All Forum Posts by: Gautam Venkatesan

Love the title of your post! :)

Welcome to BP!!

I have used One Prop and they do a great job! Not sure if they work with international investors but worth a call. Your client needs to understand any property management vendor has additional fees for locating tenants, surcharges for repairs, etc. hopefully those costs are accounted for in the cash flow analysis.

Yes it is. The wrap around the current lien from the seller to you is not affected by Dodd-Frank (since you are not going to live in the property) but the wrap from you to the end buyer would need to comply with Dodd-Frank assuming the end buyer is an owner occupant. In both wraps the due on sale clause is something the current lien holder can call due. Definitely get with a knowledgeable attorney.

@Marlon Wilson

does the seller (your client) own the property free and clear or is there an underlying mortgage?

It will be much easier to do what you are asking if the property is owned free and clear, in which case you need to work with an attorney/title company to draw up the promissory note, deed of trust, etc. and then you could "wrap" a new note around the first note from you to the retail buyer.

Welcome @Cory Dean

there are lots of Dallas based investors on BP and there is usually a monthly BP meetup so be on the lookout for it.

@John Hixon

did you find any turnkey rental companies you would recommend?

@Eleasha Counts

I thought I would circle back with you and find out your experience so far with Allied's online content? Do you still recommend it? I need to get started...

@Cathy Labus

sorry for the late reply. Have you started the online course with Allied? How are you finding the content/exam prep? I need to get started...

I would wait till the end so after you refinish there are no dings/scratches

Thanks for sharing @Michael Seeker