All Forum Posts by: Gary R Uren

I have a property with a house up front and a studio duplex in back. I was just informed that all the mail goes to the front house. The house is in the city limits of Klamath Falls, Oregon. I just wanted to see if anyone has any idea on how to separate them by addresses? Do I go to the city/county or something else? 

I agree with the previous response.  Just understand that you will probably have a lot more turnover and a lot more calls for service.  The turnover might be more difficult including eviction or cash for keys,  ect. It sure doesn't hurt to look.  See the area and see if you feel safe enough to work in that area and if they don't show pictures, not too many people will look at the property which might give you a good opportunity to get a great price on the place but make sure to calculate expenses and repairs to make sure that it is profitable. 

I Am trying to buy a house through my LLC. The credit union said I have to use a comercial loan which will be a 30 year loan but the interest will be fixed for 5 years. The interest will adjust every 5 years throughout the loan and after 15 years they will redo the loan to make sure the business is in good condition and can still afford the loan. Is this normal?

I am a new investor in klamath falls.  

Well, they are taking in 5 Foster kids. 

Thank you Joe, if it was just me, I wouldn't worry but I have 2 of our kids involved so I don't want to screw up for them and I don't want to screw the renters.  That is why I was asking.  Thank you everyone,  I appreciate all the help except for the first couple responses. 

Thank you. I spoke with the renters, we agreed to two adolescent children and two infants.  We were going to buy a house next year so I told her that we would buy a 4 or five bedroom house or a house that we can convert to 4 or 5 bedrooms. I informed them that the rent will probably be higher for the bigger house.  I'm sorry Theresa Harris if you feel that I am gouging her.  I'm doing the best I can, the bigger house will probably cost more for purchase and repairs.  I will be very careful about asking questions from now on.

No, just on the rental contract.  I don't care if they bring in a couple kids, just wasn't sure how to handle it.  They just sent me a text saying they want to bring in 5 Foster children.