All Forum Posts by: Jason Lieberman

I own a seven unit garden style apartment building and I am looking for an introduction to a reliable handyman in the Greensboro, NC area. 

Thanks

I own several SFH on the east side of Cleveland and I am interested in meeting some real estate attorneys. Thanks.

Thank you for all of the feedback.  One thing that I have been considering in the analysis (which may not be necessary or accurate) is that aside form the positive cash flow, a tenant will be paying down the existing mortgage and increasing equity in the property at the rate of $500/month.  This doesn't include appreciation.  From a long term perspective it also seems attractive to accelerate the mortgage payments and shorten the years remaining to eventually have a property that I own free and clear that will cash flow upwards of $1,500/month.

Does any of this make sense or am I looking at it incorrectly?

I am having a hard time trying to analyze whether or not to sell or rent my primary residence.  Any help would be greatly appreciated.  The details are below:

Current Equity=roughly $100k

Monthly Payment=$1600 (includes mortgage, Insurance, taxes, and HOA)

Potential Rental Income=$2000-$2200/month

Potential Appreciation=minimal

Potential Expenses=New roof (within a few yrs), new A/C (within a few yrs), normal maintenance and upkeep

Potential opportunity=use the equity from the sale to reinvest in additional properties for my portfolio which will generate a 12-15% return/yr.

Other details=I initially put about $22k down when I purchased the house 6 yrs ago and I have paid down principle of about $25k.  Most of the equity is from appreciation due to the purchase price I bought it for.

The cash flow from renting the property would be nice , however there will be some major expenses coming up.  I am not sure what the best way to look at the investment is.  I am also receiving a tax benefit with my current loan.  I am not sure if it makes sense to sell and take my equity out for reinvestment or keep the property and use the cash flow and for reinvestment and have someone else pay down the loan and build my equity.

I am happy to answer any additional questions.  Any help would be great!

Thanks,

JL

I just purchased my second out-of-town rental property.  Both properties are single-family homes with long-term tenants.  Being that I am out of town and trying to avoid hiring a management company I am considering a buying a home warranty/service contract for the appliances, electrical, plumbing, etc.  

Has anybody had any experience with these type of contracts?  Any recommendations?

Thanks,

JL

@Jed Devine thanks for the help.  I have reached out to several lenders that would not allow the quitclaim to change the ownership but now that I know you have had success with lenders I will keep searching.  Thank you.

I am in the process of buying my 3rd rental property and several people have recommended putting the property into an LLC for asset protection. If I buy it in an LLC, financing becomes expensive, if I buy it in my own name, I get a better rate but I am more exposed. I am confused about how to structure this deal and future deals. Any suggestions?