All Forum Posts by: Jake S.

Jake S. has started 45 posts and replied 829 times.

@Brady Ascheman the cashflow is deferred until interest rates come down. It doesn’t mean you can not buy anything, it just means that for a year or two you might not cashflow as well as you like. You will still have principle pay down, and appreciation.

If you can not wait then you can do like sone of our clients, buy, empty, remodel, rent at higher rates, and refinance, buy another. If you are not experienced in remodeling, then you will need a trusted contractor or hire a company like ours that assists in purchase, rehab, and management after.

I couldnt recommend working with Amber and Rick Gonion enough. It's a no brainer.

Hoping to work with them again soon ;)

0 Votes

Minneapolis, Minnesota

Quote from @Corey Duran:

In the same process as you. I am leaning toward the hub and spoke model for my business structure/asset protection plan. Following to see if you get any good recommendations. I can share my contact if I find one..

Thanks Corey!

0 Votes

Minneapolis, Minnesota

Quote from @Randy Rodenhouse:

General note: It is important to have some asset protection but do not go overboard until you have some assets to protect. I see it all the time people spending a bunch of time and money on asset protection and have a little to protect. Instead they should be spending their time on finding properties and making deals to make money. Again it is important to have asset protection and I would just start by forming a simple LLC in your state.

Thanks Randy, yeah im getting to the point where I need to start structuring it a bit more. Like you said, I kept it simple for a few years and it was the right way to go!

0 Votes

Minneapolis, Minnesota

Id personally go the DSCR route so I can own it within a LLC and shoot for 20% down. The DSCR route is a hell of a lot simpler to get approved for as it looks at the properties performance and not your financial scenario. The drawback is a bit higher rates.

0 Votes

Im sure youll find a house that suits your needs eventually but yeah a good househack home can be tough to come by. Personally, I like owning where I live. I like the perks and renting has NEVER appealed to me. And as you said, Cardone is a salesman.

Best of luck to you!

2 Votes

New York City, New York

Hey guys! Im searching for referrals to a solid Attorney to help with asset protection strategies and entity structuring. Trying to make myself and my plan "bulletproof"

Id appreciate any references! Thanks :)

1 Vote

Minneapolis, Minnesota

Ray - Check out the AirBnB Calculator to help with your data

1 Vote

Fayetteville, North Carolina

Can always wait until you have a property lined up and ready to close on. But if you are planning on acquiring properties this year (in your home state), you could just open one now to save on time.

1 Vote

If you have no funds, youll need to perhaps bring in a partner and see if they can cover it. Itd also help you establish necessary reserves that will be required.

Perhaps see if you can get a loan on the 1.3m and see if the seller is willing to credit some of the down payment or if the lender will allow the seller to finance the down payment amount. This does add risk so you need to be dialed in on every detail!

I also dont think that interest rate you have is even remotely realistic

1 Vote

Connect with some local credit unions and see if they can offer you lines of credit

0 Votes

Atlanta, Georgia

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All Forum Posts by: Jake S.

Jake S. has started 45 posts and replied 829 times.

Post: Where did Cash Flow Go?

Post: Legal help with asset protection strategies

Post: Legal help with asset protection strategies

Post: Financing first investment

Post: "Live where you rent and rent what you own."

Post: Legal help with asset protection strategies

Post: Using the BRRRR Calculator for Short-Term Rentals

Post: As a Real Estate Investor, when is the best time to start an LLC?

Post: How can I make this work?

Post: Finance Renovation for Airbnb