All Forum Posts by: Aaron W.

@Kevonna Ahmad This is a question that is highly debated amongst investors. If you find a deal but no financing, then how do you purchase it; however, many lenders (hard/private/conventional) will not agree to lend to you unless you have a deal. 

I would work on both angles. Try to secure soft commits while you are looking for deals. Show a sample deal of what you invest in or have invested in and include information on why they should invest in you. 

In this current market cycle, you have to be aggressive and be ready to move quickly when you find a good deal.

Best of luck!

@Jordan Saiz There are a few sites out there to help manage your property. One free site is Stessa which we have used. It is pretty good for what you pay for... nothing... and it allows you to track your properties and run reports. They have add on services there too for added convenience.

Best of luck!

@Andrew D Hansen Depreciation is based upon your physical assets of the property, such as the home, appliances, etc. What you charge for rent has nothing to do with it. The great thing about depreciation is it can help lower your taxable rental income so you'll owe less (sometimes no) taxes on the income from rentals.

Best of luck!

@John Lenhart Thank you very much for all the help!

@Luke Boff This is possible; however, the delayed financing route has certain drawbacks. One primary one is that you can only cash out of what you paid based upon the closing statement (HUD-1) or about 75% of the appraised value whichever is LOWER.

Here's a detailed BP article about it: https://www.biggerpockets.com/...

Best of luck!

@John Lenhart

We've owned this property for about 1 year.

@Darrin Carey

Thanks for your insight! What do you recommended we bring as evidence? They are arguing that the value should be based upon the selling price.

@John Lenhart

Thank you for the great insight! What do you recommend we have prepared as evidence for the hearing?

@Anya Kotova From my understanding, the child LLC will pass to the parent LLC, and then pass to you. LLC are pass through entities, so ultimately the income will pass to the owner of the LLC. A SSN is required to obtain an EIN, but that doesn't necessarily mean the child LLC income would pass directly to you. It is more about the structure of the LLC (i.e. who owns the LLC).

I would speak with a CPA about your question.

Best of luck!

@Tucker Kincaid Have you thought about partnerships, private money, or hard money options?  What about seller financing?  

There are many other creative ways to get a deal done. You just have to find a willing buyer.

Best of luck!