All Forum Posts by: Joshua Boyce

Hey! I’d love to be included in this idea. I’m a Pittsburgh native but living in FL at the moment. I’m a newbie as well with 2 rentals.

I want to continue investing in Pittsburgh. My wife and I are there often as both of our families are still there.

I might not be able to attend all in person meetings, but I can definitely contribute from afar until we start flying again. I’m willing to help coordinate as well.

Hey Everyone,

Complex situation here (or maybe I'm just making it complex). I'll try to get the main details quick.

I own a house free and clear in an LLC. I have family living in the house and I don't charge them anything. NO PROFIT.

Applying for a HELOC just to have ready in the event the market turns down and we can grab something on the cheap. I'm running into road blocks due to it being in the LLC name. HELOCs are considered personal, and the LLC name categorizes it under business. Since ZERO INCOME is coming in, no one will loan under the business category.

What to do? 

My thoughts are transfer the house to personal name to get the HELOC, but I have 2 concerns.

1. The book keeping and taxes get messy since (eventually) the house will be producing income into my personal bank account.

2. Does this play well into my long term plan of owning 8 rentals free and clear? My thinking is that I could have all 8 in personal name with a strong umbrella policy. I'll just have to hire a bookkeeper to keep things organized and in line with our tax strategy. 

Am I over thinking this? 

Please punch holes in this plan and help me see blind-spots or options I'm missing. Thank you!

I’d like to buy my rentals with my LLC, but I told I can only use a commercial loan in that case. I was preapproved but I’m not sure how good the terms are and what to negotiate. Does it makes sense to buy in the LLC and not go for conventional loans? The bank said if it bought in my name and then transferred, I’d owe a significant tax. I’m trying to figure out my best loan option and if these terms are good and should be negotiated. Thanks for the advice! Term: 20 year Interest: 5.5% Re-pricing every 5 years at current treasury rate plus 2.7%

Hey! I'm asking for recommendations for agents in Pittsburgh that have experience working with investors. I'm a buy and hold investor looking to buy in the Pittsburgh area.

Thank you all (yinz) very much.  

Hey everyone! I'm looking for investor friendly agents or wholesalers in the Huntsville and surrounding areas. I'd ultimately like to add someone to the team from that area that I could help make some money each year. I'll be buying 4-5 houses per year and am looking for a good teammate to make some money with.

Truthfully, I'm looking to make any connects in that area as I'm just branching out to that area. I look forward to meeting everyone!

I'd appreciate any and all suggestions.

Hi Everyone! When marketing to a trust, who do you address the letter to? Do you bother sending to trust at all? Also does TRE stand for trust? Thanks for any advice!

@Mark F. @Aaron Tjomsland

Thanks a lot for the tips! I do follow up regularly. 

Since it's a numbers game, I just need to get more marketing out there. 

Thanks Rolanda Eldridge! I'll hunt those down for sure.

Hey Everyone! 

I wanted to ask for help. We're a bit frustrated because we've been marketing every week to probates in the area without luck. We've had a few calls, but mainly people just kicking the tires. It's starting out slow for us. I know it's a tough time in the real estate world, but surely there are still deals to be had, right? Anyway, I'm tired of sitting back and waiting for the phone to ring. Can anyone suggest a strategy to help accompany our letters? We're on a limit budget so we're trying to find the "next step". Anyone have good ideas for an extra step we could add? I appreciate your input. 

Hey Cameron! I avoid South St. Pete particularly the Childs park area. All of my friends are St. Pete police. They give me great insight to what areas to avoid and what areas are moving in the right direction. If I can help in any way, don't hesitate to ask. I'm happy to help