All Forum Posts by: Clayton Maxon

@Don Konipol @Joshua Soboti @Allan Smith 

Awesome, thank you three!

Hey BP,

My wife and I plan on renting out our personal residence within the next year after we move. Has anyone had the situation where they got a HELOC on their personal residence and then rented it out shortly after? Is there a clause in the HELOC that says you must live in the residence for the entire or partial duration of the line?

For context, we are considering the HELOC for renovation to our personal residence to get it ready to rent, and possibly also to have another source of liquidity for other deals. Even with the higher rates today, it will have a better rate than the personal LOC that we have currently.

Thanks!

The location and time of the meetups sometimes changes (this week it is a golf outing). I do not run the established one in the area. If you want the specifics of it each month, check out the Omaha Real Estate Meetup Facebook page. 

Hey BP, are there any investors out there in Bellevue, Papillion, Omaha, NE area that would like to connect? There is a meet up almost every month, but figured I'd see if anyone wanted to connect if they couldn't make those. 

Hey BP,

I know sometimes investors like to keep their contractors a secret, but I figured I'd give it a shot. Does anyone have any contractors they would be willing to refer me to in the Greensburg, PA area? Or contractors in Pittsburgh/Allegheny County/Westmoreland County that would be willing to do a job in Greensburg? Thank you in advance!

If you still need an agent, give @Michael Scott a call. We worked with him out of state and found a good duplex. He works with investors a lot and has investment properties himself, so he has lots of knowledge about the industry and the local market. 

Hey everyone,

I have a situation I wanted to see if anyone else has experience dealing with. Our property manager for a long term rental has been awful with communication ever since we signed a the management agreement. Recently it has gotten worse. We have been trying to get on the phone to talk about a few non urgent questions. The PM didn't call us on our scheduled time two times, and then said we would be contacted on two other days but we heard nothing. We have professionally expressed our frustration with the lack of communication, but only received short answer responses. Our last three emails have been unanswered trying to reschedule and address the lack of communication. It has now been about two weeks without any response. 

We have received all the rent payments and luckily haven't had any urgent or high priority issues yet. The management agreement says the contract can only be terminated early if we pay out the remaining equivalent of monthly fees. Is the lack and almost nonexistent communication grounds for the PM voiding their part of the agreement? Would it be worth trying to get out of the agreement early without paying those management fees or would it be better to just ride out the remaining 6 months and find a new PM at that point?

Thanks for reading!

Has anyone ever bought turnkey properties through Rent to Retirement that would be willing to give their testimonial?