All Forum Posts by: Naoko Potts

Justin Shore, EA
Real Tax Consulting LLC

He himself invest in real estate and actually specialized in real estate accounting. He is pretty knowledgeable! 

@Angel Gabriel Ramirez

I am a new investor and my LLC is newly formed, and I am in the process of purchasing the single home resident under LLC. I talked to multiple local banks and they offer business loans to LLCs. I provided my personal financial statement and proof of employment as well as my past 2 years of personal tax returns since I would be personally responsible for the loan payment but the bottom line is it is doable and majority of my local REIA group members finance their loans under their LLCs.

I just wanted to say that as a big time book lover, this is so far one of my favorite discussion topics!

All great suggestions and appreciated. I have one roofer come and did the estimate to submit to the seller. Because of the weight of 4 layers, the decking is probably need to be replaced as well. 

No, I am not going to remove the shingles but hire someone to do it. Thank you for your suggestions. and ideas. 

I am in the process of purchasing the single family home and the inspector noticed the roof was nearing the end of its life. 

We are considering the option of removing the 4 layers of shingles ourselves (though I am not very thrilled about this idea) but does anyone has some rough idea how much it might cost to have professionals remove that many of layers of shingles? Per SF or 1000SF house?

The property is located in Springfield, Missouri. 

Thank you!

@Zach Riggs I am also an investor from Springfield area. I am new and in the process of the purchasing the first rental property. One of the local REIA members suggested me of Legacy bank and trust and I decided to do the loan through them. I am glad to hear someone speak highly of them!

@Brian Simmons That would be GREAT. I will reach out to you when I need a contractor help! 

Thank you very much

@Mark Blanchfield 

Hey Mark, it IS really a small world, isn't it? I knew you have a great skill set and I wish I were as skilled as you were. The house I found is for buy and hold. It can use some TLC but our challenge would be not to go too extreme on upgrade everything. It is a fine balance between make the house a clean comfortable place vs turn into perfect house. 

The deal is not closed yet so I should not get too excited about it but I hope I did everything I need to make this purchase process successful. But boy, the first one is really scary. My main strategy is to buy and hold but I would like to learn more about other opportunities as well. 

Thanks for reaching out. I have a feeling I am talking more with you in near future. 

Best, 

@Martin Tyler

Wow, 13 properties! Impressive. I bet I can learn so much from you.

Thanks!

@Martin Tyler. sure I am. I live in Bolivar!

@Dmitriy Fomichenko Thank you. I am excited I am now the part of this great community.