All Forum Posts by: Ivan Palagniuk

Hi Marcus, the property was located in the gra-ram in Milwaukee .They asked 350 ,the current rents were 700 (4 units) which is way below market, I found couple properties that was sold in the past 1-6 months in the same area ,they almost the same but the average sold price was 270-300. They were justifying their price based on the future  rents I will have (average price is 850)

Like you said people that have their property free and clear have a lot more time to test waters and can manipulate 

@Nick Barlow did you buy your properties in lllc name or transferred them afterwords? Just found out that a Fannie Mae allows to transfer to LLC since 2016 without forcing due on sale clause.

Unfortunately 3 out of my 4 aren’t Fannie Mae’s

@Son Dang thanks

@Megan Brooks hi, I know the banks I have mortgages with, can’t find that post

@Bruce Lynn hi,thanks for response. All of my banks said no. Did you do it without their permission? I was trying explaining them that I will still be obligated to pay it but it didn’t work out

@Jingwen Dunford

Hi,thanks for response. I actually was trying to call directly to insurers like progressive and geico , they included a landlord package in the premiums but it all came out very pricy at the end , I’ve gotten an advice from people on this forum , to actually call an independent agents that can shop around for me .

Those insurance companies you’re with , do they have a good reputation in paying their claims ?

Also, do you have an umbrella insurance ?

I agree ,I’ve actually read stories on forums where people had major damages to their properties and insurance weren’t willing to pay ,it’s very important to have a reliable insurance company when a problem arises

Thanks for advice.

I agree that the market got to a point where the prices are so high and seller’s want to sell their property for a lot more than what they are  really worth, just had a talk with an owner of 4 units property found the deal off market but they just have some unrealistic number and not willing to negotiate, also agree that we need to solely rely upon our own information about getting property it is good to ask for property performa but it’s crucial to do own research 

@David Barnett you are so right at this,I’m trying to know everything instead of delegating the job to professionals and be focused more on finding right homes to buy. I’m actually not to far away from where you buying your real estate, I’m from Milwaukee .