Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Followed Discussions Followed Categories Followed People Followed Locations
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Account Closed

Account Closed has started 11 posts and replied 220 times.

Post: Mastermind Group for Flippers

Account ClosedPosted
  • Investor
  • LOUISVILLE, Ky
  • Posts 299
  • Votes 137

Following as well. 

 We've done 5 this year so far and feel like we're making everything up as we go.

Post: PACKAGE SALE OF 9 RENTALS!

Account ClosedPosted
  • Investor
  • LOUISVILLE, Ky
  • Posts 299
  • Votes 137

I am interested in this if it is still available.

Post: 12 UNIT APT BUILDING

Account ClosedPosted
  • Investor
  • LOUISVILLE, Ky
  • Posts 299
  • Votes 137

@Warren Romig

Interested.

Please send details.

Post: MASTERMIND GROUPS

Account ClosedPosted
  • Investor
  • LOUISVILLE, Ky
  • Posts 299
  • Votes 137

Still with the same group.

We lost one member, who wasn't really focusing like she should've.

We've been together for a year, and we're all starting to see ENORMOUS success; way more than had we tackled it on our own.

We use Zoom.  $10/month.

The time commitment is not huge if your a participant.  I imagine the commitment is greater if you're hosting.

Having said that, I come prepared to the meeting with things I've accomplished during the week, and ready to discuss the  following week.  The time to do this is somewhat minimal.

If you're running out of time during the week, stop the TV altogether.  Believe me when I tell you, you're not getting any value from it, outside of entertainment.

Time is what we all share equally.  Be objective about where you.spend your time.

Post: Jeffersonville IN

Account ClosedPosted
  • Investor
  • LOUISVILLE, Ky
  • Posts 299
  • Votes 137

I invest in both Jeffersonville and New Albany.

Post: Anyone have experience using 401k to fund their LLC?

Account ClosedPosted
  • Investor
  • LOUISVILLE, Ky
  • Posts 299
  • Votes 137

Yes.

I took a loan out at 3.5%, made the loan to my LLC, and paid it back after I flipped the house I bought and rehabbed.

Easy-peasy.

Post: First time buyer/wannabe investor

Account ClosedPosted
  • Investor
  • LOUISVILLE, Ky
  • Posts 299
  • Votes 137

47130, 47111 and 47129 is good as well

Post: Financing a deal as an LLC

Account ClosedPosted
  • Investor
  • LOUISVILLE, Ky
  • Posts 299
  • Votes 137
Originally posted by @Nuhan Demirkan:

You can put the LLC on the mortgage along with a personal guarantee. The banks aren't going to lend to an LLC let alone a young one. You may be able to get some headway if you collateralize the loan by using your other properties. Besides the protection of an LLC is mostly from your tenants and other outside people. Having the loan in both names (LLC and personal) and the property deeded to an LLC should give you the protection you need.

I am currently transferring my personal portfolio to an LLC. I figure if the loan is current and performing as agreed the banks should not call it. If they do, I will take out commercial loans thru a portfolio lender and pay of the existing mortgages.

Good luck!

 This is exactly how I did it, for all of my investment properties, including my flips.

Have a discussion with your lender.

Indicate that you want to put the property into an LLC. Tell him or her why.

Indicate that you will open the mortgage in your name, and still be personally responsible.

The lender I use is a "smaller" lender (hometown-ish).  FYI.

Post: New Member in Louisville

Account ClosedPosted
  • Investor
  • LOUISVILLE, Ky
  • Posts 299
  • Votes 137

@Tess Sansbury

This week (on Saturday, October 15), I am hosting a networking event geared towards real estate investors (new and veterans alike).

I host it every month.

https://www.biggerpockets.com/forums/521/topics/36...

Next Thursday (the 20th), KREIA is hosting a free event in St. Matthews (@Jay Leisten mentioned above).    It is regarding "Crowdfunding, Partnering, & Private Financing RE Investments".  (It is a very good event to go to simply from a networking standpoint).

KREIA also has a sub-chapter for Indiana that hosts a networking meeting on the 2nd Wednesday of every month (that is tomorrow, Wednesday October 12) (as of this writing)).  This networking event is always held at Tuckers restaurant on State Street in New Albany, IN (about five minutes across the river).

(No link for this one.  They usually put up the link (and send out text and email alerts) the day prior (today, actually).

Feel free to reach out directly if you have any specific questions.  You can reach me here or via any of my contact info.  I have a massive amount of recommendations for educational resources (depending on what your goals are).

Post: Has anybody here ever borrowed money from Phil P. Ackers?

Account ClosedPosted
  • Investor
  • LOUISVILLE, Ky
  • Posts 299
  • Votes 137

I think he's a potential scammer.  

He is NOT forthcoming with information (specifically references so I can vet him).

He doesn't answer my questions; just throws out information on his lending practices (probably a copy and paste job).

I appreciate the response.  I won't be using him.   There are a  lot of other lenders out there.

1 2 3 4 5 6 7