All Forum Posts by: Joel Duby

So, working a deal what I think has great potential. 

Description: 10 unit apartment complex on top if two commercial units. Brings in 11k per mo, rents need raising. Final price not secured yet but guessing it'll land on 900k. They want to seller finance only. 20 yr term 6%. They want $350k down, 275k will go towards a private interest only loan that is due in 1yr. 

My question: I don't want to put 350k down. They want to seller finance only otherwise I'd go get my own commercial loan. What do I do here? 

thank you 

My wife and I currently make a little over 200k together. We added a condo that we rent out that cash flows and are looking to do more and more. Is there a tax advantage to forming a LLC and run investments though that versus tying it all together?

Thank you for the replies. Much appreciated!

Probably dumbest question ever. Say you purchase a rental in November 2022 and have tenants immediately. Can write off depreciation for the full amount in that year? Second question. Say I want to build a house intended use airbnb. Buy property this spring 2023, building takes place all summer and fall into winter. Completes in spring 2024. Can I write if depreciation for house in 2023 even if it's had no tenants?

Heloc is at 8%. So as you know the first 10 years it's interest only payments, but that was ok because I had the funds to make extra payments every month to eventually paying the loan off in around 7 years. I did this with the mindset of Dave Ramsey style thought process. As I'm just starting out in my learning, I'm trying think more like Robert Kiyosaki. Basically the reason I'm wondering if I made a mistake is that if i took a 30yr mortgage out, I could put more cash flow in my pocket per month, not pay extra payments, and use the extra money for another investment. Thoughts?

Starting my career as a real estate investor. I started this new journey 2 weeks ago and I'm committed and all in. The books I've read in the last couple weeks have really opened up my eyes, but I'm still a toddler here. Last fall I purchased a condo using a HELOC with the intention of making double principal payments to offset high interest rate and the draw period, as well as avoiding closing costs. Well, at this point I'm seeing I may have made a mistake. Would it be wise to transition this into a mortgage and put more cash flow in my pocket each month?