All Forum Posts by: Gregory Schwartz

BP,

A slight twist on the classic question, "should I get licensed?"

In 6 months I will be transitioning out of the military and into civilian life, with no job lined up. I have a very clear 5 year goal but need some help with the next steps. The goal is to use a multifamily value add + buy and hold (basically BRRR) to build a portfolio that provides financial independence (roughly 75k a year) for me and my family.

So what career would you choose if you were just starting out as apartment investor? 

Its worth noting that I have a 6 month financial runway to support my wife and I, and have saved enough for a down payment on a small-ish multifamily. 

@Eamonn McElroy I think you hit this on the head, I'm gonna need to contact a local CPA and attorney. I purchased the property completely in my name with funds out of my personal savings account. The rental income is coming into a business account owned by the LLC and the mortgage is being paid out of the same business account.

I was optimistically thinking this would be a simple fix. 

I'll keep this short....

My partner and I own an LLC 50/50. The plan is to use this to hold up to 5 or so properties jointly.

 I used my 50% start up funding to purchase our first duplex. The mortgage and title is currently in my name.

What is the best way to transfer the title to the LLC?

I haven't spoken to a lawyer yet, I was hoping to get educated prior to that conversation.

Thanks

My wife proudly announced that she listened to her first BP podcast yesterday. She has been more involved in helping with the duplex we own and wants to take a more active role in our future plans to grow in multifamily investing. So my question is what episodes should I have her listen to first?

Thanks

Thanks for the fee back. I kinda figured that submetering would be the best option but was hoping someone might have found a way to get predictable returns by upgrading to solar. For those interested Mr. Money Mustache has a very good article on the subject...

http://www.mrmoneymustache.com/2018/02/07/diy-solar-power/

I know submetering is a commonly used method to lower cost and increase NOI on apartment buildings. Is anyone using solar panels for a similar effect? I'd be interested in anyone who has successfully used solar panels and what they saw in terms of cost savings?

My rough math seems promising....

10kw/year kit cost roughly $18-20k with the installation

Savings based on pvwatts.nrel.gov (in the Austin TX area) = $1700 / year

Cash on Cash = 9%

ARV based on 6 CAP increase = $28,000 (47% return on investment)

Great thread, 

1. Save 40-50% of my take-home pay, so I will have a good capital cushion for my transition out of my current job

2. Earn my TX real estate license, so I can get a job that gives me a competitive advantage 

3. Complete my first BRRR by refinancing the equity in my duplex, because BRRR is the coooolest

4. Read, read, read 

@Jim K. I couldn’t agree with you more. I find that I worry too much about gaps in my investigation plan and all to often forget that I have a lot going for me. And I feel like most people have something that gives them an advantage over the competition. BP is propbaly the biggest advantage we all have in common. Thanks @Joshua Dorkin

@Katie Neason awesome!  So now I just need a good deal on a RV so we have somewhere to camp out while the house is rented. 

BP,

As motivated investors, we should focus and act on our strengths. Here are mine:

-I follow and interact on BP

-I started this journey in my 20s

-I have a wife who actively participates (and she's smart)

-I have a good paying job (for now) that helps me save

What is your number one competitive advantage?!