All Forum Posts by: Ryan Blackstone

@Jason Nazarenko I sent you a message with our CPA people. They are here in NWA, so it would be remote. 

Arkansas is pretty conservitive. So, my has a say to anything I buy or sell in my personal name. So, your spouse would still have some claim to the property regardless if their name isn't on the mortgage. So again, there are two main documents. 1. The deed. (Who own's the property). 2. The mortgage (who is responsible for the bill). those two don't have to match. You can be on the mortgage, and you and your spouse on the deed. 

I would take the word "ethical" out of the conversation. The conversation has to be what the courts would think, and if they see you wrap up a contract, and you didn't do your due dillegence to get financing or work the deal to purchase it, then they would say that would be illegal becasue, you wrapped up a property with the intent to, not buy the deal but, find an end buyer. If you seriously can't buy it because you tried to get financing and got denied or you found out something about the property that made it not a good deal, then it should be ok to back out of the deal if your contract says you can do that. 

In Arkansas it is pretty illegal if you wholesale. However, no one is going to get mad at you as long as you commit to actually doing what you say your going to do. If you are going to buy the property, then buy the property. You should be able to still sell it if you bought it right, or even wholetail it if you need. 

@Megan Dettenmaier I will email you my list.

@Greg Aloisi once the limits are openned for meeting up, our BP meetup will continue at a local resterant. NWA REI is one of the meetups that are still meeting via zoom. @Kathleen Everitt is the person you want to talk to. She leads it up.

@Jonathan Beaumont Just messaged you our CPA's.

@Devin Bowers Welcome! Man, the biggest advice is embrass uncertainty, and get after it! You lose every time you don't take one action step forward. Let me know if you have any questions.

@Jeremy Warren I agree with Leigh Jones. Even though every fiber of my bone wants to say pay it off.... it would be the worst decision to pay off your 10k of stundent loan debt. Just get your house-hack

Leveraging your equity to buy more deals will get more profit in the long run. However, it depends on your purpose for buying and your risk level. Buying more increases more risk, but also increases your networth. I would ask the questions: Do I want more wealth creation opputunites, or do I want more security from passiving income through these investments? Another option would be to take out a business line of credit or heloc on your properties.