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All Forum Posts by: George Leverett

George Leverett has started 2 posts and replied 2 times.

Post: financing question / 10 loan limit?

George LeverettPosted
  • New to Real Estate
  • Oregon
  • Posts 2
  • Votes 0

I'm a new investor, we (my wife and I)  own 1 single family rental and are in process of picking up a duplex.  I hear that there's a 10 loan limit for FNMA underwriting, so for long term planning we are thinking of putting the current purchase (duplex) in only one of our names, probably my wife.   Our intent is that by putting future loans in only one of our names each time, we can get more mileage out of the 10 loan limit.

Still, this is so new to us ...Does anyone insight into this? Would we still title it in both our names, or just the person who's borrowing? 

Any insights are gratefully received!!!

Post: prop management fees ...normal?

George LeverettPosted
  • New to Real Estate
  • Oregon
  • Posts 2
  • Votes 0

Hi all! I'm a newbie investor getting ready to close escrow on my first house and am shopping for a property manager (Indiana). I've communicated with one company so far and the fees are 8%/month, but also 75% of the 1st months rent.  Is that 2nd part a normal fee?  I have no experience to draw on so of course I'm way overthinking it, and would love to hear other perspectives.   Thanks for sharing