All Forum Posts by: JayCinta Henry

OK so property can remain in own name and use the same SSN. But best

A DBA would not be considered an entity that is the best way to remove the danger of an investment property from own name, correct? Best entity would be at least LLC? If that's the case does the property need to be transferred into the LLC's name, the whole gamut of paperwork? Or what all needs to be transferred into the LLC?

Wife asked - When applying for a EIN number for a rental property in Texas what type of business should I use?

And I add thusly, Prop. Manager requested a W9. If you have only one rental unit for now can you prefer to use an EIN to file for tax returns attached or included in your personal returns? If so do you have to have a DBA or LLC, being that it's just one unit for now?

Or at this stage (1 unit) what is the norm?

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*This link comes directly from our calculators, based on information input by the member who posted.

I heard in a podcast that if you live in a primary home for 2 of 5 years of ownership, that you won't have to pay CGT when you sell it.

Just trying to make sure I got this right - say you bought a home in 01/2018 for say $200k. Your home is now worth $300k and you have been living there as a primary home since 01/2018. After next 01/2020 you can sell that home after that date and not have to pay CGT on the 100k, is that about right? 

I have seen recommendations that you submit multiple offers in a week while on the hunt. How do you submit multiple offers? Do you have your agent submit say 10... 20 offers on  properties you are interested in? I could see that meeting some resistance from your agent, yes, no? Are these many offer being submitted sight unseen?

Congratulations @Jason C.

That is quite inspiring

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $130,000
Cash invested: $30,000

Single family unit. Needed a little bit of work - removed old stinky carpets, paint, new water heater & electric central AC unit by home warranty.

What made you interested in investing in this type of deal?

It was valued lower than market value. I didn't know BP then, my wife & I were just looking for an investment property.

How did you find this deal and how did you negotiate it?

Found it on mls, made an offer

How did you finance this deal?

Conventional loan. Knowing what I know now from BP I pro'ly would do that differently

How did you add value to the deal?

Removed old stinky carpets. Painted, installed new floors, water heater & electric central AC unit by home warranty, etc.

What was the outcome?

Lots of sweat, great deal!

Lessons learned? Challenges?

First and last rehab I do. Hire out the work.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Real estate agent is an old friend

Thanx!

I am ready to sign up using the coupon code "123" for a yearly membership but the purchase button is not active neither is it going active. What do i need to do here and I do want to utilize the coupon code?

I am New member. I had registered for Wednesday's webinar "How to Buy Your First, Second, or Third Property in the Next 90 Days!" but a pressing need I could not attend. I was sent a link for the archive which is available until this Friday. When I click on the link in my email it brings me to the main page on Webinar archives (see screenshot below) but above webinar is nowhere to be seen. Being new to RE investing and to BP I really need to watch this webinar. How do I get to it?