All Forum Posts by: Clifford C Toth

Who has the best investment property mortgage rates for single family property.

I applied 3/31/20 and all five LLC were denied due to no funds left. Two received a grant of $1,000 each. This will not keep me afloat. Not looking forward to what's next.

I wonder why some are still getting loans approved when my April 1st applications on all five LLCs were denied as only agricultural loans are available due to lack of funds in SBA.

I’m in disbelief that all my applications were rejected. The SBA letter states that my rental businesses  are “not a business activity that is eligible” I have five LLCs and can’t get a loan even though I put on application that I will use the property as collateral and will repay the loans in full.

Is anyone else in this predicament?

I have a new build home I’m paying $14,000 a month in taxes, ins, and bank fees and that’s not a qualifying for a loan?

Any help would be appreciated.

Looking for help with commercial tenants. They shut there doors and have no income to pay rent. Are any of you working with them or are you still expecting full rent?

What are you landlords doing with the tenants that will not pay rent due to the closing of there business due to the government shutdown. My PITI is still due and maintenance of buildings continue.

@Brian Ellis find out if she owns the BMW if so it’s an asset and have your attorney attach it.

God luck

@Michael Le same here the insurance will not cover. I have a SFH with $59,000 property taxes and hope the property taxes will get relief, it's vacant and the costs will bankrupt me. I don't know how long we can all put up with this. Stay safe and hang on.

@Shad Rich

Hello Shad, I have multiple LLCs and report their individual expenses on their respective tax forms. For expenses that are shared I have another holding LLC that all my office expenses, car, gas and all other day to day shared expenses are expensed to.

Hope that helps you.

Clifford

Don’t sell the equipment.

He might not own it and you will be at another loss. Hold the equipment until this is resolved. Give him a time is of the essence in writing and return receipt mail KEEP a paper trail.

Good luck.