All Forum Posts by: Nathan Reed

Glad you found BP! It's definitely one of the best resources for newbies. Be sure to check out the podcasts. They're packed with great information and inspirational stories!

It's good to have you here! Good luck with your first deal as it's definitely the toughest. Everything gets easier after you have that one under your belt!

Welcome! Good to have you here on BP! So, what were your first deals like and what did you learn?

I wouldn't make a big deal out of it unless she's selling it. That could affect your property. I also think that when you go to get the next rent payment from her mom you should hand the girl back her pipe and enjoy the awkward silence that follows.

I just wanted to ask everyone's opinion on whether a newbie should be opening an entity to do their deals in from day 1 or not. I personally chose to start with an SCorp, but I have seen a lot of great posts about house-hacking (love the name) and purchasing under a DBA for the first few deals and was wondering if anyone has had any issues with getting sued by tenants, having issues transferring the properties out of their own name later down the road, etc. Just curious what some of the more experienced investors' thoughts are.

Thanks Anthony! I'll go check it out.

Hi all,

I became hooked on real estate in late 2014 and so far have 1 SF rental in Beaver County. My wife and I are planning to expand greatly in the next few years. I came to BP after watching a few of their great podcasts and would love to meet some other investors in the area. This seems to be a great community and I'm glad to be a part of it!

I use Mercadante in Conway. They were recommended to me by a few people in our REIA. I've only been using them for a little over a year but they've done a great job so far.

I am also for Brad Dornish. He did a really good job with my last closing and I don't think that I have ever asked him a question that he didn't know the answer to. He's also helped me a lot with reviewing contracts, corporate structure planning, etc. 

I would say that the best thing that you could do is to meet with your bank's loan officer or even branch manager and ask questions. Banks will usually be willing to use a certain percentage of something as collateral depending on what the collateral is. The percentage on residential owner-occupied houses is usually one of the higher percentages. But, you won't know what that is until you talk to them. Remember that banks need you as much as you need them so don't be too nervous when talking to them. Just tell them exactly what your plans are and ask how you can work with them so that you both win.