All Forum Posts by: Javier Campanini

I agree with the analysis in the thread so far, pretty spot on from my experience.

It's still possible to find a good BRRR deal, it just means you're looking longer and making some creative changes yourself (adding a bedroom or bathroom, enclosing in extra sqft).

I still like investing here, even if it means it's harder to deals.

I've worked with 2 different property management companies. The first wanted a 2 year contract to manage a property (it had a penalty if you decided to leave early). The second mentioned the shortest lease they do is 7 months.

Maybe a property management company that deals short term rentals (airbnb, etc.) is a good fit?

I've also had a lot of success with Ameris Bank, with conventional loans under personal names. I've also done a portfolio loan with them as well. Overall, great experience. Message me if you'd like the contact info of the loan officer.

I'm interested in adding some new construction homes to my portfolio here in Jacksonville. I was able to find one provider so far, but they don't have any inventory in the Jacksonville area at this time: Southern Impression Homes (https://southernimpressionhome...)

Do you know of any other builders that have a built-for-renting product?

My main goals for a new construction home are:

• Cash flows from day 1 (assuming market rent)
• Low/No maintenance (at least for the first handful of years)
• In a neighborhood with a good chance for long term appreciation

Thanks!

We have a mix of ownership at the moment: 2 of them are owned by the LLC, the rest are titled to a single partner.

We also have a mix of financial instruments at play: 3 of them titled to a single partner have a mortgage with a bank, 1 of the homes owned by the LLC has a private loan, and the last 1 owned by the LLC is all-cash at the moment.

I'm less interested in asset protection from the LLC since we're using Umbrella insurance as our safety net.

My main concern is filing taxes properly and accurately (attributing gains and losses to each partner correctly), especially since we started down only-LLC ownership and transitioned part way to personal-and-LLC ownership of our properties. We have good tracking/books, just unclear of how that lines up with tax filing (do we use K1s, etc.).

Does anyone have a good recommendation for a CPA/tax-preparer? I'm working with a partner, and we're up to 5 houses. I'd like to get some professional input on how we've been doing things, see if there's mistakes to fix or improvements to be made.

Thanks in advance!

Hello,

I have a property manager (PM) for one of my properties that has a dropbox for tenants to drop off their rent. They recently had their dropbox compromised and a tenant's $500 money order (MO) was stolen. They say they've repaired and improved the dropbox. The tenant is talking to Western Union to find out more info about the stolen MO.

My questions are:

1. What sort of responsibility does a PM have to ensuring a dropbox is secure?
2. If a dropbox is compromised, should late fees be applied?
3. What sort of information could the tenant present that would change the resulting action of the PM/myself?
4. Has this happened to anyone else?

Thank you!

I used Elite Title & Escrow, which I found through my bank. They were able to draw up the paperwork and get everything closed out easily. I closed a bank mortgage and a private mortgage with them, and they've been a pleasure to work with - easy to contact, great email communication.

http://www.etescrow.com/

Thanks, everyone! I appreciate all the leads! :)

I have a friend that's interested in making a loan to my LLC, and having the loan backed by a property the LLC owns. I believe this requires a mortgage to be filed with the county, and either a lawyer or title company needs to be involved.

I'm looking for a referral for either one, to help move forward with the loan, as well as more in the future.

Thank you,
Javier Campanini