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    REAL ESTATE Where to find Investors?

    Great info. Thanks!
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    REAL ESTATE Where to find Investors?

    Hi everyone. Once again, I come to this wise group for guidance. For those who don't know me, I've recently begun the RE investing game a little over a year ago and now have a few condos and duplexes under my belt. I am now looking to make the (relatively) big switch to commercial development...
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    REAL ESTATE Is it possible to go TOO fast? Want to buy 36 unit apt

    Loans are typically amortized over a 25 or 30-year period. Accordingly, the additional 15% money you put down would mean a reduced loan amount, but that amount is amortized over that long period so it's not a simple 1-for-1 ratio of money down to CF.
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    Why Not to Put Your Property in an LLC

    I have a few properties titled in LLC's. Great. I guess if I need to refi, I could always just quit claim the property to me and hope they don't call the loan for 6 months. This is really stupid. Maybe Fannie Mae will be smart and not follow. Maybe I'm going to be stuck using credit unions...
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    Awesome. Looking forward to making this part of my regular reading.
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    I must make MORE!

    Agree. Money is relative. Its value is instrinsically tied to how much you have versus someone else. If you have more than everyone else, it doesn't matter if it's $1 or $1,000,000, you are still the richest and would live accordingly.
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    HOT TOPIC Visa IPO- Will we all be driving Lambos end of March?

    Visa had its first earnings report today. Profit rose by 28%, but earnings were $0.03 below expectations ($0.52 vs. $0.55). Thoughts anyone?
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    REAL ESTATE Hotel-Condo

    I have a second home/investment property that is a Hotel-Condo. I received financing for it last year which I am somewhat unhappy about. I want to refinance, but not with them. Unfortunately, I can't seem to find a lender that: (a) will lend on a hotel-condo and (b) do so with decent terms...
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    REAL ESTATE Im having a bit of hesitation and doubt

    %0 down financing? Please elaborate.
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    REAL ESTATE Owner occupied and LLC questions

    Please, please do not get owner-occupied financing if that is not your intent. The potential problems are not worth it. Your best bet is to operate on the straight and narrow.
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    REAL ESTATE Closed on my first investment property!!!!

    Congrats! Please keep us updated on the progress (how the tenants are, the cash flow, unexpected expenses, etc.). I'm curious to see how it goes.
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    Foreign LLC's Owned By CA Resident

    Thanks for the reply. Unfortunately, regardless of where my bank account is, I think because my "office" is located here in California, I have no choice.
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    Foreign LLC's Owned By CA Resident

    I have an interesting tax issue. I live in California and have an Indiana LLC which acquired a condo in Indiana last year. In California, domestic LLC's have to pay $800/year as a "minimum tax." Apparently, because I live in California, my Indiana LLC which owns an Indiana condo might be...
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    REAL ESTATE quit claim

    Yes, you are correct. I probably didn't properly explain what I was trying to say. I also have residential properties under my LLC's. What I meant to say is that a business cannot buy residential properties with a residential mortgage. The mortgage will need to be in the individual's...
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    REAL ESTATE quit claim

    I second what everyone else has said and add that I do not think an LLC can take a mortgage out on residential property. I think business entities (LLC, Corp, etc.) can only take mortgages out on commercial property. This may or may not be the law, but I believe it's, at a minimum, common...
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    REAL ESTATE Hakrjak starts a new flip....

    Wheh! Thanks for the clarification. I was one of the confused. I went to sleep last night wondering how you were financing a flipping project that you weren't planning on making any money on. :rofl:
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    A Question for Diane K.

    Good advice, I would just point out one thing. If you go the PMI route, you only need an appraisal (once the LTV reaches 80/20) to remove the PMI. But if you go the 2 loan route, you will need to refinance to remove the 2nd loan. That is much more costly than an appraisal.
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    Investment Property in LLC's, but what about Property Searching?

    Re: Investment Property in LLC's, but what about Property Searchi What about a mortgage broker?
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    Investment Property in LLC's, but what about Property Searching?

    Re: Investment Property in LLC's, but what about Property Searchi Would your typical Mortgage Broker be considered a Real Estate Professional?
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    Tax Advisor / Business Advisor..

    Ideally, you are going to need to have two different people to handle the taxes and the "legalities." For taxes, you simply need to find a recommended CPA in your area that has experience with start-up companies. The same goes for the attorney. Typically, smaller firms or solo-practioners...
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