All Forum Posts by: Alonzo Ramirez

If you don't plan on getting a new "Leased" vehicle then keep the old one and write off milage. Id recommend this app called "MileIQ" it detects patterns and can automatically start logging miles for you. Swipe left for Personal milage, swipe right for Business. As for the tax deduction on repairs, it would be wise to deduct the percentage business and personal use. (95% for business and 5% for Personal for example)

@Alan Grobmeier even though you mentioned that it may be a hassle, id still like to be into multifams. This SFR I'm talking would be my first rental property, down the road from my primary residence and looks comfortable to me. But would have goals to be invested in a 4plex+. but as of now, the deal will not go through unless she:

Installs new roof

termite treatment

and gonna see if she'll lower the price or credit me at closing to fix some drywall damage that the house has. 

...other then this, I think this would be a good opportunity to experience being a landlord (with property management) and finally putting into affect the knowledge that I know, no more analysis paralysis of me. But I do stress again, 4plex+ or small apartment complex would be great for me and my future endevours. 

what are y'all's thoughts about it affecting my DTI? and whats the % that would put me in a good position for my future investments?

thank you all

@Wesley Branaman, my Registered Agent is hired by me and sends me my mail and letters that are made out to my entities. Sounds like mailer letters would be the only option. I'd personally send out my own version of letters to change it up on a quarterly basis. Consider adding a personal touch.

Sounds like everyone is doing mailer letters now a days.

this one makes sense to me.

the area you want

Curb appeal

Sweet balcony

I'd put hardwood floors, crown molding and change the color of cabinets..

https://www.zillow.com/homedetails/6939-Bevis-Ave-...

..and I'd keep my eye on this one, grear interior, for me.

https://www.zillow.com/homedetails/15215-Runnymede-St-Van-Nuys-CA-91405/19961332_zpid

ask for more. 

No, I live in Texas and I cannot believe the market there but again, everyone wants to be there. 

Just as your realtor said, go for anything! Lol

Originally posted by @Mike R.:

I'll make more money this year and can get a bigger loan next year. Which also throws into the mix. Trying to time things only drives you more nuts.

 My $.02,

Seems to me that there's no such this as a "bad neighborhood" in LA...just avoid the D market areas...  Are people still moving to Dallas from CA? And Phoenix? If movings NOT an option for you and with your financial confidence and no kids, max out your offers every time! 

LA being a Hot market people will always pay more. If I was you I'd over pay now then later. Maybe even post a "make me move" deal on Zillow for about 100-200K more then what you payed for and 1031 it into your next home or use excess as down payment if you don't mind paying Capital Gains tax.

I'm new in this game, but a newly found passion for me. 

Comments?

Bhai Shah typically interest rates would typically be 6-12% at minimum get 3-4 quotes at the local bank the multi fam is located in. Mix it up between -Banks -Credit Unions -Mortgage companies Ask to speak with the Loan Officer, present to then this deal, your down payment, and excellent credit score they should welcome you with open arms...and experience or atleast have a partner/team ready. Questions to ask Loan Officer: - What kind of loan programs do y'all have for rental properties - What are the loan amounts y'all typically lend on - Current interest rates - What are the terms - Any other information I should know Best of luck

Wesley Branaman , I'm curious as to why you would wanna gather this data and purpose. I assume that one would make this in order to send out yellow letters to find out whose interested in selling... I've created entities for asset protection so that my personal information is kept out of the public eye. Addresses would be easier to find then direct phone numbers, but even then a Nominee is put in place and resigns his position. This being said, along with my assumption, id use the PO Box that is associated with that entity because the person that receives this "yellow letter" from you forwards it to the actual owner. Time suck, but still affective. Best of luck! -Alonzo

@all realtor is currently awaiting paperwork from insurance Company stating that roof is uninsurable but asking if I'll still be interested if roof is fixed.

Never mind. Just takes awhile to update.