All Forum Posts by: Jacob Michal

Okay so I’m curious who all in here has lead managers and Aqusitions and who in here just has straight Acquisitions who follow up with the leads to.? Why do you choose the way you do that and why do you think it’s effective for you that way.?

@Joe Splitrock Okay thank you for clarifying. I was using the wrong term.! So I should be good as long as it Is a fixed term.?

@Joe Splitrock yeah I’ve done subject to’s before but I’m wondering if they can call a loan due you get In you’re name because of a economy crash

@Kris L. So basically if I refinance a property at the bank they can’t call the loan due if my payments are up to date unless I get a house transferred to me and the bank calls the loan due because transfer of ownership.?

So as I get into the journey of learning more about rentals and trying to hold properties instead of only wholesale them. One thing me and a good friend of mine were talking about is how there is a possible downturn (Not saying it’s going to happen I have no clue if it will or not) but we were talking about banks calling loans due so I’m just trying to brainstorm on how to counteract that and make sure your rentals are recession proof and able to have a exit strategy if banks do start calling notes due on what your plan would be.? Any insight would help .

@Kevin Allen don’t quote me but I think if you have 3 rentals and under you don’t have to follow the fair housing act laws .(read from mike butlers book) but it’s still good to do Incase someone tries to sue you etc you won’t spend money on court cases and lawyers etc

@Adam Higginbotham 90k for a full gut .? On 1200 sq ft Holy cow what market / contractor do you use

@Adam Higginbotham oops thought it said 50k that’s my bad yea with 90k repairs that’s no room . How big was this house for it to be a 90k job

@Adam Higginbotham at 130 your buying at 75% of arv how is that very off.? Seasoned investors buy at 75-80% all the time

@Colleen Cupp try a proactive approach like calling.!