All Forum Posts by: Vishal Amin

I recently just completed the LLC process and got an EIN number. My next step is to create a bank account for the LLC. What type of bank account should I be creating for the LLC, of which my partner and I will have access to it.

 Yes they did provide me with an inspection report.

Hello,

I found a great property, but the seller wants to skip the inspection process as they recently had one done. But as a buyer I do not feel comfortable, I would like to be safe and hav my own analysis from a professional I hire. 

What do you suggest I do?

Hello,

I have always been confused by this statement "No money down" or "without using any of my own money". Does this mean an investor found a deal a hard money lender/private lender is willing to let them borrow 100% of the purchase value for. So the investor would pay nothing out of their pocket. The lender is getting a quick return on their money until the investor does a cash out refi (6-12months) and  pays back the lender. 

I would love some clarification.

Hello,

I am looking to buy a value add property. What is the best loan practice for renovating? 

1st loan : DSCR loan to purchase the property.

2nd loan: Renovation loan, should I get a loan from a credit card? or go a different route?

After rehab is done, once it starts renting. How long do I wait to cash out refinance?

Thank you

I have been doing research on different markets and have analyzed a lot of deals. My only problem is how do you know you are doing the right thing when picking a potential property. I know following the numbers and letting them make sense is an important factor.

My main metric is CoC return, just simple, how much is left after all the expenses. I am in a partnership with 3 other investors.

We have so many questions, do we go high down payment or stick with 20%? Do we form the LLC first or form it after buying the first property. What should be the structure of the LLC? How will we qualify for a potential property? We have weekly calls but always come back to these questions.

Anything helps.

I have been doing research on different markets and have analyzed a lot of deals. My only problem is how do you know you are doing the right thing when picking a potential property. I know following the numbers and letting them make sense is an important factor.

My main metric is CoC return, just simple, how much is left after all the expenses. I am in a partnership with 3 other investors.

We have so many questions, do we go high down payment or stick with 20%? Do we form the LLC first or form it after buying the first property. What should be the structure of the LLC? How will we qualify for a potential property? We have weekly calls but always come back to these questions.

Anything helps.