All Forum Posts by: Jason Allen

Most of the time, it is not necessary on a house hack. You'll receive more favorable rates with a personal loan. Once you start to scale and/or need to use a loan in the name of an entity, you'll want to start an LLC for that and accounting purposes.

I own a duplex 3 blocks away. Motivated seller. 20% down. I met the tenants and asked what they are willing to pay. DSCR loan at 6.75%. Current rents are $1,400 per side. Market rents are at least $2,000 per side. DSCR is at 1:1 even with below market rents. PITI is $3,200 a month.

 These deals are easy to find in C-class areas and off market. I am currently working on a deal that I expect to cash flow in an A-class area. However, this will require me to at least 20% down.

I'll find out more about how the appraisals are done for the sheriff's auctions. It is also possible to purchase the properties before or after the auction up until the court confirms the foreclosure. This is the property owner's right of redemption, and it typically last no more than 90 days.

 I'm guessing the appraisers for the auction have some sort idea on the condition of the property? Zillow is not always the best indicator of market value. 

Newark can be great for investments. However, the BRRR's often take longer than planned. I have a client utilizing this method out there.

Sounds like a legit plan. From what I can tell, it looks like most of the properties go for about 70% of market value at auction. Ideally, you'd want to be all in at 70% ARV(including repairs).

This all depends on your risk tolerance. While burdensome (and unnecessary most of the time), having each property in its own LLC would provide the greatest protection for your personal and other business assets.

I'd recommend investing in an affordable appreciating market - like Columbus, Ohio. With multiple fortune 500 companies (like Intel, Google, and Amazon) investing here, many out of state investors investing here and seeing significant returns.

I suggest investing in Columbus, Ohio. Zillow predicts Columbus to be the 2nd hottest RE market in country due so many fortune 500 companies investing here (like Intel and google).