All Forum Posts by: Eric Klug

I’m looking for Property Management recommendations for companies that operate in the Cranberry Township area. I appreciate the info.

@Matt Dingus I would like more information on your meetup, please!

@Greg Scott I agree, just trying to get a possible direction to start. It’s not just currently one owner, which makes things complicated for inheritance.

@Christopher Smith the condo is a place that the family has spent a lot of time at, so there is a lot of sentiment to go with it. I believe splitting it amongst the younger generation would allow everyone to have a place to vacation, with minimal cost.

Good evening! I hope you all are enjoying your Memorial Day.  

The situation: my mother-in-law owns a condo with her sisters and they are looking to pass the ownership on to my wife, her brother, and my wife's cousins.  The cousins are not children of the aunts, so I don't know if there will be any issue there.  I don't know how they hold the deed.

The questions:  What would be the easiest way to transfer to the next generation?  Can the property be transferred and inherited all at once?  Would that be considered a gift instead of an inheritance?

Good morning,

Yesterday, I received news that my tenant is ending her lease early.  This shouldn't be a problem, as I have a solid termination clause in the lease.  The question is, do I immediately look for a new tenant, or list the property for sale?

Quick numbers:

Purchased at $237k, currently valued roughly at $266k, I have $144K left on the mortgage at 3.976% (principal payment is ~$350/month), current rent is $1800, net cash flow is $245/month.

This is a townhouse that was built in 2012, and nothing of note has needed replacement.

I'm confident that I could easily get a new tenant in for $1800-2000, but I believe that maintenance cycles will be coming due in the near future.  The house has two AC units and two furnaces.  

I was laid off last year (as were many) and went through a portion of my savings.  Between the relatively good RE market, the time of year, current low-interest rates, and my reserve being less than desirable, I believe that it would be advantageous to list the property for sale.

This would also give me a chance to wipe my financial slate clean of some consumer debt, finish a stalled renovation and get it rented, and still have the cash to put down on a duplex in the near future.

I am interested in hearing the community's thoughts and appreciate the insight.

@Daniel McNulty Thanks! I actually found the 5 mil in assets required for an entity to be accredited after my original post. I appreciate the response.

Over the past year, I have been trying to invest in local businesses through a crowdfunding site, www.honeycombcredit.com. As a non credited investor who has reached the 100k income threshold, I’ve been able to invest in a few companies, but I’m nearing my 12 month limit.

My questions are:

Can I start investing with my single owner LLC on top of what I have already invested?

Do I count the business’ gross income (which is technically my pass through income) for investment purposes, or is there another way to calculate?

I wish to keep investing, but do not wish to inadvertently exceed the SEC limit.

Thanks @Alex Olson, I appreciate the response. I was seeing if there was anything else out there, aside from typical savings, CDs, money markets, that I may not have thought of.  

I already have two investment properties.  We want to keep a set amount accessible (withdraw-able within 1-2 years) for our residence.  I'd just like to find a way to monetize the sum, so that we aren't just keeping up with inflation.

Hello!  My wife and I have a small amount of funds that we sat aside when we purchased our home.  We figured we could use it for any improvements, or when something inevitably breaks in the house.

We keep 30% of it readily available in a savings account, and the other 70% is in a different bank's savings with a higher yield.  As bank's interests rates are kind of abysmal, currently, does anyone have any suggestions on where else we could invest <10k for a reasonable return?

Being that my wife's risk tolerance is less than my own, I'd like to have the best of both worlds (haha) of having a decent return with low-medium risk.  I appreciate any insight.

Eric