All Forum Posts by: William Mccurdy

Yes if you ever want a clear title to sell the house. It's kind of messed up because it's the previous owners debt but the house is still the collateral for the debt so the two will be connected until payed.

Waiting the month on closing to finish. 😭😭😭 I'm so motivated to start 😂😂😂

If you do it the way Stephen is suggesting and your LLC gets sued, you will loose your personal assets. You have to make a divide between the LLC and yourself. You can Loan your LLC money but make sure it is on your books that it is a loan and don't just put the cash in your account. The other option is almost like buying stock in your own business.

So I'm taking the steps. I put in my first offer today. I'm really excited and I hope it works out for the best. They always say the main reason people don't become successful in real estate is because they fail to take the first steps. Well here I am and hopefully It works :)

So I have been doing a lot of calculations and it seems to me that purchase price is proportionate to rent. In my area rent is controlled almost entirely by military BAH. It's a plus and a negative but it seems that rent in generally 650-900, property tax is generally around 1,200 per year, and insurance is roughly 80 a month. It seems that I can't refinance a home for more than 85,000 without it being negative cash flow or too low of an ROI. Without calculating depreciation and tax benefits at the end of the year, it seems there will always be a substantial amount of equity left in the home. Is this generally the same in every market? Rent in a way determines purchase price?

Not to get into the whole "aggressive breed" debate but if the renters insurance covers the breed (State Farm does not discriminate) then why have restrictions? You said small animal. Majority of the animals on the list are big animals anyway.

Thank you all for the information. I will be purchasing The Millionaire Realestate Investor. I have fund that in my market the 2/3 or 3/2 SFR is the preferred market I actually met today with a local investor who helped me get inside on the local market and calm some of my beginner nerves. I will check out the online training courses and report what I find. Thank you all again for the information.

I am trying to work my way into my first deal. Fayetteville real estate is in my opinion challenging. You bring to the table knowledge. Look into asset based lenders that will lend based on the ARV of the home. It Will be a high rate but you can refinance after the house is done. If anyone would like to meet and talk local real estate I would be extremely interested. My current path is flipping via 203k and homestyle.

So a quick backstory. I went to a 3 day "guru" up-sell with fortune builders about 2 months ago. Cost me 200$ but it got me interested in real estate and I am already working on my first deal. Yesterday I went to the rich dad "counseling" up-sell and decided 300$ on the same info I got from fortune builders just isn't worth the money. It would be better spent learning a specific investing skill instead of a broad investing idea. So anyway I am motivated to continue education and want to spend the 300$ to learn something. So how would you do it? What books, classes, or training would you rather do than another 3 day seminar? I have already read rich dad poor dad, both the book on flipping houses and the book on estimating rehab costs. So what's my next step?

Porsche Thompson I know it's a year before you can move out of the home but I'm not sure about a refinance