All Forum Posts by: Steven Bays

@Paul Higbie

In your experience, in the beginning, is it more advantageous from an llc perspective or individual on lending? I would imagine it is easier with individual and to transition properties into the llc later.

I have been wrestling with the understanding of how these topics are interconnected.

I always thought I needed to put houses in llc but that may trigger a the due on sale clause. Also when I refinance or attempt to get a mortgage, it will all be based on my personal record or can I get one through the company?

My questions specifically are: should i necessarily worry about starting an llc so soon or just have good liability with an umbrella policy? At what point did you all feel you needed to start an llc.

When getting a mortgage, I know the limit is 10, should I just focus on my personal 10 first, with their credit checks, or using a commercial lender through an llc.

Thanks, would love to get these demons out of my head on this.

@Kuba F.

Kuba, very well said and thank you for telling it like it is. You are exactly right and I will start walking some distressed properties and building a portfolio of contacts for rehabbing and managing.

Deep breath, one bite at a time. Thanks for taking time and writing this stuff down for me.

@David Robertson

Thanks for taking the time to post these. Going to use promptly

@Greg Dickerson

I really appreciate the thoughtful response. Could you snapshot an example of your spreadsheet before and after a walkthrough? I’d like to see a live case of it. Thanks again for your insights.

Bump for refresh. Posted late at night

I am really trying to break down the Brrrr process and have a repeatable process to follow and feeling more overwhelmed the more I think about rehabbing.

High level, it feels simple but the more I think about it, I am getting an analysis paralysis on this topic. I am hoping someone can share their process or analysis. Anyone else felt this way starting out?

I am interested in buy and hold so not interested in rehabbing to flip so when I look at a SIngle or multi family what are your all’s systems/processes you go by. What do you feel is most important for greatest return for money put in? Minimums for rental without being a slumlord. I have read a lot and want to get actual feedback from people too.

When do you know you want an inspection ordered in a property you aren’t sure on?? Is it just an educated guess by what you see first?

Do you use a checklist on your own and cross reference with the inspection?

What do you typically look for initially before determining if an inspection is worth ordering?

Is there a spreadsheet I can download that can give me the best idea of rehabbing checklist?

After all of this, you actually begin the rehab which I will ask some more questions but hope some folks can point me towards the light here.

Thanks you all!

Hello all. I am getting ready to jump in, in the near future, and was looking to talk with some folks on different parts of their journey. I would love to start a conversation or get some lunch, but seeking a person to bounce ideas off of and have a soundboard for conversation. Anyone in the area of cinci/nku want to talk real estate as opposed to me just posting here, as much as I love this site. Something about a direct conversation that I get more out of. Thanks!