All Forum Posts by: Aries Li

Any referral for attorney to handle tenant eviction in indianapolis ? Appreciate it!

@Lucas Miles

These properties are owned by myself, but I suppose I will move them all to the LLC when doing the refinance, so that the properties are owned by LLC (sole-owner: myself) and the fund from cash-out refinace goes to LLC. The option I was thinking about is to withdraw money from LLC for my personal investment use.

There is difference when applying loan using my own name vs using LLC. As far as I understand from my loan agents, LLC won't be about to apply for residential loan but have to turn to commercial loan.

Hi,

I have accumulated several single family houses in Indianapolis and was thinking about refinance and move them from my name to LLC. Assuming I was about the do a cash-out refinance using a portfolio loan, the fund will go into the business bank account of the LLC. My question is, If I move the money from the business account to my personal account ( so that I can buy/finance with my name again), would that introduce complication when filing tax return?

What's the best way to move money and buy again? Thank you!

I have 3 investment properties in Indy. Now I am exploring to buy residential property through LLC. Since it's a newly created LLC, there is no revenue history yet. I am considering paying off one of my properties to move it under LLC and wait some tine to accumulate some revenue history, but this takes time.

I am wondering if there is any lender that can provide loan to LLC to buy residential property. Please share your experience and any suggestion would be appreciated.

Hello my friends,

I'd like to install a fence ourselves on the back yard. I checked the city code that privacy fence on back yard doesn't need a permit.

However, our HOA requires us to submit a request along with the plot plan.

I am fine with that but I couldn't find the any plot plan in the closing documents. 

Who would be able to provide or find the plot plan? I understand a contractor might do it, but we prefer to DIY. Thanks a lot.

Aries

Hi Mike,

Right. For single family house in Franklin is ok. For duplex, this minimum matters as rent is most likely less than $1000.

I talked to a property manager my agent recommended.

They are going to charge 1-month rent for lease fee when they land a tenant, and 10% rent or $100 minimum per month per unit; half month rent for lease renewal.

They can indeed accommodate appliance delivery and manage small renovations, but that's going to be $60/hr. In house maintenance is also $60/hr.

My property under contract is in Franklin township. Does this fee look standard?

I am looking to buy investment properties in Indianapolis. Can property manager take over as soon as closing, such as getting the key from seller, cleaning the house, cosmetic  repair, and rent it out? Is it too much? Thanks.

Aries

@Wes Blackwell 

based on the area on the picture above, is it a C or D neighbourhood? Thanks.