All Forum Posts by: Kris Johnson

I bought 4 properties from him and would advise NOT to work with him. It has been a frustrating experience with repeated failures to deliver to promises.

Hi all, I have been a bit frustrated on the performance of several of my SFHs in the past 8 months. Thus, I am looking at passive real estate investing via good syndications. What are the pros and cons of of SF VS Mf passive in terms of: * tax sheltering w2 income (depreciation, expenses, etc) * income tax rates on passive income VS active income * performance and cash flow reliability By selling my SFHs and investing passively,what do I lose? Thanks

Hi All, I am looking for advice and a link to financing sources which will work for my situation. Any help is greatly appreciated!! I want to finance for purchase and cash out refinance some other properties which I own with 100% equity. My credit score is 740. My work contract is limited and will end Dec 2018. Meanwhile, I am interviewing for the next role. I am looking for financing with minimum loan amounts of $40k. I could settle for a bit higher, but estimate the market val of the properties and 70% LTV requirement would give me loans around 40k +\- Property location is Indy. Loans made to LLC which owns the properties, but I will personally guarantee. Any suggestions on who to contact for this?

Hello All,

I am a US Expat (citizen living abroad for work - W2) and have 20+ years of history paying US taxes.  I am selling a few properties I have now, want to do a 1031 exchange.  I am planning on using the funds from the various sales to acquire around 10 -15 homes in Indy.  These are new construction homes with a price around $65k - $70k each.

Can anyone refer me to a lender who can help in this situation?  I will be over the Fannie / Fredie limits with this so need good alternatives.

Thank you,

Kris

Hi all,

what software do you use for tracking your properties if you are a passive real estate investor (landlord)?  What do you use to track income, expenses, mortgage payments, etc?

How do you prepare annual Schedule E forms, calculate depreciation, etc

How do you determine CoC and ROI on your investments?

Can you recommend an affordable and simple software solution for the passive investor?

Hello All,

I am seeking a property manager for 4 duplexes in Marion County Indianapolis.  The properties are class C properties and have been gut rehabbed.  I am in need of a great property management company.

Thank you for your recommendations.

Kris

Old thread but I am not sure where you are at with this @Jordan Williamson.  I have started to use LimaOne Capital.  I am in the process of doing cash out refi on a group of homes I own.

@Upen Patel

@Upen Patel thank you for the feedback.  Yes I am an American ex-Pat living abroad.  I do file tax returns each year and have conventional mortgages on some real estate investments already. 

My current work contract calls for a 6 month termination / resignation notice.  I have given notice and I am still paid and working for the next 6 months.  I have spoken to my conventional lender and was told since there is an upcoming end date in my contract, I cannot get another conventional loan until i have another employment contract in place.  Since I am considering going self employed, I cannot have a conventional loan until I have established 2 years of self employed tax returns.  

 I am considering going independent later this year, once my resignation period has run its course.  I have a strong credit score, no debt, high income, cash to invest, but need to find a stated income loan - unless you can suggest alternative loans for me.

Cheers,

Kris

Hello All,

I have resigned from my W2 job and going into independent consulting.  As a result, further conventional loans are out of reach until I have 2 full years of tax returns.  

Come Q3 this year, I will have 300k plus cash from various options that will mature.  I want to put this into real estate and ideally leverage it via financing.  I am planning to invest it into residential single and multi family turnkey properties. 

I am looking at markets such as Chicago, Cincinnati and KC.

Can anyone recommend some portfolio lenders who will work with someone without W2 income or taxes proving income as an independent.  I would hate to sit on the money and not be able to put it to work.  That will seriously Impact my financial Independence Day plans 

Good Point and I choose the wrong words, he is more a distant Friend and will support me as my Partner.  I have money to invest.  He does not need more partners, but will supply me with some properties and I am wondering about what is the total all in cost a Flipper typically has as a % of market value.