All Forum Posts by: Yoochul C.

Hello,

Just wanted to introduce myself. I just started this and don't have a profile picture up yet. I'll do that soon. I just wanted to let people know about my background. I have a Chemistry degree from Cal Poly Pomona. I was in the Biotech field for about 10 years before being laid off. During my time off, I helped my brother in law who started a company that does Corporate and LLC formations. We did that for a while until it was getting too difficult to compete with companies like Legal Zoom. I moved to a company called Attorneys Corporation Service Inc. This company does all the formations for Rocket Lawyer. I have extensive experience with Corporate and LLC formations. Although i'm not a lawyer and only hold a Paralegal degree, I can help you navigate the ins and outs of forming your LLC. So please let me know if I can help in any way.

Thanks

Yooch

Hey guys,

New to BP, first post.  Thanks for any insight.

Here is my situation.  I have three properties. 

First: Primary, about 600k, owe about 330.
Second:  Rental, about 550k, fully paid off
Third: Rental, 500k, owe about 270k.

I want to invest in more properties.  I am in the process of getting a heloc on my primary.  about 100k to invest in rental properties in Texas.  I want to buy about two properties with that.  After that, what i'm asking you guys is.  Where should I get more money to invest.  Take the hit on my third property by selling it and using the proceeds to buy more properties in Texas.  Apparently I can't take a heloc off a rental.  I don't know how that is because people seem to do it all the time.

Please help.

Thanks

Yooch