All Forum Posts by: Naz Hossain

Hey Patrick, welcome to BP! Which part of the country are you located again? 28K per year on interest on a cash out refi sounds high. Of course, I do not know how much you would actually be pulling out

There are a few good options you listed out already. Hard money is definitely one way to go about this if the seller wants the cash quick and you have the ability to pay for HM fees, etc. 

The other thing you can possibly do is, if you have equity in your home, which it seems like you do because of the cash out refi, is pull a HELOC. Have the money ready to go at moments notice but you do not have to pay interest if you don't use it. Many over look this strategy but it can come in very handy, especially in this situation.

There are many other things to consider when doing a HELOC vs cash out refi as you will not be getting a fat check deposited into your account tax free.

Hope this helps! Good luck!

@Ryan Britt I’m in San Antonio market. Very over looked and LOTS of room for growth here. Let me know if you’d like to chat

Got it. I was wondering if I would need to spell out what the plans have in drawings. For example, amount of asphalt on driveways in term of thickness etc. But I get your drift. Will look to build something along those lines

@Aidan Mollahan seems to be more of a legal question. But did you have anything in writing/inspection report from the contractor who inspected it or what it just verbal?

Hi BP community! I am looking for guidance on how I should go about creating a SOW for a new construction project. I have all the plans, from foundation to roofing. Are the plans good enough to outline the scope of work or do I need to create a written document outlining it? I have created SOWs for remodels but not new construction. Are they quite similar or are there major differences I need to be aware of? Are there things in new construction SOW that I MUST include? 

Thank you in advance

Do a quick search on HML in the area. Send emails/calls to all of them. Carry on the conversation with whoever responds to you. The best way to get a feel for them is to actually talk to them. Most HML requirements are very similar so once you get a hang of the requirements all you have to decide on are the fees and terms.

Hope every had a great Thanksgiving. I had a quick question for you. I am wanting to move my primary residence to a living trust and use my personal LLC as the trustee. I rent out part of my house and run my business out of my house. I want to be able to maximize my tax benefits on that. My question is, should my LLC have its own business account as well as my trust. Or can I conduct everything with one account either with my LLC or trust. Thank you!

Seems like it is. I look at the driving factors behind the appreciation - population growth, job growth, market sector, city developments and median wages. New braunfels gets a little tricky as there are a lot of residents who, pre covid, used to commute to San Antonio to work. Not sure how/what the situation there is now. TAMU puts out Texas triangle analysis every quarter with important metrics which will be good for you to look at as well. Hope this helps a little  

Hi BP community. I am wanting to form a holding company. I am currently in Texas my LLCs are local to texas. Should I form a holding company in Texas or states like Delaware and Wyoming? Is anonymity over rated? Looking for some advise

Whatever thickness you get, try to get it with padding so you dont have that extra cost in material and labor