All Forum Posts by: D Turner

@Norris Frazier

Not every deal is for you. Practice walking away.

I was told that the eviction ban does not apply to single family houses in unincorporated areas of Los Angeles County.

Is this true? I need assistance.

Thanks.

@Carl Fischer

Tough situation. In order to hedge against renters who may lose their job, you may want to seek subsidized tenents or tenant to receive some type of government support to pay their rent as a larger percentage of your renters. During the last recession we actively searched tenants who received rental support from their local governments. During the time of recession it seems that the lower end of the economic spectrum tenants who receive govt support - pay their rent because the government backs it.

I am now seeking to extend all of my line of credits in order to put myself in a position to purchase property with cash. During the next downturn we will need to have cash to start our cycle in creating more value. I am going to start making appointments with our local credit unions and their risk managers to start the relationship development process in the event the economy turns down. Although right now it seems like things are fairly stable and I believe that our government is artificially propping up this economy. Once we get this covid taken care of we will probably have a very short period of restructuring before putting our foot back on the gas.

Thanks for the question.

@Mike S.

Thanks

@Vaibhav Puranik

California

Which banks are providing the best LOC rates and limits right now for real estate LLC's?

I am heavy in collateral but light in-cash for cash purchases.

Thanks for the help.

@Carl Fischer

For most people this question is just a diversion. I've been successful under Bush, Clinton, Obama, Trump, and will do the same under Biden.

Main issue with trump is that he cap property taxes as t 10k and that hurts homeowners.

I suspect with Biden that he may increase the tax deduction which will help but mess around with the capital gains rates which will hurt.

Other than that I only worry about nation welfare being handed out like candy and Biden (Americans) will be stuck with the bill.

@John Simerson

Possible Solution:

Refi the property with the 200 neg cash flow and get rid of that pmi. That will clear the property of a negative cash flow.

Sell the second. 800x12=9600

Plus improvement, rent loss, etc. Or refi to bring the cost down to break even.

@Erin Dorsey Robinson

If I told you guys my trademark, patent, highly protected secrets then I wouldn't find anymore "distressed facilities". Hint... (Happy Saturday)...

Covid has made immediate millionaires with tremendous risk.

@Tony Robinson

What a great story. Thanks for sharing.