All Forum Posts by: Mehran K.

I've been cutting back a lot of my coffee intake lately, but I may need to revisit that idea now that I know @Bill Gulley drinks coffee. Maybe I'll absorb more of your wisdom this way? :)

Sounds awesome, especially since they're willing to do HELOCs on the investment properties. 

One important factor to consider as well is how the payment is structured. Is there an interest only payment (more favorable). Some times they'll make your minimum payment 1% of the balance and on $100k, that could mean a $1,000/month payment regardless of the interest rate. 

Good to know up front because that $1k payment will be what shows on your credit report and affect your future DTI.

MLS is the Multiple-Listing Service. It's a local system that all/most of the houses for sale in the area are listed by agents/brokers. All the other sites like zillow, trulia, etc, get their listings from that local MLS.

Anthony, not sure if you've used the search tool on the top right corner? Try searching on Hampton Roads and see if you can connect with any local investors. You can also try setting up some Keyword Alerts with the same aim.

@Dennis Standers On each web page for each podcast there is a link to directly download the MP3. If you go to  any podcast, for example BP Podcast Show 90 , there is a "download" link right under the player. You can transfer the mp3 over to your mp3 player and you're all set.

Very interesting feature, great idea! Now I have to workout so I can look good on camera :)

All we get is one picture? :) If it's too far for Dawn, then it's too far for me as of right now unfortunately. 

The numbers look nice as stated. What's on the scope of work? Status of the major systems?

@John-Paul D. Sweet! Well it's great to welcome you to the forums as well as the BP podcast :)

Welcome to the site @John-Paul D. , you definitely stumbled on to a gold mine :) I hear Chicago is a great market to be in. I live here in Los Angeles and invest near Chicago, in Milwaukee. 

Glad to have you here! Hope to see more of you around the site.

Your LLC would take title to the property. The mortgage/note will be made to your LLC by your Uncles LLC with the property as the security for that note.

The deed/property would be owned by your LLC, but your Uncles LLC will have first position on it, and can forclose on the house and take the deed if you don't pay the mortgage.

That's how it should work in Texas because it's a lien theory state.