All Forum Posts by: Grant Anderson

Hi all I am wondering what everyone is using to screen their tenants. What is the best tenant screening company for landlords that manage their properties?

I am looking to start managing my own properties in Indiana. I manage my own properties in California and use a very helpful service through the Rental Housing Association (rha.org). They provide rental application, lease agreements, 3 day or quits, and any other documentation needed to manage a property. They also have a property manager on staff to answer questions in case you have any and classes to help you become a better landlord. I am looking for a service like this for individuals that manage their own properties. Does anyone know of an organization like this in Indiana or how I would be able to get the appropriate forms and advice when needed? 

Focus on one area and build enough properties to justify the expense to visit. You should visit your properties at least once a year to keep everyone on your team accountable. The only caveat would be if you have family or friends you intend to visit anyways, you can visit them and take advantage of a tax write-off but talk to your CPA.

I am in the process of doing a 1031 exchange and am looking for a lender that can loan directly to an LLC. We are buying four properties in Indianapolis all with a purchase price of $100 - $120K all ready to rent. If you know a local bank or lender that does these types of loans please let me know.

I am looking for rental properties in Indianapolis.

Hi everyone, I am in California and am not sure if this is only in California or not. I have done a few rehabs and recently was approached by another rehabber that wanted to wholesale one of his flips. The numbers were very thin by my estimation. He said that I could get about $30,000 of the rehab costs through a program like ygreen.com, basically if you upgrade Windows, roof, drought tolerant landscaping, and other energy efficient items, you are able to get a loan that is attached to the property taxes for the property. When you sell the property the new owner takes over the payments because it is added to the property taxes. Does other rehabbers do this? It seems like the new homeowner is now on the hook for the rehabb costs without even knowing it. I understand that I can make more money doing this because it reduces my costs but just wasn't sure if it is the right thing to do to the new homeowner. What is everyone else's thoughts on this?

If you are going to do a 1031 Exchange talk to someone about it right away. You have to set it put before you sell the property. There are very specific timelines you need to follow so be sure to talk to someone that knows what they are doing.

Hi All - I am looking for a lender in Indiana. I have a couple properties free and clear that I rehabbed and am currently renting out. They are owned by my LLC. I would like to find a lender that will do a cash out refinance to an LLC to an out of state investor. I live in California. Preferably I would like to get 70-75% LTV. Does anyone know of a lender that can do this?

Thanks

@Shaun Weekes - I have over 10 financed properties. So I can't go conventional. I need either a portfolio  lender or a business loan.

Hi all, I am looking for a lender that will lend in Indiana. I have a single family rental property that I own free and clear. I purchased it a few months ago and have done work to get it rent ready and would like to get 70-75% of the new appraised value. It is owned by an LLC and would like to keep it in the LLC. I have too many properties (over 10) to go conventional financing. Does anyone have any recommendations for a good lender?