All Forum Posts by: Caleb Dryden

Here's the scenario...

My wife and I lived in this house for 4 years, rented it out the last 4 and are thinking about selling it. I'm wondering if there are any advantages to putting in an LLC right before I sell it in order to avoid paying more on my taxes this year? I know I'll have to pay capital gains regardless but wanted to see if there was something I'm missing here. Thanks in advance for your feedback.

Hi there, I've been studying up/interested in RE for the past 8 years or so.  It wasn't until last year that I became actively involved in RE investing. Currently, I've done 4 deals and looking to ramp up that number. I'm looking for anybody out there who is interested in becoming a private investor in future deals with me. I shoot for somewhere between 8-11% interest. Payout schedule can be discussed. I'm currently investing in SW Michigan between Benton Harbor and New Buffalo. Please contact me via BP if you are interested or have any questions for me. I look forward to hearing from you. 

@Herve Francois thanks for sharing this information. I appreciate it! If there's anything I can do for you please don't hesitate to ask. Best of luck!

@Adrian Hollifield thanks for your question. I think many new investors are faced with similar questions when starting out. Using a brand new strategy can be intimidating. I know because that was me 6 months ago. I too struggled with the financing part of the BRRRR. What I did was apply for a HELOC as well as raised private funds. It wasn't the most fun process filing all that paperwork but well worth it in the end. What I love about funding a deal this way (eotu cash) is the amazing amount of leverage you have in negotiating and finding the right BRRRR property for you. To break it down a step further; I paid my investors 9% monthly for 6 months and 5% on the small amount used from my HELOC. After everything was renovated and rented, I refinanced and pulled out all the funds to pay off my HELOC and investors. But now I have a property in my name that is cash flowing and updated. All of this with $0 out of my pocket. Pretty cool stuff! Hope this helps...

@Herve Francois I don't have contacts in DC but saw you're investing in Jacksonville. Do you have any reputable brokers and/or realestate agents, property management companies you've used or know? I just started looking in that area but don't know where to start. Thanks in advance!

@Ed Neu if you could add me to your buyers list for indi that would be great. Thanks

@Anthony White awesome to hear about your progress! I am also a teacher and on the same path as you. Great story! Thanks for sharing and best of luck down the road.

@John Park this is too good. I wouldn't know to cry or laugh in your situation. Keep us posted on how things unfold. Is your property manager certified for ghost removal? Ha

Hey all, I've successfully purchased my first property using the BRRRR strategy. I'm in the process of Renovation and it's been a bit slow going due to contractor being backed up. I'm doing some DIY as well so hoping they will lessen the blow since I'm currently paying investors monthly interest. ARV is at $130,000, I purchased for $85,000 and needs $15,000 worth of work. I'm hoping to get approved to pull 80% out of the deal after 6 months. The house is 15 minutes away from where I live. Any thoughts/advice as this is my first time going through with a BRRRR deal? Appreciate the feedback...

Hey all, I've successfully purchased my first property using the BRRRR strategy. I'm in the process of Renovation and it's been a bit slow going due to contractor being backed up. I'm doing some DIY as well so hoping they will lessen the blow since I'm currently paying investors monthly interest. ARV is at $130,000, I purchased for $85,000 and needs $15,000 worth of work. I'm hoping to get approved to pull 80% out of the deal after 6 months. The house is 15 minutes away from where I live. Any thoughts/advice as this is my first time going through with a BRRRR deal? Appreciate the feedback...