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All Forum Posts by: Sid S.

Sid S. has started 0 posts and replied 6 times.

Quote from @Chris Seveney:
Quote from @Stephanie Potts:
What would be the NAICS code for a hard money lending business. I have tried using 522292 and I keep getting rejected by banks when I try to set up a business bank account. They say it’s a prohibited business for them.

 never heard that - we use real estate other as our code

Chris, I just watched your video about mortgage note investing last night! Small world. Which banks allowed that code? 

I've had the same experience. Did anyone find a solution?

Did anyone find a solution to this?

Post: "Replace Your Mortgage" HELOC Strategy

Sid S.Posted
  • Portland, OR
  • Posts 6
  • Votes 4

Great thread - thanks to all contributors for your insights! I spoke with a broker at replaceyourmortgage.com. Their first lien HELOC strategy is to move *all* your cash flow through the HELOC account: your rental income and expenses + personal income and expenses + your other businesses' income and expenses.

My accountant may have a heart attack at the prospect :) 

Has anyone run into problems with the IRS or their CPA due to moving blended cash flow through one HELOC?

Post: Sound proofing units

Sid S.Posted
  • Portland, OR
  • Posts 6
  • Votes 4

excellent! where can it be purchased? an online source would be appreciated.

the floors are in the same dwelling. BTW the first floor ceiling is 1924 lath & plaster. the floor above is original hardwoods. hence the preference for blown insulation.

Post: Sound proofing units

Sid S.Posted
  • Portland, OR
  • Posts 6
  • Votes 4

Great thread, thank you. I want to dampen acoustic noise between the first and second floors of an old house. Resonant noise is less of a concern. Due to easy access via open floor joists, I prefer blown insulation. 

Which blow-in product do you recommend? I read that blown cellulose creates thermal problems without dampening noise much. Blown rock wool sounds promising but seems to be discontinued. Polyurethane foam might off-gas toxins. Please help! 

Thanks in advance :)