All Forum Posts by: Kevin Korntved

The data is pulled from True People Search .com.  

I have been looking to see how to scrub a list of numbers to see if they are on the do not call list.  Are there free sites to do this?  

@Jaysen Medhurst part of the reason why I would say these lenders were semi qualified.  The lenders I talked to were more experienced in first time buyers and not overly motivated to work with me. I am planning to expand my network by going to a financing event in my area, but wanted to hear what options might be out there to discuss with new lenders. 

@Jaysen Medhurst I have talked to a 2-3 semi qualified lenders and they said once you use your first time home buyers credit, which I believe I used on the WHEDA duplex, I could only get a single family after that.  I felt like I have heard of people getting multiple owner occupant loans with low down payments if they stay in them a year and wanted to hear what people had to say.

Hello BP,

I would like to find a low down payment loan program of 5% for a 4 unit owner occupant loan. Does anyone know of a program I would qualify for understanding my following situation? I currently own a duplex which I have a WHEDA owner occupant loan. I think this loan is Wisconsin specific, but might be part of a national program. I have two conventional loans on two Single Family Rentals, and I own a 7 unit as 50% partner in an LLC. Does anyone know a loan program that I could qualify for this on?

Thanks,

Kevin

@Ashish Acharya  @Marcus Auerbach  There are many areas located near hospitals, new developments, and colleges where the zones have been marked rather ineffectively for their intended purpose, but good for possible investors.  I believe that these areas will be the target of large pools of money, since existing investments have already targeted these ares.  I personally am thinking about turning capital gains and deferring and removing by buying property in these areas.  I personally want to put together a larger development on an opportunity that I have currently identified, and I am in the stages of how to best go about that.   

@Scott Schultz It looks like you can self certify making a majority of the work accounting for it properly.  

How does a taxpayer become certified as a Qualified Opportunity Fund?

A. To become a Qualified Opportunity Fund, an eligible taxpayer self certifies. (Thus, no approval or action by the IRS is required.) To self-certify, a taxpayer merely completes a form (which will be released in the summer of 2018) and attaches that form to the taxpayer’s federal income tax return for the taxable year. (The return must be filed timely, taking extensions into account.)

Hi BP,

I have heard Amanda Han talk about the Opportunity Funds, but I don't hear of any investors planning on utilizing them.  After looking at the maps on zones that will qualify, I have noticed in Wisconsin that there are a lot of opportunities for development or investment.  Is the timeline of holding the property for 10 years or the zones deterring people from starting discussions?  Does anyone else out there see the benefit in this?  Here are some links that map out the zones and describe the benefit.

Map

https://eig.org/news/opportunity-zones-map-comes-f...

Summary

https://www.accountingtoday.com/opinion/opportunit...

TIA

@Garrett Davis I believe episode 197 with Chris Heeren is an investor in the Madison, Janesville, Beloit area.  From the episode it sounds like, he is doing very well in those areas and even has properties that meet the 4.0 rule.

Hello Mia, I have been attending the Brew City REI Meetups and found these have been great for networking with other local investors and getting your personal real estate questions answered. I also attended AASEW this past month and felt that it helped be become aware of issues I would encounter when I scale larger. I would like to get more involved of each of the three listed above.

Hi David,  Do you have a title company that you do title searches with before you buy?