All Forum Posts by: Mateusz Prawdzik

@John Knisely Yes that is true. Having too many colors is also not good.

@John Knisely As much as I see where you are coming from, gray is a very nice color and fits EVERYTHING but it has to LIGHT gray something like Benjamin More Owl Gray or Bunny Gray. That's the colors I use and they are great. 

@Jose Arismendi I actually have a property that I am listing in North Bergen that I just finished renovating, where is the property you're trying to purchase located?

@Jose Arismendi Tax Records online, Zilllow has it under "Price/Tax" section at the bottom. You can go to the town look at the tax records. 

@Sunny Burns Hey, Sunny did you ever reach out to salvatore? Also, great story, I will be doing eventually when I get a little older for sure. Right now, it's just the flipping game for me. Have you ever thought about using the HELOC for funding a flip? Lots of private investors that back me do it and they haven't been anything but happy. I know you're a buy and hold but flipping is a good way to get a good return and use the money for a bigger DP on a more expensive property.

@John Hickey Please keep me in mind with commercial units and/or MFs because I am looking to start holding. I 100% understand where you are coming from when it comes to the taxes, being 19, no dependents, no mortgage, being single.... and only focusing on the business, it IS NOT FUN. TRUST ME. I feel like I'm in the business of paying more than I get to make. Please keep me in mind when you have properties that you don't want or would even like to partner, I have lots of connections and maybe we can do some business eventually. Let's connect and take it from there, I would love to do something some time. 

@Christian Beebe Are you willing to partner at all? What kind of lending terms are you looking for? Lets connect, maybe we can do some business.

@Jamie Brayton Okay with bank money that is conventional, you can't borrow money to pay for down payment. With hard money, you can do so ONLY IF the investor that is providing the "gap funding" is not taking 2nd lien position. Gap funders are a very common thing in REI, EVERYONE looks for them, and by EVERYONE I mean EVERYONE. What you can do is offer them a promissory note that states, they will get their money back one way or another even if you have to sell your personal assets to pay them back. Now with bank money, the bank needs to see proof that you have the money PERSONALLY not someone else has it and will lend it to you. If this deal is sweet, maybe we can work something out. I have lots of good connections, and maybe you'll be an addition to those connections. Let's talk, I hope what I said clarifies some things.

@Dave Foster Thanks A lot that brings lots of clarity. Okay, so as a flipper, I need to have a list of properties within 45 days of close that are potential purchases. And then 185 days to close on one of those properties, now with this being said. IF there is a list, can I use a 1031 exchange on multiple properties or does it only have to be one? Also, how does the account "file" this list? Is there like another special form that he sends out or something that states "this are the next potential leads Mateusz Prawdzik might be closing on using a 1031 exchange?" When it comes to taxes, I am just quite lost even though I am learning every day more and more. Being single, 18 years old, no dependents, no mortgage, only running a business, and making quite a bit a dough, you can see where I am coming from with this deferring stuff. hahaha 

@Phineas Howie One word, Terrible. Just don't. I can't say anything else than, get access to MLS somehow.