All Forum Posts by: Jordan Kelly

I am looking at a property and was told that the sellers would otherwise be fine with terms, but they're looking to 1031. Are there any creative finance options here to get the deal done?

Hello everyone, I am currently under contract for a home and trying to get out of the deal. The second floor "bedroom" doesn't have any windows. He listed in the agent notes that it doesn't have any windows, but how can he legally list it as a 3/2 if legal bedrooms require two means of egress? Any heal would be greatly appreciated!

Hello everyone!

I am a small time investor in the Indianapolis area and am looking for meet ups or meet up recommendations. I’ve tried looking online but only seem to find very structured, paid to play type meet ups. Any suggestions would be greatly appreciated!

From the time I was 12 years old mowing lawns my mom would always take half of my money and put it in a savings account for college. At the time I hated it, as I hard to work twice as much to get the things I wanted. Although I hated it at the time it was nice when I was finally going away for school(Thanks Mom). I moved down to Indianapolis for school and got an apartment with a friend. After one year at my apartment my savings was down about 75% and I still had a few years to go. The next year I moved into a cheaper house with 4 roommates. It was cheaper, but not exactly my ideal living situation. I had been working while in school so I decided I wanted to buy a house as our landlord was charging us $2250 for a four bed and I knew I could get my friends to pay me rather than him. With a a little more than a month left on our lease I found my house and closed just before our lease ended. I got a fully renovated house for $75K with 3.5% down that was worth 110K. I rented out the remaining rooms to my friends and was able to cash flow $400 a month while living for free. Now my cash flow goes into a savings account till the semester is over then I use it to pay for school. Since buying my house in I haven't taken on any new debt and I continue to watch my friends take out loans to pay for their living situation and school. 

I would love to get see that blog post as well.

So I recently learned that some states don't have any income tax. Which made me look up Wyoming and if they were taxed on rental income. While looking I came across something called a dynasty trust it said you could have an LLC in Wyoming, transfer your properties to it and you'd be sheltered from estate taxes for up to 1000 years. Any have more information about this?

@Steven Lee

 @Chyniece Cox

I have not, id never heard of a non qualified, I'm pretty new to the finance game. My current houses are traditional 30 year mortgages, but I'm considering my first BRRRR project next. What would you guys recommend if I plan on going that route?

Thanks for the quick responses!!

I have 2 single family homes and am looking to get a third or possibly a duplex, but am having trouble finding financing. I have a 750+ credit score and have never missed a payment on either mortgage, but my income is all commission. The banks I spoke with wanted me to work there 2 years before they'd consider lending to me and they said it would still be difficult.  Any suggestions for working around this?