All Forum Posts by: Daniel Rubenstein

I am working on a getting a HML on a 4 unit property. My first time using this HML and I just received their application. Their application is extremely extensive (seemingly). They ask for all my RE owned, name and account info for all my assests, all my other mortgages, etc. They are asking for %20 down, plus 2 points, plus a 1200 "application fee" for documents and inspection, @ 12% for 12 months. Is there something wrong here? Should I find another HML?? TIA!!

a friend told me. Just asked him and he said he saw it on Flip or Flop..probably bs.  

help??

I recently saw someone buy a property at auction only to enter the property after purchase to find the house totally vandalized (broken windows, holes in walls, broken floors, concrete in plumbing).  They then somehow received 15K from homeowners insurance.  I am unclear if it is their Homeowners Insurance or the previous owners, or if the bank/trustees have some kind of coverage...??  

But I was wondering, has anyone heard of such a thing?? is this possible?? If yes, what are the parameters for receiving benefits?? 

TIA

thanks Michael!  Any idea where I can find that podcast??

Thank!

Anyone ever heard of turning a regular SFH into a mini assisted living facility? Not sure the details, but I got an email talking about it and I wasn't sure what to think. Seems like it would be a great way to squeeze more cashflow out of a SFH.

Any thouhts if this is possible?   

What would need to be done to make it happen?

Can it be done to any house anywhere? DO you need nurses on staff? or other employees?

any information would be great-even if it is to burst my bubble.

Thanks!

great tips all around!  Thanks!

Seems to be opposing arguments here- 1) Without the money man, I would have nothing-so better a small percentage of something than nothing.

Or 2) Without me, the money mans money would be sitting in a bank and losing value yealy to inflation.  I am doing all the work so I deserve %50

Interesting...still not sure where I stand..

thanks @Caleb Asbridge!

I was thinking of forming either an LLC or owning as tenants in common. I dont understand why it has to be a loan even if I do all the management?

Question- there is probably a cool, professional way to word it, but I was wondering:  if I wanted to work/partner with a friend of mine who has the funds -but none of the time, knowledge, or contacts to find and manage properties- I would find the properties, find renters, and manage the property, and he would lay out the %25 down payment.  What is a fair way of splitting the ownership and/or division of profits (from both cash flow, and an eventual sale)??  I would present the deal to him, and if hes interested he would lay out the funds..

(I am not interested in just borrowing the funds for various reasons; mainly because I have this uncomfortable feeling of owing a friend this much money...even if I know it's somewhat secured in a property)

Is 50/50 split ownership fair? or is that too much for me as I have no money invested? What is "typical" in the REI world? and/or what do you think is fair regardless?

TIA!!

Hi all, any 2015 updates on Vegas? THoughts on apartment investing here vs SFR? Any thoughts on what to expect for the vegas RE market in general? Summerlin specifically?

Thanks!