All Forum Posts by: Jason Giomboni

Whether you need a license to buy mortgage notes depends on the specific regulations of your home state and the state where the real estate is located.

Here are some key points to consider:

1. Home State Licensing Requirements: Some states require individuals or entities that buy mortgage notes to be licensed, especially if you are buying them as part of a business or investment strategy. It is important to check with your state’s regulatory authority to understand the specific requirements.

2. State Where the Real Estate is Located: In addition to your home state, the state where the real estate securing the mortgage note is located may also have its own licensing requirements. Some states have specific rules for buying, selling, or servicing mortgage notes that you must adhere to, even if you are out-of-state.

3.Federal Regulations: While state regulations are the primary concern, be aware of any federal regulations that may apply, particularly if you are dealing with notes related to federally insured mortgages.

4. Consult a Professional: Given the complexity and variability of these regulations, it is advisable to consult with a real estate attorney or a professional specializing in mortgage notes to ensure compliance with all applicable laws.

For detailed and accurate information, please contact your state’s regulatory authority and seek professional advice.

Oh, that's great! You can contact your local real estate agent.

Hi Brian

As a real estate agent exploring opportunities in the Dallas/Fort Worth area, I would love to connect with experienced cash buyers in the region. I'm particularly interested in understanding your perspectives on a few key points:

1. Types of Properties for Investment:

- What types of properties are currently catching your attention for investment? Are there specific characteristics or features you prioritize?

2. Focus Areas:

- Are there specific areas within Dallas or Fort Worth that you are focusing on? What makes these areas particularly attractive for investment?

3. Market Insights:

- Any tips or insights on navigating the current market conditions? How are you finding deals, and what strategies are proving successful for you?

Your experiences and insights are incredibly valuable, and I am eager to learn from those actively involved in the market. Let's connect and share our knowledge to build meaningful and beneficial connections.

Looking forward to your responses!

Best regards,
Jason

Hi Carlos,

It's great to hear you're considering getting into real estate and that you have potential tenants lined up! Here are some suggestions and insights based on your concerns:

1. Condition of Properties: It's understandable to feel hesitant about purchasing older multi-family homes that need a lot of work. As a first-time buyer, you might want to look for properties that are in better condition to minimize immediate repair costs and effort. Consider newer properties or those that have been recently renovated. You could also look into getting a detailed inspection done to understand the exact scope of any necessary repairs before making a decision.

2. Single-Family Home Concerns: Your worry about renting out a 5-bedroom home once your current tenants move out is valid. Larger homes can sometimes be more challenging to rent out or sell. One strategy could be to look for a property with flexible spaces that can be easily adapted for different uses (e.g., converting a bedroom into an office or studio). Additionally, you might consider properties in popular rental areas where larger homes are in demand.

3. Location in Cincinnati: Since you're relatively new to Cincinnati, it might be helpful to consult with a local real estate agent who has a deep understanding of the area. They can provide insights into which neighborhoods are safe and have strong rental markets. Some areas to consider might include Hyde Park, Oakley, and Mount Lookout, known for their desirable living conditions and strong community presence.

4. General Advice: To ease your concerns, take your time to thoroughly research and evaluate each potential property. Don’t hesitate to seek advice from experienced real estate investors, join local real estate groups, and attend workshops or seminars. Additionally, consider working with a realtor who specializes in investment properties; they can offer valuable insights and help you navigate the process more confidently.

Remember, it’s normal to feel uncertain when making your first property purchase. Take your time, do your due diligence, and trust your instincts. Best of luck in your real estate journey!

Thank you
Jason Giomboni Team  - Exp Realty

Hello!

It's fantastic that you're helping first-time home buyers! Here are some tips and advice:

It's great to see your commitment to helping first-time home buyers! Here are some key tips and advice:

1. Get Pre-Approved for a Mortgage: Understanding your budget and showing sellers you're a serious buyer is crucial.

2. Research Neighborhoods: Investigate areas with good schools, low crime rates, and growth potential.

3. Hire an Experienced Real Estate Agent: A knowledgeable agent can guide you through the process and help you avoid common pitfalls.

4. Don't Skip the Home Inspection**: Uncovering potential issues early can save you a lot of trouble later.

5. Plan for the Future: Make sure the home can accommodate your long-term plans.

6. Budget for Closing Costs: Be prepared for these costs, which can be 2-5% of the loan amount.

7. Avoid Major Financial Changes: Don't make large purchases or change jobs before closing, as this can affect your loan approval.

Pitfalls to avoid:

1. Overextending Financially: Stick to your budget to avoid becoming house poor.

2. Ignoring Hidden Costs: Consider maintenance, property taxes, and utilities in your budget.

3. Emotional Purchases: Base your decisions on facts, not just emotions.

 Thank you

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Timeless elegance meets modern updates

4 spacious bedrooms

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 Welcome Olivier Colson

Hi there,

It's fantastic to hear about your ambition to start a RE Investment Fund in Paraguay! It sounds like you've already made significant progress, and it's great that you're seeking feedback. Here are my thoughts based on your outlined steps, with a focus on the U.S. aspects of your plan:

1. Financial Projections, Business Plan, and Investor Pitch Deck: It's excellent that you have these completed. Make sure they are detailed and realistic to build credibility with potential investors.

2. Initial Conversations with Potential Investors: This step is crucial. Use these conversations to refine your pitch and understand investor concerns and expectations. Keep detailed notes and follow up on feedback.

3. Choosing Between 506b or 506c: Both have their pros and cons. 506(b) allows you to raise money from accredited and up to 35 non-accredited investors, but you can't publicly advertise. 506(c) allows for public advertising but only accredited investors can participate. Consult with your syndication attorney to decide which is best for your situation.

4. Hire Accountants in Both Paraguay and the U.S.: Ensuring compliance with tax regulations in both countries is vital. An experienced accountant can also help you navigate any tax treaties between the U.S. and Paraguay to avoid double taxation.

5. Syndication Attorney: This is a critical hire. Costs can vary widely, but you might expect to pay anywhere from $10,000 to $25,000 for a comprehensive PPM (Private Placement Memorandum), Operating Agreement, and Subscription Agreement. Prices depend on the complexity of your fund and the attorney's expertise.

6. Create a U.S. Based LLC: This LLC will likely be a holding company for your investments in Paraguay. Make sure it's structured correctly for tax efficiency and legal protection. Your attorney and accountant can guide you through this process.

7. Further Investor Conversations: Consistent communication and building relationships are key. Make sure to keep potential investors updated on your progress and how you're addressing any feedback or concerns they've raised.

Your plan looks solid, and it seems like you are on the right track. Engaging with professionals who have experience in international real estate investments will be invaluable. Best of luck with your fund, and feel free to reach out if you have more questions!

Thank you