All Forum Posts by: Alecia S.

I currently have 5 single family rental homes and I am getting ready to buy my first out of state property. It is a duplex. What do you find is the best way to keep track of your rentals? Do you have a separate bank account for each property? This is what I currently do, but seems as you get bigger this becomes tedious. Curious to see how others keep track of their rentals and other strategies. Thank you

I own five rental properties and am in the process of doing a cash out refinance on one of them. I own my current residence and do not have a mortgage on it. Do you think it is better to do a cash out refinance on my primary residence to save in interest and receive more money to invest or to do it on my rental property. I could save about 300 dollars a month doing it on my home but do not know if I want to risk losing my home to invest in more properties. What do you think?

Thanks for the advice.

Help! I have someone willing to owner finance a house to me worth 220000 that I could rent out for 1750 a month. I have never done owner financing and wondering if anyone has any suggestions. I think it may be worth doing because it will not decrease my debt to income ratio and I will still be gaining an asset. The property needs no work done to it but does not meet my one percent rule to work as a rental. What do you think? Any suggestions on how to approach sellar with specifics on the financing? It is not on the market and he is willing to work with me.

Thank you for the information. I think I will pass for now. The property was aluminum siding and in Mississippi. It would have been my first out of state purchase. Probably more than I want to handle at this time. 

Hi I have found a property that may be a good deal. However it was built in 1946 and I am concerned about lead paint and asbestos. Most of my properties are less than 10 years old. Is this something I should be concerned about? Should I have a specific type of inspection? I would be renting it out. Thank you 

Thank you for the advice. I will follow up with title company tomorrow.

I recently bought my fifth rental property from the bank and have a cash deed. We are currently renovating the property and a man shows up and tells us that he still owns the property and has a grant from the habitat store for 40000 to renovate the property. I have a cash deed on this property. He is the person who had previously owned it. I told him he needs to talk to his mortgage lender/bank who sold me the house. I was planning on proceeding with the renovations. Should I be concerned with this man showing up?

   I am new to real estate investing. I bought my first rental with all cash for 121000 and rehabbed it to be worth 160000. I currently rent it out for 1395 a month. 

   I am buying my second rental closing on Monday with a 25 percent down payment and a 30 year mortgage. 

   When I am ready to buy my next one I was wondering if I should borrow against the first property for a down payment. I am not well schooled in the financial world and was wondering if this would be a good option to increase net worth and decrease taxes.

Looking for advice. Thank you.