All Forum Posts by: Brandon Kessler

Thanks for the feedback that makes a lot of sense!

Hi all - I have a few questions surrounding the idea of having an LLC or some other form of entity. For background I do not have one currently and only have one rental property that's a single family home but am trying to evaluate the use of one as I invest in more properties in the future.

That said, I see a lot of advice suggesting that you should never pull money out of your LLC. If all of your income is coming from assets under an LLC, how can you ever pay for personal expenses? And at what point and how are you able to use money generated from an LLC for these expenses? Do people typically have some assets not under an LLC to cover personal stuff and other as purely business growth? Thanks so much in advance for any thoughts or insights around this topic!

- Brandon

Hi all - My primary residence in Seattle area has an RV storage lot on the side yard and we do not have an RV nor are we planning on getting one so we want to rent this out as storage. Does anyone have experience renting out portions of your residence for this? What contracts are needed or best approaches with making sure to go about this legally?

Any direction or insight would be hugely appreciated as I’m coming into this with basically no experience. Thanks so much in advance!

Brandon

Thanks all for the feedback. @Scott Wolf the expected cash flow will be negative with the heloc but +450ish once paid off, break even at about 50K paid towards principal. Really the thing that appeals the most to me is the appreciation though and that's where I'm thinking I'll be kicking myself if we were to ever sell this house but maybe that's the wrong perspective to have. Our initial thought was exactly what you're suggesting though, selling the house taking the crazy appreciation and putting it towards other investments.

Hi John - thanks for the quick turnaround and insight. I'll try to connect with some lenders and get some thoughts.

Hi, I'm Brandon currently living in San Diego but moving to a new home in Seattle next month. My wife and I are making the move because of a job relocation and decided to buy a new home in Seattle, keep our home here in San Diego, and ultimately rent it out - so we more or less stumbled into real estate investing accidentally. Through that process and general research, I came across this community which has opened my mind to what's possible within this world.

That said, we financed the purchase of our Seattle home in large with a HELOC on our existing home, we also have student loan debt, car loan debt, and are paying off an AC unit as well. My question is, are there any best practices in terms of balancing paying down that debt as opposed to letting those payments ride and saving up for a next investment instead - and how does the current state of the industry play into that?

Thanks so much for any insight in advance!

Brandon