All Forum Posts by: Account Closed

@Grant Pope Great Question! to tie into this conversation, 

question on Principle and Interest?

@Basit Siddiqi Great insight! 

I closed on my first property and wanting to see what route to take on either paying more towards principle or interest monthly? How does that affect the buyer? what do you suggest if planning to put property in LLC with own bank account to keep track of income/ expenses?

would you say Depreciation  or Interest deductions benefit you more?

Thanks in Advance to whom ever may response. 

Have a Great weekend Bigger Pockets!!

-Adrian Saucedo

@nickyreader  Awesome insight, Much Appreciated!

i'll be looking into "RUBS" and definitely asking about the landlord plans, see what they have to offer.. Both Seem Great! Thanks again Nicky! Have a Great one!

Hello Bigger Pockets! I finally have closed on a duplex! Hence making me new to the Landlord Game! Boy has it been a ride.. 

Question regarding SWITCHING UTILITIES: 

-Duplex is not sub metered, One meter for home. (Plan to sub ASAP.)

-Seller did state that they split utilities (pay to tenant on one side.) (she’s Awesome!) I did do my screening before approving her thanks to BP.

called Local Power company and they said that it’s currently billed to a tenants name.. Does that mean I have to switch everything over to my name still or shall i WAIT to speak to my tenant and see if it’s okay to keep it in her name?  Would you guys say its best to just keep everything into her name? & I can just pay her as I live on side and rehab? 

Thanks Guys!

@Thomas S. Awesome. Great Info, Thanks! "LLC is more Psychological." I like the way you stated that. Thanks for the push & confidence. Have a Great one!

@Matt Vezina Thank You! 

@Peter Mckernan Sounds Great, so basically communication is key whenever wanting to put property into LLC ? With mortgage lender etc?

In process of closing on first multi fam residential property, a small duplex (house hacking.) just a question on forming a LLC.

-Is it smart to get property under LLC? If looking to depreciate, write things off etc?

-how would it positively affect me? Or hurt me for just having 1 property under me? (Will be pursuing more.)

-can you later change to LLC?

-what other options would y'all suggest? 

Thank You BiggerPockets :) 

-Adrian 

Hello Bigger Pockets, question regarding a Development Partnership?

My father and i have found some lots for sale and are interested in purchasing

1 or 2 lots. It would be our 1st investment & was wondering what are the pros

& cons of going this route. currently, no homes on the lots.  Eventually

if purchased land, our plan was to build a home on each lot (obviously) 

& eventually buy & hold or just sale? 

info on prop:

+size: 10,000-10,887(highest)

+lot premiums: $250-9000(highest)

+1/4th to 1/3 acre lots 

+16 floor plans to choose from

+builder allows sweat equity 

+2-10 builder warranty

If anyone has gone this route or has any Good/Bad experience,

i would love to hear what you have to say. 

thank you fellow BP Members. Happy Holidays!

Hello Scott! I see you are active in areas that I am interested in. If you ever have some time to talk, that would be great! Some coffee? A beer? Looking forward to your response. Happy holiday. Thanks.

If you don't mind me asking what financing did you guys use? Congrats! Looking into getting into my first investment property sometime soon, contemplating on flipping or not.