All Forum Posts by: Sherry Patterson

@Sean McGrady Hi Sean! I am so impressed with you already! The fact that you are in college and already considering investing is awesome! I have helped so many new investors and several right out of college. Please don't be discouraged by these posts. Yes the market is hot but I get deals accepted daily with all kinds of loans.  I do only investment real estate and sometimes we have to get creative. I agree that you should reach out to @Andrew Postell to get a pre-approval. However, if you need to get competitive I have a few other ideas to get it under contract and then Andrew is there to refi us out. Obviously where you get a job may determine where you want to live. However, in this market with everyone working from home it may not matter. Personally I am more of a fan of Tarrant Count and anything west. You are going to get a much better deal than in Dallas. People outside of DFW think it is one big city, and it is, but very different. Fort Worth people, neighborhoods and pricing are very different. If you are set on the Dallas area you need focus on the outskirts that will be more affordable. There really is not a bad rental area once you are ready to rent. However, I highly suggest short term rentals, that is where the money is! I run a local REI call IMPACT we meet in Grapevine between Dallas and Fort Worth the 4th Monday of every month. We would love for you to come. It is free networking, dinner & education and would be a great place to start getting involved in the DFW investment market. Happy investing!

Hello,

It depends on your strategy. If you are looking to purchase with private money or hard money they may require it to be in an LLC. However, when you get ready to re-fi may be a problem because many lenders will not lend to an LLC. Of course there are some that will and you will need to search those out. But if you are looking to purchase or re-fi with a traditional fannie may/freddie mac loan it is more difficult to find a lender to purchase in a company name. If you are using a commercial lender or buying multifamily then you for sure want it in a LLC. But I work with a lot of new investors and we have found for them, without experience, it is more difficult to buy a property, "get a mortgage", in an LLC name. However, you can purchase the property in your personal name and then deed it to your LLC. I would seek out some lenders and get pre-qualified for what you are looking to do and get advise from them. However, anytime you are running a business you will want it to be in an LLC. Eventually as you grow you will then want more protection and move to an S Corp, trust, or other options. At that point you will want to speak to an asset protection specialist. Happy investing!

Here are a few:

1. But a vehicle that is 6000 lbs or more and write off 100%.

2. If your company is an LLC consider changing to a S corp. Big difference in taxes.

3. Pay your kids. At any age you can pay your kids $12,000 a year that is tax free. 

4. You can "rent" out your house or office up to 14 times a year to yourself. You would invoice yourself and your business pays you the equivalent to what you would pay an event space. You get the money and it is 100% tax deductible. 

5. If you are a contractor you can increase your research and development expenditure. When you improve processes there is a 50% credit.  A CREDIT IS BETTER THAN A DEDUCTION. 

6. Look for CREDITS you can get. A credit is better than an deduction on your taxes.

7. You can give up to $15k. You can even give this to a family member and put it into their life insurance plan that can be used for investments. 

8. Make a Family Limited Partnership - estate plan 

Happy soon to be tax season!

Details

Subject 2 with the expert Roger Paschal!

FUN, FOOD, FRIENDS & FREE EDUCATION!

Don't forget! It's happening, Tuesday October, 25th!

Join us for an action packed, information filled evening with Roger D. Paschal on investing with No Credit and No Money Down.

Roger D. Paschal Author of the book, "Subject 2 buying with no credit or money down" will be in Tyler sharing his secrets of how he has acquired dozens of properties using this technique.

Roger has picked up houses for as little as a $25 gift card to the seller.

What is Subject 2?

Subject 2 is acquiring real property using the existing mortgage in place, in which the buyer takes the title or a deed to a mortgaged piece of property, but does not have their name on the mortgage.

This strategy is one of the most sought after techniques used by real estate investors and Roger goes into detail on how to do this the right way. With the techniques in this book, you can help people when they can no longer afford their property or do not have enough equity to list and sell with a real estate company.

At the same time, you can build your wealth and legacy.

Learn How...
You can open up a new world in your real estate investing career. Ultimately, you can afford to acquire a property with less equity because there is no down payment and the closing costs are much lower.

This technique can be very rewarding because with the right information, you can market yourself, learn the "why" of the seller and maintain the right relationship with mortgage and insurance companies.

Without the correct strategies, it can be very difficult to deal with all the parties involved.

How not to lose money because of lack of knowledge.

Strategies to build your portfolio in record time!

How to find properties

Why would someone be motivated to walk away from their equity?

www.Subject2Book.com

Always great networking with speakers and sponsors with real education to help you build your business.
The meetings are interactive and all your questions are welcome. We are very casual, this is a social networking group and no one will be there trying to sell you anything. We have a lot of fun and learn a lot. Everyone is welcome but please RSVP so we can plan accordingly. If your plans change please change your RSVP so we know how many to seat and plan food for.

SEE YOU MONDAY AT MAIN EVENT!

Hi! I am so impressed with you and your post.  I wish I had been that smart and eager at 22! For that matter I wish my son was. He is about to be 22 also finishing up college. You are doing awesome! That is the best thing you can do is network. If you build a good network of investors many will let you partner on deals to give you experience. If you can bring money to the table (not your money) then syndicators are interested.  I am willing to partner with you to help you learn and give credibility but you have to be able to raise funds. It sounds like that would not be a problem for you.  If you would like to talk or if I can help you in any way please reach out.  Good luck!

We would love to have you! We meet the 4th Monday of every month at Main Event Grapevine at 7pm. https://www.meetup.com/DFW-REI... IMPACT Grapevine and Denton. FREE networking, education and dinner! Come see us!

THIS EVENT IS 7PM - 9PM NOT SURE WHY IT CHANGED WHEN POSTED!

Notes...The path less traveled!
Ryan Cooper with Note Resources is going to teach us about note investing, how you can get started, becoming an active or passive investor and why it’s preferred over traditional methods of real estate investing.

FUN, FOOD, FRIENDS & FREE EDUCATION!
Always great networking with speakers and sponsors with real education to help you build your business.
The meetings are interactive and all your questions are welcome. We are very casual, this is a social networking group and no one will be there trying to sell you anything. We have a lot of fun and learn a lot. Everyone is welcome but please RSVP so we can plan accordingly. If your plans change please change your RSVP so we know how many to seat and plan food for.
Thank you sponsors!
Texas Secure Title
Guaranteed Rate
Longhorn Investments
HC Roofing
Real Estate IQ

SEE YOU MONDAY AT MAIN EVENT!

Want to make a ton of money? Invest in SHORT TERM RENTALS!
Come here Don Crosby teach us all about them.
(cross marketed on multiple sites for RSVP's)

FUN, FOOD, FRIENDS & FREE EDUCATION!
Always great networking with speakers and sponsors with real education to help you build your business.
The meetings are interactive and all your questions are welcome. We are very casual, this is a social networking group and no one will be there trying to sell you anything. We have a lot of fun and learn a lot. Everyone is welcome but please RSVP so we can plan accordingly. If your plans change please change your RSVP so we know how many to seat and plan food for.

SEE YOU MONDAY AT MAIN EVENT!

Sponsored by:
Andrew Postell Guaranteed Rate
Inika Vance Texas Secure Title
Ryan Blake Longhorn Investments
Thomas Cagle HC Roofing Solutions

Want to make a ton of money? Invest in SHORT TERM RENTALS!
Come here Don Crosby teach us all about them.

FUN, FOOD, FRIENDS & FREE EDUCATION!
Always great networking with speakers and sponsors with real education to help you build your business.
The meetings are interactive and all your questions are welcome. We are very casual, this is a social networking group and no one will be there trying to sell you anything. We have a lot of fun and learn a lot. Everyone is welcome but please RSVP so we can plan accordingly. If your plans change please change your RSVP so we know how many to seat and plan food for.

SEE YOU MONDAY AT MAIN EVENT!

Look out 2021 WE ARE BACK LIVE!
This event is cross advertised so we have a good group coming!
New location at Main Event Grapevine.
Don't miss our first event live! We are ready to network, learn, and help each other build our businesses.
Don't miss Andrew Postell...The Lender, The Investor, THE LEGEND!
2021 Post COVID Market Outlook. Bring your questions!
What has changed? How has lending changed? How to find the deals? How inflations affects real estate? Where is my money?

FUN, FOOD, FRIENDS & FREE EDUCATION!
The meetings are interactive and all your questions are welcome. We are very casual, this is a social networking group and no one will be there trying to sell you anything. We have a lot of fun and learn a lot. Everyone is welcome but please RSVP so we can plan accordingly. If your plans change please change your RSVP so we know how many to seat and plan food for.

You can also RSVP on Meetup IMPACT REI Grapevine, Denton, Arlington
SEE YOU MONDAY AT MAIN EVENT!