All Forum Posts by: Tyler Peitzmeier

Hello Trevor,

I would recommend getting a tax advisor/CPA. they will help ensure everything is organized and planned out correctly ensuring you get the most tax benefits possible.

Hope that helps!

Tyler

Hello Kameron,

You could also look at doing a cash out refinance of your property and use that money to use a downpayment. That way you can buy more properties and keep your current house.

Hope that helps!

Tyler

Hey Kathy,

To get the property in an LLC, look at DSCR loans. They are based off the properties and not you personally. Lenders prefer that those properties be in and LLC for ease of business.

For the partnership, I would work with your attorney to set up a partnership agreement. They are very thorough and ask you and your partners questions you would never think to ask.

Hope that helps!

Tyler

Hey Jared,

My top advice would be to look into getting a VA loan and utilizing it however you can. You can only have one VA loan at a time, but you can refinance the loan after 12 months into a conventional and then go get another VA loan again. That gives you a lot of flexibility where you can invest to get cashflow.

In terms of good markets, I believe there are great deals in any market. You just have to look a lot and run the numbers. the Biggerpockets calculators are a big help.

Hope this helps!

Tyler

Hey Emily,

My wife and I just looked at a bunch of properties in Big Bear a few weeks ago, and funny enough, all the properties that were for sale were AirBNB's. For us, the numbers did not make sense with all the city taxes and property management fees we would be required to pay. 

I am not saying it wouldn't work, but for us there is much better markets to choose from that would bring much more profit.

I hope this helps!

Tyler

Hey Steve,

Brandon Turners Book, "Investing in Real Estate with No and Low Money Down" 

This is a helpful book to help make think outside the box how how to acquire properties. It has really helped me.

Hope this helps!

Tyler

Hey Oscar,

I would send that to my real estate attorney to review. That sounds a little fishy and would give me some red flags, just make sure you are protected and take action the right way.

I hope that helps.

Tyler

Hey Ethan,

In my opinion, if you are getting some cashflow on the property right now, I would hold it. The reason why I would hold is because then after you sell it, you are stuck with the problem of not having a rental property like you said. Now if you are not cash flowing from it, I would offload it and start fresh. 

For the 1031, you can identify the property before you sell the first one. That should help you take advantage of the exchange more easily.

Hey Dominic,

Take a look at DSCR loans. This should help you get approved for your 4th loan and the best part is it will not use you and your wife's income for underwriting. It goes off the property and rent. A lot of lenders now offer them but a quick google search will help you find some for you.

Hope this helps!

Tyler

Hello Michael,

Thank you for sharing your story. The first option I think of is for you and your wife to get an FHA loan where you will only need to put 3.5% down. Find a property that needs some repairs that you can clean up while you are living there. Then you can house hack and rent out the other rooms or build an ADU in the garage to rent out. After the first year, you can move out and buy another property and rent out the first one no problem.

If I could go back, that's what I would do. Hope this helps!

Tyler