All Forum Posts by: Bradley J Allen

Hey all, We had a major medical setback and so we had to put the breaks on our building our investment group here in the Friendswood area.  After 7 months since the original post, I wanted to see if anyone had already put something together or if there was still interest in a Friendswood meetup?  

How much should a thorough inspection cost of a 7 year old 3800sqft custom home including a pool inspection? Friendswood, TX 77546

Research says $475 at the highest, reputable quoted packages I got start at 700 goes up to 1100.

I understand you get what you pay for but it seems like there is stark contrast between pricing.

Thanks - Brad

Howdy!,

Are there specific skills, attributes and/or red flags I should look for when interviewing a new lender? How should we compare one lender vs. another when it comes to real estate investing? I'm looking to establish a relationship outside of BBVA, and our local bank has great reviews from some of my entrepreneur friends that have been helped by their flexibility.  There are a ton of options for lenders online as well I know, but my old school thinking is if they know you & see your experience you'll get better deals, etc. 

Thoughts/comments/experiences??

Thanks - Brad

@Steve Vaughan Thanks for the reply! I'm still in the original FHA loan on my personal home & the refi would lower the 4.75% rate to where the NOI would make sense for me to rent it out vs. selling now. I really like the HELOC idea, but worry that it won't lower my rate low enough for the feasibility to make sense as stated above. I'm meeting with a lender today to go over options to see if the math works.

As far as an LLC, I have been on the LLC train since I have always had side businesses and most have been warned by many attorneys to separate the business from personal liability. That's why I was thinking to move to an LLC; simply to eliminate a tenant lawsuit (slip & fall etc.) from affecting me personally.

You have been extremely helpful and I appreciate your time! - Brad

@Joe Splitrock so you are saying that I would get taxed on the cash-out amount which would cost me a big chunk of money to put down on the new house? In what scenerio are you not taxed on the cash-out amount (ex. the BRRRR method)?

Thanks so much for your help - Brad

All,

Open to suggestions here.  We have upgraded our current home over 6 years to the point where we will be losing money if we spend another dime on it (in a highly desirable school district).  We have about $114-140k in equity, but we really need more space for the expanding family.  We haven't ever mixed our personal $$ with investment $$.  We are considering cash-out refinancing & renting our current home out.  80% of that equity of $114k in a Cash-Out refi is $91k to invest in our new personal home.

Do any of you have insights or experience leveraging personal property with investment properties? 

Should we go through the process to move our new "rental" under an LLC?

Thanks - Brad

All,

I'm looking to join or put together a real estate investment group in the Southeast portion of Houston.  I live in Friendswood and would like to connect & meet up virtually for now or in-person (hopefully) in the next months or so.

Hit me up if there is one already or if you'd be interested in Joining!

Thanks - Brad

I use personal capital to manage all our personal finance & investments. I was wondering if anyone has any advice or experience on the value of a adding CFP for help managing investment capital? Not looking for “investment” advice but someone to keep keep us in line so we don’t over leverage ourselves or hold onto too much investable cash.

Any thoughts or advice here would be greatly appreciated!