All Forum Posts by: Mehran K.

Like @Joel Owens gave an example for: leverage is where it's at for wealth building. You just need to learn the fundamentals so you can minimize risk at the same time.

I would take a 30 year loan over a 15 year loan any day, especially with the rates being so low. Lower payments = more cash flow at the present time. Also, in the later life of the 30 year loan, you'll be paying down the "fixed" payments (that never change) with inflated dollars that are worth less than they are now. $500 dollars 25 years from now could very well equal $200 or less in current dollars. Someone coined a name for this concept, I just can't remember it :)

Not my spouse, but I took my girlfriend to a BP meetup at a luxury flip that @Will Barnard was hosting. Just observing and listening to the engaging discussions we all had was eye opening for her. I wouldn't say she's gung ho about investing, but she understands why I am now :)

Welcome to BiggerPockets @Sherlie Serrano , thanks so much for introducing yourself to the community! Grats on having the courage to make that leap, that is awesome! I'm hoping to do the same sometime in the next few years. 

If you haven't already, be sure to check out the BiggerPockets Podcasts. I'm sure you can glean a lot of great information about how other people are operating their businesses!

See you around the site!

You might try the Find Members feature to connect with those nearby you! You can also setup Keyword Alerts for terms such as "Licking County" and "Ohio".

Welcome to BiggerPockets @Rawle Stanley , thanks so much for introducing yourself to the community! You'll definitely find enough education here to keep you busy for longer than 3 months, trust me :) Great move buying the book, I also suggest checking out the BiggerPockets Podcasts, if you haven't already. There are tons of episodes on wholesaling!

See you around the site!

Welcome to BiggerPockets @Trent T. , thanks so much for introducing yourself to the community! Grats on your first ever forum post as well :)

Since you own the house outright, you can tap the equity via a mortgage or a line of credit. Many conventional lenders don't like to operate in the sub-$50k space, but some will. If you go with a conventional mortgage, or a line of credit on the home, you'll have problems if the title of the property is already in an LLC. You could pull the equity via one of those methods and transfer the property to the LLC afterwards. Be sure to do research on the Due-On-Sale clause if you're going to do this.

Also, you could transfer the property to the LLC first, and attempt to find a portfolio/commercial loan from a local bank. They typically lend to LLC's, but the terms are a lot different than a conventional 30 year mortgage.

If it were me, I'd keep it in my personal name an dtap the equity via a Line of Credit or mortgage.

See you around the site!

Welcome to BiggerPockets @Chris R.  , thanks so much for introducing yourself to the community! I'm down here in the SF Valley, not "too" far! Hope you find what you're looking for here on the site. Good luck with your research! My advice is to be very active on the forums. I believe it's the best way to absorb and grow. 

See you around!

Tim, I don't think you'll achieve anonymity just by creating an LLC. It will be easy to get your information with a quick search. It does provide other benefits though.

Although I'm not expert, I did dig this up and think you don't have much to worry about as far as having an LLC to hold title in.

" Trademark infringement is judged on a standard that is called “likelihood of confusion.” There are many different factors to determine whether one mark infringes the other, but for ease of discussion it can be boiled down to:whether a reasonable person, upon seeing both marks, would conclude that the products or services came from the same individual or company, or that the products or services were somehow affiliated with each other. Therefore, the marks need not be exactly the same and they need not be used on the exact same products or services to crea te a likelihood of confusion."

What date did you serve the 5 day pay or quit? Did you use certified mail? 

Did you end up accepting the rent for February after the 5 day pay or quit?

If she has documentation that you gave her until the 25th, you might need another 5 day pay or quit since she didn't pay you on the 25th. This may be because you changed the terms after she received the first 5 day notice. 

Did you issue another 5 day, if so, what date?

I'm sure you've read this, but who knows!:

Milwaukee County Sherriff's "Steps For The Eviction Process"

Apparently you need 5 copies of the listed documents.

Doubt that they will. Where is the asbestos?