All Forum Posts by: Mark D.

Was it a rehab and you are now trying to unclock equity from the new value? Please give more details about the scenario/ 

Hi David,

Not many lenders right now will do a HELOC on an investment property. I've heard recently that Spring Equity will do them but I'm not sure about the guidelines.

Lender can be located anywhere so long as they are licensed in MO. Will you spend more than 50% of your time there or less?

Do you have a dialer that you recommend? I'm using call tools but the numbers show up as Scam Likely even though I'm following the protocol that they recommend. I was thinking of trying Mojo dialer but wanted to see if there are any other options?

Do you have a dialer that you recommend? I'm using call tools but the numbers show up as Scam Likely even though I'm following the protocol that they recommend. I was thinking of trying Mojo dialer but wanted to see if there are any other options.

A friend of mine needs it appraised for Probate purposes. She doesn't necessarily intend to sell it in the near future but as executor needs to know the value. It is a 9 unit retial/office building.

Can anyone recommend a Commercial Real Estate appraiser in Los Angeles (Silver Lake area). Thank you

If you are creating an S corp, then you would still be an "employee" of the corporation as long as you are paying payroll taxes and issuing yourself a W2. You can then submit your personal W2 and paycheck stubs for the loan application and if there is left over income that flows through the S corp, then you will issue yourself a K1 that will also count as qualifying income with the bank. I personally prefer to use a payroll company to handle all of this as I am too busy to deal with it myself. They will cut your checks for you and pay the government payroll taxes on your behalf.

My property management company in Memphis wrote up a Lease Option contract on one of my SFR's in January 2011. The buyer/tenant gave a $4500 deposit and had 12 months to exercise his option. Well, 6 months into the contract, he defaulted and stopped paying rent. Property Manager initiated the eviction but the tenant filed BK to delay things so he has been living rent free for about the past 6 months. He has finally been evicted and now the Property Manager sent me an email telling me that I get $2250 of the deposit and his company gets to keep the other half. This didn't sound right so I called and he said that it is standard for all property management companies to keep half of the deposit. This doesn't sound right to me and I am going to challenge this and am contemplating a new management company for my properties but wanted to make sure and get others' opinions before I make a decision. Thank you in Advance!

So how much should the HVAC cage cost installed? My property manager just charged me $380, which seems steep. Thanks