All Forum Posts by: Kumar Paj

Hi Omar,

Welcome to BP. I think, you are at the right place at the right time. You will find almost all information here on BP. Spend some time on BP forums, listen to some podcasts, contact like minded people with good experience and meet them in person.... finally TAKE ACTION. It is worth to spend (or lose) $$ on your first deal then spending time and money on so called RE GURU classes...You will learn more on your first deal then you will learn from reading multiple books.....

Good luck and Happy Investing!!

That's a very good point..didn't think about it....Thanks!

Thanks @Jerry Padilla.. so this means, if I want to pull out most of the money using Cash Out Refinance (75% of appraised value), I will have to wait for 6 months...correct?

HI @Jerry Padilla..I recently acquired a property for Cash for $125K in Jan. 2016 and put $20K on rehab. The appraised value is $175K. If I want to Cash Out, would it get 75% of $145K or 75% of $175K??

Thanks!

MUST SEE. Perfect investment opportunity. Beautiful COMPLETELY REMODELED Duplex on an over sized lot. Brand new floor through out. NEW Kitchen with Granite counter top, NEW Bathrooms with Granite counter top, NEW Granite Stairs. MOVE-IN READY. Can close quickly. New owner can rent.. Property is currently rented for $1550/-

Monthly Cash Flow: $400+

CoC ROI: 15%

Cap rate: 8%

Please let me know if you have any que.

I already initiated the process to create Solo 401 and I am very excited to buy an investment property using my Solo 401K.  I am working with Sense Financial @Dmitriy Fomichenko and he is really good. He and his team are very professional, experienced and helpful (so far).  I will post my complete review once I am done with the entire process.    

Good luck and Happy Investing!!!!

@Martin Lawrence  

Welcome to BP...you are the right place and I am sure you will find this helpful.

As an investor and landlord, I would try to stay away from condos and would prefer SFH for flip and/or buy-and-hold. Though I started with condos, I don't invest in condos anymore due to limited upside and HOA related issues.

Are you trying to focus on particular area/neighborhood in Chicago?

Good luck with your new chapter in your life and happy investing!!!

my little $0.02....

I tend to agree with @Terry Gillis overall.  

As a side note, you may want to consider using Series LLC (I am assuming this won't be your first and last investment). This will save you ton of money, time and efforts if you are planning to add more properties in future.

Not sure about Pennsylvania but it is allowed in most of the states so you want to check it out first.

A series LLC is a unique form of LLC in which the articles of formation specifically allow for unlimited segregation of membership interests, assets, and operations into independent series. Each series operates like a separate entity. Each series may enter into contracts, sue or be sued, and hold title to real and personal property.

The most important characteristic of a series LLC is the liability protection that is available to each series. Assets owned by one series are shielded from the risk of liability of other series within the same series LLC.

Thanks!