All Forum Posts by: Carl Gryska

Hello, I will be visiting family in Utica area

for the next 11 days and wanted to know if anyone

out there is an active investor in the Utica area. I am

looking at a few different markets to purchase more

rental property and since I am from upstate N Y I thought

i would check it out while I am there. Let me know

Thank you

How does one go about being a private money lender?

Is there a standard contract available?

What are the standard interest rates?

Does one charge points?

How long is a private money loan typically offered for?

What is the standard percentage of loan to ARV?

Aside from fix and flips, do private money lenders loan on rental properties?

Anyone know the name of a good guide or book on this?

Eric, GM Property Group looks great!

I'm not interested in managing any of my property

I need good management and I need good advice on

what to buy and where to buy it

Can you help me with that as well?

Hello Mark, I wasn't really looking at single-family since I own some single families in Arizona. However I don't care what it is as long is my ROI is good.

What I would need if I bought there is a good property manager. Do you know anyone?

I am originally from Utica NY but live in Los Angeles CA. I have been looking at Rochester recently as an area to potentially invest in. I have family in Rochester

none of which are RE investors.

Anyone in Rochester have any advice?

I really like Jim Cramer.

I watch his show, read 2 of his books

And I also subscribe to his action alerts.

So far so good for me

So good to start young!

Investors have made and lost fortunes in both.

They both have pro's and con's. Stocks are subject to faster swings

but can be bought and sold in a heart beat. RE is tangible and more practicle

( if you buy in the right place) but buying and selling is much slower. I like both for diversity. It annoys me to listen to stock investors say its the best investment and RE investors giving the same argument. Buy what you know, diversify and you should be fine.

Thank you Cris, I know someone that does that. I will look into it

I have about $270k equity on the 4 homes. Only one of the 4 houses has a loan which is $55k.One problem I face is that if you live in California, as I do, and you have a LLC, S or C Corp in any other state in the nation, California requires a $800 annual fee for each entity. Also a single member LLC, which I have, offers little protection. I can set up a C corp and add it as a member. That would double my $800 fee to California. I can add a relative to the LLC, which would mean I would be giving away part of my investments.

An insurance agent who had been in the business for 35 yrs told me he never had a claim go beyond the limits. I am more concerned about being in a car accident and having someone trying to sue for all my assets. I am thinking that good insurance coverage and an umbrella policy might be all I need.

Many wealthy people put everything into Trust's, Corp's and LLC's. IF the rich do it I one would think it's the thing to do. This is a large chunk of my net worth and I don't want to loose it. I would also like to continue buying income property and want to protect it. At the same time I don't want to spend a lot of money doing so. My property thus far does not generate that much income and neither do I.

I bought the LLC Master Machine and though I think there is some valuable information I wish I saved the money for something else. The free e-mail Q and A that Al gives you is very vague and Al and his team have not been very responsive to my questions. So far he has given me other Attorneys contact information and he continually plugs his own private consultation. If I am going to pay an attorney to set up my LLC then why would I need his program?!!

I wish I never bought this