All Forum Posts by: Account Closed

@Mariah Porter -  I think the bigger question is what are you looking for from your investment?  In other words - there are plenty of markets in the U.S. right now that don't provide a positive cash flow, but there are investors investing there every day - some markets in CA have properties being outbid by over 100k!  Then you have some investors that focus strictly on cash flowing properties - maybe to cover expenses, maybe to replace income - everybody has their reason and they all work.  There are many markets out there - and there are some markets that offer appreciation AND cash flow as well, and I don't mean nominal appreciation.  We are doing new builds in FL right now that cash flow day one, have the opportunity to have equity (and yes more than your downpayment) day one, as well as being in a rapidly growing market.  In a recent article, SW Florida was named as the second largest in home development in the nation!  (https://www.winknews.com/2021/...).  All I am saying is that - there is a lot out there to explore - start with what your goal in investing is - then start working to analyze and develop in markets that will allow you to start achieving this.  Feel free to message me if you have any questions!

@Timothy Hopkins - Great question! First - congrats on the purchase of your first investment property! As far as getting into investing with your IRA - you mentioned cashing it in to purchase another property. You obviously could do that, take the hit, and reinvest into another investment property. You could also take a look at potentially setting up a self directed IRA account and use that to purchase the investment property - thus not having to take the tax hit until you are taking distributions at 59 1/2. This is assuming this is a traditional IRA of course and not a ROTH. You could potentially go even one step further - self direct your IRA and look into non recourse lenders to leverage the lender's money to gain more properties in your IRA. At least a few ways to go - but I would base the decision on at least a few things: (1) your age, (2) the amount in the IRA itself, (3) the properties you are looking at and the investment required, (4) weighing the cost of taxes and penalties (if under retirement age) vs. cost of lending, (5) your overall holdings - are you diversified in other asset classes with other investments? Hopefully this helps and gives you some other options to consider as you continue your real estate journey!

Eric

@Jennie Sanders  - I figured I would just answer the question for you - we source the property management from our partners in the local market.  Feel free to reach out with any questions you have and I welcome the opportunity to tell you more about our company and the investments we have to offer!

@Douglas Curtiss - I can help you out with Rent to Retirement - this is a topic that has been covered on many forums and many investors have posted their feedback as well.  Below are some links for you to review to get you started.  If you have any questions for me, feel free to reach out!

https://www.biggerpockets.com/users/ericw536/references

https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

https://www.biggerpockets.com/forums/92/topics/893621-rent-to-retirement-review?highlight_post=5222888&page=1#p5222888

https://www.biggerpockets.com/forums/311/topics/915728-experience-with-rent-to-retirement-turnkey?page=1#p5345200

https://www.biggerpockets.com/forums/92/topics/808479-rent-to-retirement-experiences

https://www.biggerpockets.com/forums/12/topics/533693-anyone-worked-with-renttoretirement-turnkey

https://www.biggerpockets.com/forums/92/topics/581730-rent-to-retirement-zach

https://www.biggerpockets.com/forums/48/topics/874096-reviews-on-r2r-and-nch?page=1&utm_source=Iterable&utm_medium=email&utm_campaign=Transactional:%20topic_notification&utm_content=Transactional#p5123754

https://www.biggerpockets.com/forums/311/topics/883772-turnkey-investing-renttoretirement-feedback-reviews?highlight_post=5171720&page=1#p5171720

https://www.biggerpockets.com/users/ZacharyCole/references

@Mary Chries - Hello Mary!  This is a topic that has been covered many times on the forums here in Bigger Pockets - I am happy to share some links with you to the other forums so you can see other investor's experience with our organization.  Also, feel free to reach out with any questions!

Here are the links to some of the other posts:

https://www.biggerpockets.com/users/ericw536/references

https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

https://www.biggerpockets.com/forums/92/topics/893621-rent-to-retirement-review?highlight_post=5222888&page=1#p5222888

https://www.biggerpockets.com/forums/311/topics/915728-experience-with-rent-to-retirement-turnkey?page=1#p5345200

https://www.biggerpockets.com/forums/92/topics/808479-rent-to-retirement-experiences

https://www.biggerpockets.com/forums/12/topics/533693-anyone-worked-with-renttoretirement-turnkey

https://www.biggerpockets.com/forums/92/topics/581730-rent-to-retirement-zach

https://www.biggerpockets.com/forums/48/topics/874096-reviews-on-r2r-and-nch?page=1&utm_source=Iterable&utm_medium=email&utm_campaign=Transactional:%20topic_notification&utm_content=Transactional#p5123754

https://www.biggerpockets.com/forums/311/topics/883772-turnkey-investing-renttoretirement-feedback-reviews?highlight_post=5171720&page=1#p5171720

https://www.biggerpockets.com/users/ZacharyCole/references

Hey Darryl welcome to the forums! This is absolutely the best place to post questions - there is an amazing community of folks here that you will encounter - lots of knowledge, experience, and some really great people! To your question - of course the equity in your property is a great tool to leverage. I think the first question you need to ask yourself is what is your goal? Are you looking at getting into flipping properties, or implementing the BRRR strategy, picking up rentals for your portfolio? There are no wrong answers - each investor has their own "flavor" if you will. When I speak with investors one of the things we talk about is your "why" - why are you investing in real estate - is it to replace your active income, to supplement retirement, to create a legacy for the next generation, etc? Now we know WHY we are doing this, we need to focus on WHAT it is we are after - of course appreciation and cash flow (if a rental) but more specifically what is that number for you? - $1k a month, $10k a month, etc. Finally we start looking at what resources we have available and determining the best way to use them to get where you want to be. I know this doesn't give you a specific to-do list - but hopefully it sheds some light on the thought process involved before just doing a cash-out refi or securing a HELOC and still wondering what to do with those funds!

Hello Riza,

I have worked with thousands of investors over the years and have worked with them to get their entities filed, foreign filed, etc. etc. The short answer is you would register your CA LLC into IL under the LLC name that you have in CA. Example: If you are ABC, LLC with assumed name of XYZ Holdings - ABC, LLC would be the registration name in Illinois. Assumed names are typically for DBA (doing business as), or if the company name is not available in the state of Illinois because someone else has already registered it there. Hope that helps!

Eric

What are you looking for in a "deal". Maybe taking some time to figure out what you are trying to accomplish and working backwards from there - coming up with action items that need to be implemented along the way. For example: when you say you are looking at getting your first rental property - is that in your area? out of state? How are you planning on acquiring this - is this through house hacking, turnkey, MLS? Getting involved in passive income investing doesn't have to be overly complicated - there are just many ways to get started and the different paths to ownership have different answers as to what those next steps look like. Feel free to message me as well!

Hello all!  This topic has been on many many forum posts, so I would be happy to direct you to some of the other posts and help out with getting you connected with lots of folks on the forums and investors that have worked with us!  Here you go!  Feel free to reach out with any questions - and if you are attending the Bigger Pockets Conference - come visit us in person!

https://www.biggerpockets.com/users/ZacharyCole/references

https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

https://www.biggerpockets.com/forums/92/topics/893621-rent-to-retirement-review?highlight_post=5222888&page=1#p5222888

https://www.biggerpockets.com/forums/311/topics/915728-experience-with-rent-to-retirement-turnkey?page=1#p5345200

https://www.biggerpockets.com/forums/92/topics/808479-rent-to-retirement-experiences

https://www.biggerpockets.com/forums/12/topics/533693-anyone-worked-with-renttoretirement-turnkey

https://www.biggerpockets.com/forums/92/topics/581730-rent-to-retirement-zach

https://www.biggerpockets.com/forums/48/topics/874096-reviews-on-r2r-and-nch?page=1&utm_source=Iterable&utm_medium=email&utm_campaign=Transactional:%20topic_notification&utm_content=Transactional#p5123754

https://www.biggerpockets.com/forums/311/topics/883772-turnkey-investing-renttoretirement-feedback-reviews?highlight_post=5171720&page=1#p5171720

https://www.biggerpockets.com/users/ericw536/references

Hey everyone!  Really looking forward to meeting some of you great people at the event, sharing ideas and networking with some awesome professionals!  Travelling from Reno, NV, staying at the Sheraton and I will be there with my team at our booth in the exhibitor hall - stop by and say hi!