All Forum Posts by: Kamil Baldyga

Hey Charlie! I bought a few properties with a few other partners. I think it's a great way to start investing as it reduces the amount of risk each partner carries. If I could go back in time I would definitely get a book keeper involved ASAP (assuming this will be done through an LLC). Definitely outline each person's roles and responsibilities from the beginning.

Hope this helps!

Hey Scott! As far as the tax advantages, definitely reach out to an accountant in your state. Generally, if both of you are on the LLC, you get to split the tax write offs as opposed to just one individual. But again, consult a tax professional. In regards to amount of properties you can buy, LLCs have no limit to how many properties can be purchased in that entity. However, lending tends to have higher rates for LLCs.

Hope this helps!

Hey Michael! I have several STR near the Ft. Bragg areas, they crush it out here. Being near a military base means there are constant graduations, promotions, schools, etc that bring in servicemembers and their families. There are numerous factors that affect occupancy rates, here the biggest drawback is oversaturation of STRs in this market. So you need to ensure you're competitive with your rentals. Hope this helps!

Hey Greg! I would check out a property manager to find and vet the tenants for you. If you want to self manage, advertising your property on local facebook groups and craigslist is a great starting point. Hope this helps!

Hey Cassandra! I recommend definitely recommend checking out investor and wholesaler Facebook groups for your area. Also see if there are any investor meet ups happening in your area and pretty much ask anyone and everyone. Meet ups are a great way to make connections! Hope this helps!

Hey Jose! So I highly recommend digging into the process of a BRRRR and what it means. There is tons of content on YouTube about it. But essentially its just a fancy way of say improving a run down property and doing a cash out refinance on the new value of the property. I know you're saying you are getting a good deal on the property, but I would run the numbers on it to make sure it makes sense as an investment. Hope this helps!

Hey Justin! Househacking is fairly simple there's no need to over complicate it too much. Youre simply getting a property to live in and living with roommates that pay you rent. First you obviously a property so getting in touch with an agent and getting prequalified is a good first step. Once youre shopping around make sure that you keep the end in mind and know what you're going to do with the property when/if you ever move out. Are you going to sell it or keep it as a rental? If its going to be a rental you need to make sure the numbers make sense for it. Once you have a property just be sure you're screening your roommates. Don't want a roommate with a hobby of cooking meth in the living room. Roommate agreements never hurt to keep everyone on the same page. Hope this helps, let me know if you have any questions!

Hey Jett! The best advice for getting private money is having the ability to explain the investment and how it works to your potential private lenders. It also really helps if you have some of your own skin in the game as well. After that its just a numbers game, ask anyone who already knows you, loves you, and trusts you. I hope this helps, let me know if you have any questions!

Hey Jon! I started immediately. Its much easier to keep track of all of the accounts and book keeping from the beginning while slowly building your portfolio than to move a large portfolio and have all the expenses come from the LLC. More importantly I'm just better protected even if it just one or to properties. Hope this helps!

Hey Misti! First off this isn't a dumb question at all! You would be surprised how many people are confused on the process yet they never ask the question. So the correct order of events is...

1. Get preapproved (Banks and Lenders can help you with this. Does not need to be local)

2. Contact an agent (You could do this first as agents often have banks and lenders they recommend and do their job well)

3. Start viewing properties and submitting offers

4. Go under contract

5. Negotiations

6. Close on the property

Honestly the first step would be to get in contact with an agent. We as agents are used to coaching buyers through the whole process and strive to make it as easy as possible. Hope this helps, feel free to reach out with any other questions!