All Forum Posts by: Angelica M Garzon

Hi Blake, 

At the beginning my husband (the one with the w-2) stopped contributing all together to his 401k so we could invest more aggressively. This was a mistake. We took little investing action that year which means we lost a 6% match on that money. 

Now that we're a little bit more educated on personal finances, we max out his 401k and receive a 6% match which is putting us around 10-16k per year towards retirement. 

The way I think about it now is "you don't simply turn down free money". 

We obviously have a really good match, if the match was lower we would probably only contribute enough to get the match and then contribute separately to a Roth IRA.

Hope this helps & Good Luck! 

Hey Michael, 

Personally, I invested prior to saving my emergency fund. I bough a duplex that cash flowed $600 the first year and then I did a cash out refi and got back around 5k. 

I don't recommend this approach because it really hindered my other investment opportunities for that entire year since I did not have any other money saved up, I had to put at least 7k into the property in rehab and I had a tenant leave after the year. 

An emergency fund will serve as your cushion, and your investment funds should be enough to cover all of these "unexpected" investments. 

This is just my opinion from my own experience. Everyone is different and like you said depends on your risk tolerance. 

I hope this helps and good luck! 

Hi Ladies, 

Just want to double check it starts at 8:00 am ? 

I have a Summit that same day from 10-5 but i would love to attend this meet up for atleast 2 hours if it starts at 8am. 

@Rita Medeiros That's great! I will be there for sure! 

 Thank you Brian that was very helpful. I do have partner that has a brokers license. What would be my next step? I don't want to do any other types of real estate transactions other than PM. I read that I need a EO insurance. Do i still need an escrow account even though I will not be doing B/S transactions? 

Hi Everyone, 

I have been thinking of starting a small property management company in FL and wanted to know of anyone who has successfully done so and give me a checklist of things i need to acquire or do prior to starting. 

Any feedback is appreciated. 

Angie

View report

*This link comes directly from our calculators, based on information input by the member who posted.

I don't know if it's the BP calculator or I am missing something but how come it shows a negative cashflow for the first 10 years. This makes no sense

Hi Jaron, 

I was not giving advice rather, stating very general pros of having and LLC, one being that the MAJORITY of hard money or private money lenders do require and LLC. I know this from experience as i do have a couple properties "under my belt".

I am glad you have always been able to purchase under your name but that's not the rule for everyone else and there are other options. 

Best of luck with your future acquisitions. 

Hi Garen, 

I use my LLC to offset my taxes on my other business and my husband's w-2 (he goes exempt 1/2 of the year). It also helps me keep my properties under an entity name and not my own in case anything goes wrong and i get sued i don't want any of my personal property to be jeopardize. In addition, if you use any type of private money or leverage to purchase your flips they'll require you purchase under an LLC.

I am not sure in your state but in FL I filed for myself online and it only cost $125.00. 

Hope this helps and good luck!

Hi Roopali, 

Investing in a town that you are familiar with is always the best way to start because you'll have background info on good neighborhoods and bad neighborhoods. 

Some markets that yield really high returns and may appreciate in the future include: Central Florida, Tampa, Jacksonville, SC, NC, and Texas. 

Since you're considering a rental, i suggest you stick to multifamily (2+ units). The reason for this is because you mitigate your risks and increase your changes of a higher cash-flow. Multifamily properties may appreciate a little slower however, if you're in it for cash flow it's always better to have multiple streams of income. 

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Hope this helps and good luck!