All Forum Posts by: Edward P.

Lenders are being super safe(conservative)with their values.  The appraisal came in at close to. 80% of what others are actually selling for similar income.  We will do the refi cash out when our Adus are done.  

how much do PM charge to manage properties now a days? 

I own a few small RE multi family in Los Angeles.   I am currently not liquid in any of the assets due to building ADUs and saving for the rainy day.  

my brother is interested in purchasing homes and wants me to run management as I am doing for my own.  
A management fee charges 5-6% it's really not worth for me to do all of it for the amount.  I don't want to charge more than I should.  What's a fair business practice between family?    

My current 9-5 is dying out and I may leave a completely different industry soon.  I come from a sales position in my own company and through the years I was able to purchase small 1-4 unit properties and I am building Adus if possible as much as I can.   I am legacy wealth rich but liquidity poor.  I don't have a large cash flow because I am putting more money into the for construction this year.  I am looking for some advice on what I should do on a daily basis? 
 
I have a California real estate brokers license and a mortgage loan officer license but have them in inactive status.  I need to fill the void. I have been studying for the contractors license B just to get acquainted and possibly work on my own and other owners properties.  Thank you 

Thanks for the reply, Kevin. 

Yes, the property is an investment property. After the loan was executed 2 years ago I called the lender after the first payment to process a quitclaim deed and they did not approve. 

I understand conventional loans need to have a person as the principal not an LLC. Can the title be changed after the loan is processed? I am doing this for liability reasons.

Hi BP community,

I currently own property in my name and want to move it to a LLC, can I do this before I would want to refi?

If you know the best practices in California as my previous broker said a quitclaim would be fine, after a call to the lender they will not accept a quitclaim deed obviously. Thanks in advance. Do you put one location in one LLC?

Hi @Gabriel Amedee

Thank you but it only shows for owner occupied where can I find it for investment purposes?

@Harjeet Bhatti Where can I get a idea of the rates?

Thanks!

Thanks @Dave Foster

Hi @Gabriel Amedee

Thank you but it only shows for owner-occupied where can I find it for investment purposes?

Hi BP,

Where can I find the rate for today for personal and investment?

I have searched on the internet and I can not get a good answer. Thank you.