All Forum Posts by: Aviv Berkovitch

Hey,

I would be happy to hear the opinion of investors who invest properties of $60k-$80k.

In all the books, podcasts, articles I have read / heard.. there is some assumption of 5% rule of the annual rent that should allocate for the regular maintenance things.

But for some reason, no one talk about the fact that after 10-15 years holding this kind of properties, it is probably necessary to start replacing the essential things at the property. Such as roof, furnace and more .. it is not mandatory that in one property you should replace everything, but in this kind of properties since they are not new.. in each of them you compermise on something when you purchase it.

What is you strategy after 10-15 years holding this kind of properties?

Thanks

@John Bianco

All of them SFH

@Joshua Baker can you recommend for someone that work in Indianapolis?

Thanks

Hi

I just finished a call with a Bank of America loan representative, and he told me that since I own more than 5 properties, I can't refinance them.. any of them. "this is the guidelines of the bank"

I purchased all the properties with cash, and I don't have any loans or mortgages.. can someone encounter in the same situation?

Thanks

@Mike D'Arrigo Thanks for the answer.

I have another question.

We started the eviction process. And just next month we have our discussion in the court.

I'm afraid that during thist time, the tenants will decide to leave the property without telling us and won't close the door or something like that, and people will have the option to get into the house, steal things, etc.. 

I don't know how it works, but maybe I can hire a patrol service? someone that check the property once a day? Are you familiar with case like that? just to check that the door close, and make sure that the tenants don't do any vandalism things?

Thanks

Hi,

My property management company did a mistake, they gave the key to the property for a new tenant that moved into the property yesterday, before his check approved by the bank. Today, we got a notice from the bank that his check back.

It seems that we need to start an eviction process. Can someone tell me if I need a lawyer? How much this process should cost? How long does it take to get the approval of eviction from the court?

Thank you

Hi all,

All of my properties hold by my LLC's .

I would like to start and refinance them and take mortgages from the bank in order to purchase more properties.

A friend told me that in order to refinance a property, the bank will ask me to change the ownership from the LLC to me.

Is that correct? What is the right proccess to do that?

Thank you