All Forum Posts by: Alex G

Thanks for the response. I'm aware I can get it on my own, trying to save some time and be up to date for my next investments. That's a rather annoying policy =).

Loan Officer in Alabama is telling me she can't send me a copy of my credit report via email, fax or mail. Is that true? I've gotten my report from lenders in the mail in the past, this new or she just doesn't want me shopping it around? I used to be a loan officer in NY, I don't recall having this problem.

I would NOT sell your house. It doesn't affect your leverage much (just taxes and insurance). If you invest creative you rarely have to put much if any money out of pocket. I completed 1 flip and in the middle of another in Philly both just paying closing and carrying costs. If you do rehabs you roll any construction costs etc into the loan based on ARV (after renovated value). For example say you get a short sale for an as is property for 30k and it's worth $100k ARV rehabbed. Let's say you get a 70% ARV loan which will give you 40k to renovate the house non out of pocket. If it takes 2 months to complete the project and 1-2 months to sell that's 4 months carrying costs. If I were in your situation, if you have no assets I would get a HELOC to draw from. And if you work like I do, get involved with local real estate investment groups and get ideas what people are doing locally and nationally.

Any feed back would be great. How do you guys structure your LLCs? Does anyone have any focus on Asset Protection?

I'm looking for the best way to incorporate to provide the best asset protection for my investments. I sat through an Asset Protection presentation a few years back that mentions FLP (Family Limited Partnerships) are one of the strongest ways to structure your corporation.

Any one have any feedback or experience with this? I'm also looking for experienced REI focused attorney's to work with.

Jonathan, I know this is an old thread but I tagged you as a network contact. I also live in Long Island, NY looking to invest in the Albany area. Maybe we can network and work together. I've been investing in Philly and looking to expand into some lower cost homes for cashflow.

I'm a Systems Admin living on Long Island doing part time investing in Philly at the moment. With the help of family successfully closed my first flip in 08 with a good return and hopefully listing my second this month! I'm looking for lower risk cashflow properties upstate NY by colleges near the Albany area (Troy / Schenectady). I'm a licensed realtor looking for a broker as well up there.

Any one in the area with news / feedback about the market? Anyone doing cashflow properties near colleges?