All Forum Posts by: Kase Knochenhauer

@Brandon Singleton - do it! Only pay attention to a few caveats:

1. Ensure that the property cash flows
2. Only buy if you plan to keep for 5+ years (you'll have little equity in the property, so if you need to sell you might have to bring money to the table)
3. Multi-units (4 or less units) will prove to provide the best cash flow and give you the most capability of leveraging your 0% down payment)

Thank you for your service! 

@Gaurav Mehta - I'm not a professional tax accountant, but here's my quick answer:

1. yes
2. 100% deduction for roof repairs. Roof replacement need to be depreciated over time (27.5 years)
3. All ownership expenses accrued on rental can be deducted first year. However, property improvements will be depreciated over time (27.5 years)

Any accountants that need to correct me, please do so! :)

@Brad Pesek - get started. 4-5 hrs away is no issue. You're also worrying about a situation that is several years in the future.

If you work hard you can get your systems in place so that your out of area rentals run seamlessly by themselves.

Now go to work and invest in something amazing!

@Rob Bianco - waiting to refinance the property will likely give you the most back when it refinances since appraisals are based on current condition (and can't typically project as-complete).

If you aren't dying for cash and don't care about maxing your leverage, go ahead and start the refinance process. Your property will cash flow better, you'll be slightly less leveraged, and also get your cash sooner so recycle your assets.

@David Wales - oh man! You've got to get things moving! :)

First - check your contract, it's likely that you put a $50k EMD down that is contingent on financing even if you waived inspection or due diligence.

Second - make a bunch of phone calls today to local credit unions and small banks in your area. Someone will help you finance a property that doesn't require a history of rental income. Alternatively, start having some conversations with other local investors and bring them in as partners or hard money lenders. The down-side of commercial financing is that most appraisals will take at least 2-3 weeks to be returned (they are a lot slower than residential appraisals).

@Chris Damon - I agree with @Nathan Gesner, we've seen this various times to settle the estate. 

I wouldn't be worried about the bills getting out there - they won't specify the medical procedure, just billing/collectors info.

Their real estate business didn't last too long! 

🤣

@Catina Carney - my recommendation would be to take the following steps:

1. talk to the local zoning supervisor for detailed breakdown of property classes appropriate for temporary structures
2. connect with mobile home specialists in the area. They are likely to have additional insight on the more gray areas of semi-affixed structures
3. create different product types (on wheels, on foundations, etc) for different clients. This will give you more flexibility during the sales process and additional locations to place your containers.

@Ev Conrad - agents have little attention span. I'm an agent and had trouble getting through your paragraph long question because I saw a squirrel out my window.

Can you simplify your question for those of us more elementary in the tech world?

@Brandon H. - We've had luck hitting all those terms, except the 30 year am. We're getting 5/20 year though for a better rate in 3.9-4.1% range.