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All Forum Posts by: Ethen Royal

Ethen Royal has started 9 posts and replied 18 times.

Post: Reporting evictions on a tenants credit report

Ethen RoyalPosted
  • Rental Property Investor
  • Warner Robins, GA
  • Posts 18
  • Votes 5

I am in the process of evicting someone, but I am unsure how to report the eviction on the credit report along with money owed. After the initial eviction from the court they do not have the SSN of the tenant to report it on there credit. How do I go about reporting an eviction on some ones credit so the next property manager / landlord is aware and I can attempt to recoup some of my money back?

Post: I am looking for Commercial Financing for a first time investment

Ethen RoyalPosted
  • Rental Property Investor
  • Warner Robins, GA
  • Posts 18
  • Votes 5

Hello all, I am in the process of purchasing my first multifamily unit which consists of 8 2 bedroom apartments, in which are already rented out. The property is listed for 640,000 which is a bit overpriced so I offered 550,000. I have 30 percent of the purchase price but was looking to see if there are any lenders who would do 20 percent down like a typical single family investment property. If anyone knows a good place for first time commercial investors or who has good rates could you please point me in the right direction. Thanks

Post: I am looking for Commercial Financing for a first time investment

Ethen RoyalPosted
  • Rental Property Investor
  • Warner Robins, GA
  • Posts 18
  • Votes 5

Hello all, I am in the process of purchasing my first multifamily unit which consists of 8 2 bedroom apartments, in which are already rented out. The property is listed for 640,000 which is a bit overpriced so I offered 550,000. I have 30 percent of the purchase price but was looking to see if there are any lenders who would do 20 percent down like a typical single family investment property. If anyone knows a good place for first time commercial investors or who has good rates could you please point me in the right direction. Thanks

Post: Other methods to Buy and Hold

Ethen RoyalPosted
  • Rental Property Investor
  • Warner Robins, GA
  • Posts 18
  • Votes 5

@Nick Rutkowski thank you for the info Nick I will look into a 1031 exchange and see what all that consists of. 

Post: Other methods to Buy and Hold

Ethen RoyalPosted
  • Rental Property Investor
  • Warner Robins, GA
  • Posts 18
  • Votes 5

@Alyssa Dyer thank you for your reply, I will continue to do just that!

Post: 3rd Rental Property

Ethen RoyalPosted
  • Rental Property Investor
  • Warner Robins, GA
  • Posts 18
  • Votes 5

Post: Buy and hold with Fund and Grow

Ethen RoyalPosted
  • Rental Property Investor
  • Warner Robins, GA
  • Posts 18
  • Votes 5

Has anyone use fund and grow for buy and hold properties? To my knowledge it seems pretty ok if you are going to do flips or something quick, but how can you use this service with a buy and hold property if your required to pay it back within 12 months or be subjected to the high interest rate. I would think if you could pay back with an a year then you really don't need it just wait a year and take the normal interest rate on investment loan property of 5.25%. Is there some other way this fund and grow company could work with a buy and hold property that I am missing? I am only speaking of the initial purchase of the property and not doing any updates with the credit cards or anything?

Post: Other methods to Buy and Hold

Ethen RoyalPosted
  • Rental Property Investor
  • Warner Robins, GA
  • Posts 18
  • Votes 5

Hello, I am looking to initially purchase 4 single family homes 20% down on each with a 30-year mortgage, then use the net cash flow on each property to save up for another 20 % to make the next purchases and so on. I already have 4 houses that I purchased this way and want to grow this number. Is it reasonable or possible to keep getting 30-year mortgages for the next 10-15 years or is there a better strategy? I have an LLC which the first 4 properties are already under title wise but the loans are in my name. All have a 5.25% interest rate. I know this much debt is not the ideal situation, but how else can I do it just by myself with no partner. Any suggestions, comments, help, etc. would be much appreciated. Thanks

Post: Personal Care Home Operators needed

Ethen RoyalPosted
  • Rental Property Investor
  • Warner Robins, GA
  • Posts 18
  • Votes 5

I am interested in this, I am real estate investor and have a property I am interested in turning into a PCH. Can you help me with this or point me in the right direction?

Post: Tenant occupied or standard home insurance

Ethen RoyalPosted
  • Rental Property Investor
  • Warner Robins, GA
  • Posts 18
  • Votes 5

Actually I have found it to be cheaper to just get a RDP ( Rental Dwelling Policy) from State Farm which is awhole lot cheaper than actually getting a standard insurance policy. RDP just covers your rental property if anything happens to it and not the stuff located inside which is usually your tenants belongs. Then after you get your RDP require all of your tenants to get separate renters insurance from somewhere which is usually like $20 and you can tack this to the rent and set it up or let them do it on there own. But it covers you if anything shall happen on both sides.