All Forum Posts by: Kunal Mishra

@Shelby LeBlanc

You are in the renovation phase.

If yes, then try using a Homedepot credit card for the purchase if materials.

If there is an option of HELOC on any of your properties use that

Or refinance any of them.

Or partner with a contractor where he gets 1.5 to 2 times the labor cost after you sell it.

Now I don't know how much that hurts you in your profit so ignore the last option right away if it doesn't make any sense.

But you can pay for labor using some CC.

@Ignacio Linares

Vacancy , CapEx and PM do 25%

PM BTW will not be 9%, it will be around 10 to 11% but I think 25% is good.

Still I don't see enough cash flow.

Glad to come across this topic.

I am looking for long term buy and hold and mainly for cash flow today.

If appreciation catches up in the next ten years then good.

Any cities or towns that are expected to gentrify in Florida in the coming years would be nice.

@David Krulac

Will solo 401k be subject to the UBIT taxes. If it is then it will completely defeat the purpose of being tax free.

Let's say I flip only one property per year will the profits be subject to UBIT?

Also can we look for conventional financing to purchase a rental from the solo 401k?

Kunal M.

@James Somers

You already said it in your post.

Don't leave money on the table, contribute to the point where your employer matches their portion.

Start using remaining portion in real estate, look at the guaranteed returns by using that money let's say for a long term buy and hold , can you make above 12% then you should be good.

Also you can open an LLC and use solo 401K to sheeter more taxable income. Bit it can't be used for passive income. Not an expert on that topic yet.

Kunal M.

@Angela Logomasini Did you get started in Gastonia. Any experience or learning curve that you could share would be helpful.

@Daljit S. try out www.steve-rich.com  Steve Rich environment. They have a program to give you insurance coverage up to $20K on their soil testing . Hence they beat the 'crap' out when they conduct soil testing. 

Now there will be other investors who will suggest that costs can go up to $50k-$75K with the soil contamination but this is something better than nothing. 

I had a good experience with them early this year hence I am referring them to you. 

Good Luck!

@Jim Kittridge

What are some good locations to get started in Gastonia for BRRRR

@Harvey Roberts

Contact the following lenders

1. @Jerry Padilla from prime lending in NY

2. Shawn Huss from TCF bank in Ohio

@Anthony Simmons

Did you find anything in Winston-Salem?