All Forum Posts by: Tim Vander Ploeg

Ok I thought there was more of a tax benefit to llc.... Thank you for the information... Anyone know a good cpa in Detroit Michigan area

I am purchasing a home on Houghton lake MI, and have a few questions.

Am I better off putting it in an LLC or just in my name, and do I need a specific loan or anything to maximize tax potential?

Can I write of remodel cost?

Any good tax tips are welcome thanks

Looking for a realtor with 203(k) loan experience in Dearborn mi area of anyone knows a good person

Anyone know a good loan officer in Dearborn area for a 203(k) loan?

Thats what I am figuring out... So I think what I am going to do is refi my house and rent it out (can't have 2 FHA loans) then get a FHA or 203k and move... Possibly stay a year refi rent and move again..

Is it possible to each have our own FHA loan for a total of 2 though?

The house I am in now was bought by my wife 3 years ago before we were married... So the loan is completely in her name, can I take out a 203k loan in my name and rent out our current home? Or would I have to refinance my current home and pay off the first FHA loan? Or is it not possible to get a second FHA or 203k at all?

@Nghi Le

Here is what I don't understand... I get that after you refi you have little to no money invested, but up until that point won't I have to have a good amount of cash to finance the rehab and a down payment on the first loan? Or did I miss something there

@nghi le 

Thanks that is an interesting approach

@Nghi Le

Interesting I have not seen the BRRRR strategy yet, I just started out my research... Do you have a link on how it works? Thanks for the tip