All Forum Posts by: Max Rieves

@Craig Yarnell thank you!

@Justin R. Thank you for your input! I also ran my own comps as well as had a number in my head but used her as confirmation. I have a LLC because I felt it was best at the time - I own 2 rentals at the moment (but maybe it wasn't best). I will reach out to him, thank you sir!

@Stephanie P. Thank you!!

Hello, I purchased a rental last December in 30080 in GA - I had my RE agent run comps and she said it is roughly worth 30-40k more than when I bought it. I own the home free and clear and want to refi and pull cash out for new deals. I have called some local lenders as well as put in online applications but have quickly realized that since my LLC owns the home and it is not owned by my personally that it will be a bit more difficult. I wanted to see if anyone had recently done a commercial/corporate refi and had any recommendations? It would be greatly appreciate if anyone could recommend lenders that would work with me? I was told by the first lender that I spoke with that I should be working with lenders who lend to "Corporate RE". Thanks!!

@Chris London thanks Chris! I already have the home services for termites and there is a vapor barrier down. What is a 80% vapor barrier? The 2nd quote I got was for a new and thicker vapor barrier Bc the exhaust fan was going to deteriorate the older/thinner barrier that I currently have.

Hello All, I purchased a rental 2 months ago and the inspector noted that I needed to improve the ventilation in the crawl space. He noted there were slight indications of mold growth. I have now received 2 quotes from different people to fix the issue. One person (aqua guard) suggested closing it off completely and the cost to do this is over 7 grand. The second person proposed closing off several openings and putting a fan in one end of the crawlspace to pull moisture out. This quote included a new vapor barrier and came out to just under 5 grand. I am located in Georgia so we have cold winters and very warm/humid summers. Does anyone have guidance on cheaper solutions?

@David M. Thanks for the response! Here is how it goes: 1. Investor wires my LLC bank account money. 2. I use that to buy homes to rent. 3 I get it rented and refi in a few months. 4. When we refi I pay back 80% of the cash we used to buy the home and leave 20% In the deal. I then will pay a % of profits to the investor at the end of each quarter. Aiming to get a 7-10% return on the cash left In the deal after refi.

Real life example:

bought home for 190k

Got rented for 1695

Working to refi now and it will appraise around 200-210k

Pay investor roughly $160k back, leaving 30k in deal

This deal will cash flow around $500/month

Leaving money for me and the investor to both be happy with.

The question is what's the best way to structure this? I currently have a single member LLC

@Lance Lvovsky thanks for the reply. I am going to DM you

Hi All, I have a question about the best way to follow the rules when partnering with investors and paying them a % of profits. My plan is to partner with investors, buy homes, get them rented and then do quarterly payments of the profit to my investor. What's the best way to structure this since my company that owns the real estate is a single member LLC? Can we just write up a contract that outlines the details of the investor as a profit participant in my single member LLC? Please let me know your thoughts on this.

I have outlined my business plan below.

1. Buy home using investors capital

2. Get home rented

3. Refinance the home and pay investor lump sum of his/her money back

4. Pay % of profit from each quarter to investor

Hi all, just purchased my first rental property here in Atlanta. I am working on finding a good tenant right now and wanted to start exploring refinancing options and strategies. I own the house free and clear and want to pull as much cash out as possible. Any recommendations or advice would be great! Thanks!