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All Forum Posts by: Alice Huang

Alice Huang has started 30 posts and replied 199 times.

Post: Cash out Refi and reinvestment help!

Alice HuangPosted
  • Investor
  • Montreal, Canada
  • Posts 219
  • Votes 82

@Jimmy Lieu

How the BRRRR works is that the borrower will eventually refinance to pay back the HELOC (or Hard Money Lender) after rehab and seasoning. So the HELOC borrowing is only temporary IF he BRRRRs.

If it's just a normal purchase, this method of HELOC would not be preferred.

If you're unfamiliar with BRRRR, I highly recommend listening to the BP podcast on it and David Greene has a book on it too.

Post: What are my options?

Alice HuangPosted
  • Investor
  • Montreal, Canada
  • Posts 219
  • Votes 82

@Aaron Signore

Hey Aaron,

Not sure where you're located so can't tailor the advice more. Would you consider BRRRR with HML and then refi after seasoning. This way, it'll buy you some time to work toward those two years as well.

Post: Cash out Refi and reinvestment help!

Alice HuangPosted
  • Investor
  • Montreal, Canada
  • Posts 219
  • Votes 82

@Jimmy Lieu

Hey Jimmy,

With HELOC you pay for what you need, when you need and refi you take out the whole amount at once.

Hope that makes sense.

Post: Cash out Refi and reinvestment help!

Alice HuangPosted
  • Investor
  • Montreal, Canada
  • Posts 219
  • Votes 82

@Tim O'Keefe

Hi Tim!

Are you familiar with the BRRRR method?

I'd take out a HELOC, BRRRR another home and refinance the new home to pay off the HELOC after rehab and seasoning.

Post: Real Estate Brokers in Austin, TX

Alice HuangPosted
  • Investor
  • Montreal, Canada
  • Posts 219
  • Votes 82

@Phoenix Prefontaine

Hey Phoenix,

Not a realtor or broker but an investor who use to live in Austin and invests in San Antonio. Always looking to help others and give back.

What do you mean by “partner with”? Let me know more and will see who I should put you in touch with.

Best,

A

Post: 21 YO, wanting to start investing in rental properties

Alice HuangPosted
  • Investor
  • Montreal, Canada
  • Posts 219
  • Votes 82

@Austin Wise

Hey Austin,

Thank you for your service.

Have you listened to the weekly BP podcasts and read any of the BP publications yet?

Post: Canadian with Canadian questions

Alice HuangPosted
  • Investor
  • Montreal, Canada
  • Posts 219
  • Votes 82

@Roy N.

Hello!m Roy!

Fellow Canadian here. I agree with you that having a real estate savvy accountant is very important. I’ve just returned back to Canada after being away for 11 years. Would you have an US real estate investment savvy accountant you could recommend?

If anyone needs recommendation on an US (specifically in Texas) or Australian accountant, let me know.

Thank you.

Best,

Alice

Post: Canadian

Alice HuangPosted
  • Investor
  • Montreal, Canada
  • Posts 219
  • Votes 82

@Francois D.

Hello Francois,

Do you also do conventional loans? Or just private lending?

Post: Attorneys disagreeing over LLC Operating & Partnership Agreement

Alice HuangPosted
  • Investor
  • Montreal, Canada
  • Posts 219
  • Votes 82

@Cherif Medawar

Appreciate the insight! My business partner and I are both very direct, no bs type so it’s been great to work together up to now. We’re both very open and considerate of each other’s position.

Just was not expecting the LLC attorney, who also is a real estate broker, and my attorney, who specialises in real estate and commercial law, to have such different advices.

Post: Attorneys disagreeing over LLC Operating & Partnership Agreement

Alice HuangPosted
  • Investor
  • Montreal, Canada
  • Posts 219
  • Votes 82
Originally posted by @Chase Cannon:

@Alice Huang If you are referring to the use of common law in the U.S., yes. The U.S. is heavily reliant on a common law system, using prior cases to determine future precedent. If you are referring to commonwealth vs. statehood, there are 4 commonwealths in the U.S., but none of the 4 are Texas. In your situation, I would spend the majority of my time understanding the intricacies of Texas business law as it seems slightly unique. 

In regards to the conflict of interest issue, it seems your attorney is being cautious about whether they can serve your best interest and your LLCs best interest at the same time. In PA and GA, it is allowed to have both parties sign a conflict-of-interest waiver if one person insists that their attorney represent both the LLC and themselves. However, if it were me, I would find another attorney who specializes in business law to advise you on the LLC and keep your regular attorney for the usually matters. Again, it probably will be more money, but getting this wrong could end up being more expensive.

Thank you again Chase for the great insight!  Will study up on Texas law.  Much appreciated it and hope other BP members can benefit as well.

My attorney is a real estate attorney, recommended by my trusted real estate CPA. I've been in contact with her when I was still in Texas. The LLC attorney I am more worried about as I am not sure how my business partner found her and whether or not she specialises in real estate.

A lot for us to consider.  Thank you.  Will go through everything again with my business partner.