All Forum Posts by: Keith Minton

Hello

I have a bunch of rental properties and i put a yard sign and an information box with some pamphlets about the property in the yard. However i want to get a text code where people can text "Info" to 5555 for example and they get a text back with all the property details and a link to my website.  I would like to have 3-5 separate codes so that i can have 3 signs at multiple places for rent at one time.

Does anyone know of some good services they use? I have looked around and i don't want to spend $600 a year for this. 

Also does anyone know of a texting program or voicemail program where i can send out a blast text or call to people who have inquired about properties in the past about an up coming vacancy. I have a couple hundred numbers stored. 

Thanks Keith

Hello Everyone 

Thanks for all the advice. Sorry i thought i responded awhile ago.

For the time being i am just going to keep everything under one LLC and look over the next year for a Broker or a better way to split out the management part.

Thanks Again

Keith 

Hello

I own about 15 rental properties near Cleveland Ohio. Most of these are multi-family so its about 28 apartments in total. All the properties are in one LLC. I currently do the property management by myself with the help of a business partner and a VA.

I want to separate these properties into about 3-5 different LLCs to spread my liability, then i want to separate the property management into a separate company to spread the risk. I am finding out that if i want to do this i will need a Real Estate Brokers license to management these properties then. Is that correct and if so how can i accomplish this diversification of risk ?

I don't want to get a separate property management company, because i feel that this area is a competitive advantage for us now. 

I do know a couple of Real Estate Brokers in my area.

Thanks for the help.

Keith

Thanks for the advice guys, well at least most of you.

@Bill G. you first post was so helpful it made me completely ignore your second post and take any "advice" you have and completely disregard it, while basically telling me i am ignorant idiot without any direction in what way i should go to accomplish this opportunity you have managed to not only waste my time but paint yourself as a buffoon. I pray that mentoring is not your job because if it is i truly feel bad for anyone you come in contact with. 

++What i am thinking of doing is to have the seller do a second on another property i already own, after closing. 

Hello

This is my first time posting so be gentle haha.

I am looking at buying a Duplex for 85K that will rent out for $1,500 conservatively. The seller is willing to finance 35K of it at 5% for 3 years. I can get a loan on this property for 75% of the Purchase plus repairs and it only needs 5K in repairs. So i could get a loan from a bank on this for 90K X 75% 67.5K which would mean i would only need to bring 22.5K to closing. What i would like to do is get the loan from the bank and then have the seller hold a second for 35K at 5% for 3 yrs. That way i wouldn't have to put any money down but instead i would walk away from the deal with just over 10K after closing costs.

I know this is possible but how can i guarantee that the seller will do the loan after he receives the money from the bank? I don't want to put it in the contract because then the bank won't loan me the whole amount.

I am not worried about the deal numbers, because i am projecting a min of $500 a month in positive cashflow for not putting any money down but instead getting 10K back. I have private money loans out now at 8-10% so this 5% seller loan would be a great deal. I also own 15 rental properties with over 25 total units so i am not worried about fixing it up or renting it out. 

Does anyone have any suggestions about how to structure this deal so i can get both loans. 

Thanks 

Keith Minton

Cleveland, Oh