All Forum Posts by: Tony Ho

I have a client who would like to buy a commercial space for her event planning gigs. 

It should be big enough to accommodate 400-500 guests.

Include a kitchen.

Spacious parking space

Zip code:

07203, 07111, 07050, 07051

Welcome to BP! You will find a lot of ways to help build your knowledge base here, enjoy!

do great tenants only come from sfh? Can they also be found in apartment units?

I will send you a pm for a guy that helped me recently

You could contact a company that works with a bunch of insurance companies, they don't have a price just from one company so they can help you look at different sources and find you the cheapest and best policy that could fit your needs. I just switched my insurance and saved over $300. I did my search with Answers Financial and if you want to try, I can refer you to the agent that helped me.

it earns from 1-2%, when the interest rate for BORROWING your OWN money is 6-8%. The premium is basically split up,  one part goes to paying for your premium and the other is for your cash value. The cash value goes up as you pay your premium.  So if you take out the insurance part, you are putting money into a savings account that charge you interest for using your own money. 

It takes years for the money to grow to a sizable amount for you to use in real estate. 

You didn't get back to the part where if the insurer die and he or she took money out from her cash value before he or she die,  that the beneficiary receive less any loan the insurer has out. 

So essentially,  the money belonged to the company, because if it was yours,  you should receive your whole premium +cash value 

They meant you could do something like a BRRR. (Buy, rehab, refi, repeat the process if you want more rentals)

"BP is full of life insurance trolls" but you just put down term insurance and praised whole life. 

Also, that savings in whole life isn't yours. Every time you take money out from it, they charge you an interest rate, and when you pass away before the money is paid back. The company minus your current balance + interest rate, so that (i.e $100,000) policy that you have is reduced. 

Term is cheaper and you can have a higher coverage. With the money you save from buying term, you can invest that back into real estate. 

congratulations! Did you house hack a room from your first sfh? I'm planning to do the same. 

congratulations! May I ask how did you come up with 17k as 22 years old? What is the interest rate for commercial loan and how much did they give you?