All Forum Posts by: Orlando Kell

If you don't own the property yet, you'll need to hire the GC for the estimate. But I'd rather hire specialists to do specific walk through estimates until you get much better estimating on your own. Good luck!

I've zeroed in on a 4-plex with an asking price of $145k. All other things checking out and being ok, if I apply for the loan through a new LLC is that even doable? A buddy has partnered up with me in the LLC and we both have $15k each to put in and we each have excellent credit and professional jobs.

Would this be a conventional loan or a commercial loan?

Use part of the money to pay for a year membership with your local REIA. Unless your local library is stacked id also use some of that money to buy several REI starter books.

Thanks David!!!! Really appreciate your time and input

Agree with Tom on this one - defeats the value and purpose of life insurance and could be devastating to your beneficiaries

Might look into a hard money loan from a private lender for the difference or maybe a HELOC?

Hello BP friends!! I'm a newbie in REI and I look forward to learning immensely from this site. I'm very interested in making my first deal in a buy and hold rental. I have about $15k in an Ameritrade account, I have about $20k in equity in my law office building, and I have about $10k equity in my residence. Any tips or advice? The foreclosure auctions seem like the best place to start for me but I'm clueless!!!