All Forum Posts by: Amir Khan

Like some wise advise here, this is not cash this is equity.

If you do $130K cash out refi (on $200K equity), are you also estimating how that will affect your rental property cash flow? In my experience, the cash flow may be substantially reduced (or even become negative taking into account interest rate of original loan and refi closing costs). If that happens, then you will need to set aside certain funds as "band aid" to stop negative cash flow bleeding.

Are you facing any one or all of the following due to lack of access to private money lenders:

• Inconsistent Access to Capital
• Time-Consuming Fundraising Process
• Lost Deals Due to Funding Delays
• Increased Stress and Anxiety Over Funding Uncertainty
• Damage to Credibility and Reputation
• High Costs and Unfavorable Terms from Private Lenders
• Difficulty Scaling Their Portfolio
• Limited Negotiation Power
• Lack of Clarity on Structuring Deals to Attract Private Capital

If you’re going through something similar, please reach out to me - you’re not alone and I’d love to help! To assist you, please let me interview you. In this 40-minute Zoom interview, I would like to learn the challenges you are facing trying to find private money lenders for your real estate deals.

This is a purely research-based project. I am not a private money lender/broker and I not selling anything (or have anything to sell). In return for your time, towards the end of the interview, you can ask me anything about raising private capital as I’ve had great success in the area.

If you are interested, please DM me and I’ll send over my Calendly link for your to schedule the Zoom interview. Thanks!

@Vhernadette Sasing as Basit suggest, after taxes you are about $325K/year in income currently. One option is investing in real estate as a private money lender. This is a passive way of earning with real estate-based security, protection and insurance. 

You can gear up real estate portfolio to earn about $325k/yr or more earning double digit returns. To reach this specific goal, you will need about 41 loans each at $30K earning you monthly passive income. You can start with few loans and build up over few years to reach this goal. DM me if you need more information.

@Pat McGinnis your best bet would be exploring SBA small business loan...

Making an emotional purchase decision on an investment property and ignoring the numbers. 

Overcome this by using the most conservation numbers for your underwriting. If that process identifies a smashing deal, then make your investment decision based on it. Numbers don't lie! 

@Teahjsia Frazier excellent advise from others here. I agree house hacking would be best for you. 

Also, if you choose the rental portfolio route, be realistic. For most people to earn enough cashflow to have a comfortable lifestyle from rental properties may take many many years. Numbers don't lie, do some math by figuring out where you can buy properties with targeted amount of cashflow per month. Then figure out how much cash would you need to buy them. Then you'll come to number of properties needed to earn that kind of cash flow.

@Rochelle Gerber absolutely! I do this all the time for my investors. First you will have to ensure your 401K is eligible for roll over to a SDIRA. As you said you are currently still employed there, so you can't do it right away until you leave employment there.

Second, once you've rolled over, you can setup your SDIRA as a regular account (where fund release has to go via your custodian) or setup a LLC checkbook option, where you can write out a check for your choice of investments.

Yes you will have full control over the use of funds in your rolled over SDIRA. I work with several custodian companies and depending on your account needs, can do a warm introduction to my contact. DM me for assistance.

@Chris Brown there is a lot of fraud on FB marketplace. However, many wholesalers are now buying and listing the properties where they don't physically live.

The most important thing you have to know is whether they own the property. You could ask them before you can provide your ID if they can verify who holds the deed. You can then check with the local county if the deed is in fact in that name (caution: if the property was bought recently, the county may not have caught up on the paperwork).

Just be careful and NEVER give any form of cash to the seller, always send EM/downpayment to a title company that you have verified.

@Alyssa Dinson yes it can be daunting investing out of state. If you have some connection/professionals that you trust who can give you unbiased information on the area you are interested in investing, then remote investing becomes easy.

I live in Texas, and invest in the Midwest (IL, OH) because we have boots on the ground that provide us necessary infrastructure needed to underwrite, buy and manage properties.

@Danielle Perry you say you "close" on house the first time, I assume you mean you bought the house on April 30? If so, you should not be paying taxes, rather you should be getting credit for prorated taxes from the seller on your closing statement.

Then, when you say you are closing the property on June 30, I assume you mean you sold it on June 30.  If so, then yes you will be responsible for taxes from Jan - Jun 30 (because you were credited for Jan - Apr in your first closing)...