All Forum Posts by: Andrew Hove

found a solution. Thank you for all the help 

I live very close to the area in question. It might sound crazy but it's changing by the week. People are paying insane prices for houses that 2 years ago no one would touch. If you can find deals just east and north is a good bet in my opinion. 

I've done a traditional loan to my personal name and I've done a straight commercial/business loan (5year) to an LLC for a multi family but I've never pursued a fixed rate longer term note to an LLC.

I have a single family house under contract and would ideally like to find a fixed rate loan to and LLC (three partners, all with high credit). This might sound like a dumb/ newbie question but is this possible? I find info on the web a bit murky about this. I asked in the local forums because maybe someone has a personal referral. I posted a few months ago about a problem I had on another property and the NC forum was very helpful.

This property is in Durham if that is pertinent at all. 

I have a rental that is a 2/1 single pitched roof that is only 780sqf. Pretty much the easiest roof you could ever do. I've done a lot of remodeling but never a roof. Has anyone done a DIY roof? tips? Should I do a 30 year shingle or go metal so I never have to worry about it again? I plan to hold the property for a very long time. 

Hello, 

I currently own a quadplex in downtown durham and am trying to find financing to pull cash out. It's proven a bit difficult. The property is technically two identical duplexes right next to each other on one tax parcel of land. Fannie/Freddie residential lenders won't touch it because they want to treat it as two houses, not one quadplex. 

So I either need a good portfolio lender that will do a 15 or 30 year home loan or a business lender. I've hit walls with my current contacts. 

The property cash flows well, all tenants are current, and I have 4 signed leases. 

Can anyone help me out? Thanks 

Just found the site and am tearing through podcasts and articles. Such a great resource. Thank you to the founders and wonderful contributors. It has been a huge help. 

I currently only have one rental property but am currently under contract on my second deal. Pardon my ignorance if I ask anything stupid. I've searched for my question below but came up empty. 

My first primary residence we lived in from Jan1-May 15. During this time we occasionally rented the house on Airbnb while we were out of town. 

May 15-Aug 1 I rented it a bunch on airbnb and on Aug 1 a full time tenant with a year long lease moved in. 

I'm at a loss on how to treat the taxes here. Do I separate out the income from the short term rentals and long term? Or do I lump them all together and just treat it all as rental income. I'm using turbo tax business. 

At this point I want to do my own taxes this year. I realize once I have multiple properties this will become much more difficult and probably not worth it but I'd like to know how this works. Thanks in advance.