All Forum Posts by: Jordyn Gegg

@Andrew Freed, 

You don't have any issues from a tax perspective with bringing passive and active income under the same entity? And you don't need to be licensed if you're just managing your own stuff do you?

I have several properties each in different entities, with different partners. I am managing all of the properties, and am considering setting up a company at the top to take my interest in each entity, and serve as one name I can manage all of the properties under. 

Would it make sense to setup the one LLC to house my interest and management? Or setup one entity for management and a separate one to hold my interest?

I am in the works of creating systematized courses for VAs designed to make the onboarding process easier for when I bring them onto my team. Some of the areas include: general RE knowledge, cold calling, lead generation, acquisition manager, transaction coordinator, etc.

Would anyone be interested in taking a peek at the courses as well? Any feedback/suggestions are always helpful, and I think you could find it beneficial for your operations as well. Thanks!

Weird question, but lets say in a future BRRRR deal I have a PML fund the entirety of the acquisition + rehab. Now that the property is fixed up and appraised for a higher price, I go to a bank to pull my equity out of the deal and repay the PML + interest via a cash-out-refi.

Question: Would the bank allow my PML to co-sign on the refinance if I am using the money to repay them?

If you're wondering why I would try to do such an odd thing, I'm 20 and don't have a nearly attractive financial profile to banks by myself, so I am considering having my parents act as the PML in this situation.

What are the steps and legal forms/documents needed to close a deal without a Realtor? I'm a newbie and am looking for off-market deals rather than on-market. Just want to make sure I fully understand the process and don't mess anything up or screw myself over. Any advice is greatly appreciated, thanks!

Hey everyone,

I'm a junior in university right now and have made it a goal/objective to obtain my first property by the time I graduate. I am currently studying to get my license and signed to be a commercial broker as a way to get experience, network, and obtain some startup capital. 

Aside from that, I'd really love some guidance/suggestions for ways to get financing as a college student with ~$10k total saved. I think PMLs would be unrealistic to convince with no credibility, FHA probably off the table since I don't have historical stable income. Right now I'm thinking are DSCR loans or a Partnership through sweat equity.

I'd love to hear all of your thoughts, thanks!

There is no way anyone is paying $824/month for that...

Hey everyone, 

I'm currently a junior in university right now and have officially made it an objective/goal to obtain my first rental property by the time I graduate. I am currently in the process of obtaining my real estate salesperson license and accepted an offer to be a commercial broker. My biggest problems right now are that I don't have much capital or a track record of stable income to invest or be approved for financing. This is partly why I am taking on the commercial broker position to assist with initial capital along with other qualitative benefits. 

The second thing I'm struggling with is I don't have any track record to get a PML or HML to trust me (in my opinion). I know these might all be dumb excuses but I really am extremely motivated and excited to kickstart my real estate journey this year. I also have a close friend who has a large trust fund, so I am planning on talking with her about potentially partnering, but am contemplating how I would convey my value-add to her considering she would be providing all the capital.

Overall, I am very slowly prepping myself to finally take that leap, I'm just really looking for advice on how I could possibly use the resources mentioned (or other options) to get started ASAP.