) or move forward with OOS investing in commercial multi-family (likely also using private money) where I can force appreciation.

I am out of state traveling on business right now but would love to connect in-person over the coming weeks. I'll shoot you a PM.

@Katie L., would love to be connected with REI-friendly attorneys in the San Diego area!

@David Roque, I am interested. You can see from my other recent posts that I am a newer member looking to learn as fast as I can. I am definitely willing to put in work and sweat in exchange for learning. If you are open to it, I would love to meet up to learn more about you and share my goals/interests and see if we are a good fit. I'll private message you.

Welcome Miles! I am also a newer member in San Diego looking to do some similar things. From my short time on the forums, I have proactively messaged and set up meetings with lots of people in the area. I recommend you do the same to build your network. It's amazing how many people you can connect with in such a short period of time here!

Best of luck to you - happy to connect with you and bounce ideas of each other.