All Forum Posts by: Brian H.

@Ray Johnson

Same issue here. The main post confused me a little. I think she was saying they fixed it on iOS but not Android? 

Do any of you have experience or have you had success finding hard money lending for flips in locations that aren't near metropolitan areas?  

Have a great opportunity. Private investor willing to go in with $50k, need hard or private money for the rest. Foreclosure. Grab property for 75k - 85k, rehab ~60k, ARV ~$200k... but it is in a more rural area. Not super rural, mind you... just not close to any metropolitan areas. I have been told by three hard money lenders already that they like the numbers but the location is too rural for their comfort level.

Any suggestions?  Sucks to see a deal right in front of you like this and not be able to get lending! lol  I am going to keep contacting hard money lenders, but wasn't sure of any other ideas. Cash deal because of the foreclosure, otherwise I would just go to a bank!

@Nathan Gesner

I do have a comfortable reserve. I just have a personal desire to grow it a little more.  I am not doing this deal to save on taxes, that was just something that popped into my mind when I was responding to you as another possible positive side to the deal.  

Thanks for responding! Really helpful to hear from more seasoned investors. Very much appreciated, sir.

@Craig Jeppesen @Casandra M. @Robert Biggerstaff @Chris Szepessy

I really appreciate the responses.  It has given me more comfort to move forward. I felt good about it, but it helps hearing from people that are more seasoned than myself.

@Mindy Jensen  I was confused by the original post... I am only seeing version 4.0.1 from August 2018 on the Google Play store. Are you saying only iOS has 4.1.0?  Just want to make sure I am not missing anything.

@Nathan G., It is the monthly setting aside of reserves that will be leading to negative cash flow right now. I am ok with that for a year or so and then I should.be good on reserves to pull back a little if need be. Also, isn't the negative cash flow great for my taxes? Or maybe it won't look negative for my taxes since about $400/month of it is just being moved to my reserves savings account?

I have an opportunity to grab another set of five rental properties.  They are off-market. Seller financing is an option, but they want a 7 year term.  They are offering that with a rate that is 1 point under the banks around our area. I really don't want to finance through a bank with these, if possible.  I also love the idea of paying them off in 7 years.

I really would love to seller finance this. If I do this 7 year term, I will, at current rental rates (which are actually a bit low, but I'm always basing my analysis on current rental rates with the current tenants) negative cash flow around $50/month for the total 5 property package (1 duplex, 4 small SFH).

I have another 5 rental properties (11 units), that cash flow FANTASTICALLY.  They kill the 1% rule and are over 2.5%. So they are doing great.  Can I justify this other deal with that small negative cash flow?  If I did a 30 year note on these same properties, I would cash flow about $1,100/month. The rent is, total between all properties, $2,150, and they are asking $150,000.  That's almost 1.5% of the asking price.

I feel like doing this actually can make sense, as when I pay these off in 7 years (or less), I will have about $1,700 cash flow from these... assuming rents stay exactly where they are (which is very unlikely).  Any help and advice is very much appreciated!  Hopefully this is all clear.

Thank you in advance!

@Will GastonThanks so much, man!

Originally posted by @Phillip Lanier:

Hmm, I still have not received a check.  Anyone in TX experiencing the same thing?  

Guess I'll swing by the office Monday and see if it's open.  Not sure if they are affected by this shutdown. 

@James Wise , thanks for that info.  That makes sense.  I had just received an email maybe 1 week ago saying they are going month by month at this point.  So, hopefully that piggy bank doesn't empty before the shutdown ends.

I did get my funds for this month on 1/3.  They are ACH.

@Dan V.

Thanks so much! This is exactly what I was looking for and hopefully helped others in this thread.

@Linda Weygant

Schedule E applies whether I am Sole Proprietor, LLC, filing as S-Corp, etc.?