All Forum Posts by: Joe Capobianco

@Vaughn Smith

Would you recommend opening a small business account for the rental income? Or just the generic checking/savings account?

@Jean Soo hi jean, I also read the book on managing rental properties and had a question on the forms that Brandon recommended through the link.

- Did you get them reviewed by an attorney?

They seem pretty simple but I’m using those forms for my first property and wasn’t sure if it needs to be more detailed for my specific area or usage?

I feel like everyone’s out to get me so I just sent all the forms to my attorney to look at and see what he thinks about them.

Hello, I'm looking for a CPA that specializes in Real Estate and is an investor themselves. Does anyone have any referrals that they can share?

I purchased my SFR in 2017 for $150k. I have $100k left on the loan and have a couple questions regarding pulling cash out, changing the loan and closing costs. Making things easier let's just assume my home didn't increase in value the last 3 years.

1. Am I able to refinance from a 30 yr mortgage into a 15 yr mortgage 3 years after purchase?

2. Will I need to pay closing costs all over again?

3. If I stay with 30 year mortgage and do a cash out refinance, is 80% LTV the max that a bank will give me in cash?

Hopefully I asked these questions clearly. I’m trying to figure out ways to get some more cash for my next property while paying off this loan as quick as possible.

@Joe Homs thank you joe!

A friend and I have common investing goals and decided to partner up and complete it together.

He runs a family business and I’m a skilled tradesman and we each have 1 rental property at the moment.

Is there any advice you would give investing newbies that want to start a business together in the real estate field?

A friend of mine and I have common investing goals and would like to partner up and invest together. He has experience In running a business which is what he’s doing now and I’m a skilled tradesman. We both want to step away from our jobs and ramp up our rental portofilios. I have a single family rental right now and he rents out the other half of his duplex. Since our first purchases and got our feet wet we wanted to 10x this together to hopefully get away from our full time jobs.

We are meeting Sunday to talk more about what we should do before looking at properties together.

I’m looking for advice from the BiggerPockets community to see what actions we should take before looking at projects to get into and also what advice would u give two newbies starting a real estate venture together?

I was also looking at a Book called “every landlords legal guide” for the fact I want to learn about preparing a lease, the precautions when evicting, and how to screen tenants. I was wondering if any of Brandon turners books have this explained or if I should proceed with every landlords legal guide”. feedback from anyone whose read the legal guide book would be greatly appreciated

@Dan Barli I'm located in Old Bridge, NJ and am looking to rent out my primary home sometime next year. Are you somebody i can obtain this information from? 

@Ashish Acharya thank you for the advice

@Paul Allen “Depending on your real estate investing plans, it might be beneficial to begin a relationship now with someone who can provide you with the accounting services you'll need in the future. Otherwise you're likely to be paying for skills your tax preparer isn't using on your return.”

This was the reasoning for my post. This will be my future rental but wanted to build a relationship with an accountant and learn from them on what I can and can’t deduct as well. 

 I wasn’t aware tax preparers offer a free review of my tax returns. Thank you all for the help.