All Forum Posts by: Chip Martin

Morning Denver BP,

Does anyone have any recommendations on affordable door and/or window companies? I need to replace some windows and doors in my primary, which will eventually transition to a rental so I only really need investment/mid-level flip grade products. I saw some old posts about Window World and others, but those recommendations were a few years old.

Thank you!

Chip

Thank you Wendy and Leigh! Really appreciate the valuable input! Your answers align with some of the information I uncovered in my research.

Update:

1. In the Wealth without Cash video series, Pace mentions that he uses a mortgage servicing company that takes money from his bank account, and makes the mortgage payment on his behalf. Still unsure on if the seller is still able to log into their portal to see the payments, etc, but at least it doesn't sound like the subject to buyer is dependent on the seller's portal login for payments.

BP Creative Finance Community,

I, like I imagine many of you, have fallen into the deep, dark hole of creative financing and subject to after reading Pace Morby's Wealth Without Cash. Specifically for subto, I understand the concept, when it's appropriate, and the pros and cons for the buyer and seller, but I don't understand some of the nuances, so, at the risk of being an ask-hole, I have a few questions.

1. In order for the buyer to take over the payments for the seller, the seller will need to give the buyer access to their mortgage payment portal account. After doing this, does the buyer need to do anything to prevent the seller from logging into the account, or will the seller typically continue to have access so they can monitor the payment history? If the seller continues to have access, what is stopping the seller from updating the login information so the buyer is unable to log into the account, other than the threat of payments not being made, their credit being impacted, and the lender starting the foreclosure process? I understand those reasons likely provide enough motivation, just curious as to how the portal access portion works.

2. If the loan remains in the seller's name, wouldn't all tax documents (e.g., 1098 Mortgage Interest Statement) from the lender reflect the seller's name? If so, does that impact the buyer's ability to realize tax benefits on the property?

Thanks!

Chip

Nice work! Love the end result and would love to see more before/after pictures. Also, how did you convince Chickasaw to fund 100% of the purchase and renovation costs? Was it a specific loan product?

Hey BP,

My wife and I live in the Denver, CO area, and we are weighing the options of turning our current home into a long-term rental or a medium-term rental once we move. Our current house is a 1200 sqft, 4/2 with a nice big yard. I know it would do somewhat well as a long-term rental, but I'm not sure if traveling nurses or other medium-term tenants would be looking for a 4 BR house. Is there a specific size house/property that some of the medium-term investors have seen have the most success? Any market out there for a 4BR medium-term rental? My initial thought is traveling nurses would likely be traveling solo and would be looking for a smaller property. We have also looked into the possibility of doing a short-term rental, but wanted to do some research on the medium-term market first since we are close to a few major hospitals.

Chip

Hello BP Tulsa Community, I am looking for some solid property management companies in the greater Tulsa market (e.g., Tulsa, Broken Arrow, etc.)? Do any Tulsa investors have any recommendations?

Incredibly helpful, @Brian Eastman. You’ve given me a lot to think about. Thank you!

Hello BP Community!

I am looking to convert my captive IRA (i.e., only allows me to invest in stock/bonds) to a self-directed IRA, so I can use those funds to purchase properties. Does anyone out there have any recommendations on custodians that are easy to work with that allow their self-directed IRAs to invest in real estate?

@Allen L. I am looking around some midwest markets for SFR buy and hold investing and I am interested in Wichita. I'm curious, what made you select Wichita as your market? Did you already have knowledge of the area or are you relying on the team you've built to help guide you in the right direction?