All Forum Posts by: Jeff Sadosky

Real estate holdings/investments have grown enough and are complex enough that I'm not feeling comfortable with my existing tax team, want to find someone in the DC or Northern Virginia area who has a bit more experience/expertise. Appreciate any and all recommendations. Thanks

To close the loop on this...ended up using Pentagon Federal Credit Union, while they moved slowly given everyone trying to refi, things worked out well, have a HELOC w a solid rate I can now access. Thanks everyone for the guidance.

Trying to check in with Northern Virginia (Arlington, Falls Church, Alexandria, Fairfax, etc) or Washington DC/Montgomery county investors to see if you guys had any recommendations on DC area local banks that will do HELOCs on rental properties, the first four or five that I've called have been more than willing to do so on a vacation house or a primary residence, but not on a rental...any ideas are appreciated. 

Thanks @Federico Gutierrez, @Rick Prudhomme and @James Wise  @Aaron Westerburg, likely in touch soon. 

Can anyone recommend a Cleveland area (east side) home inspector that can work well with an out of state investor?

Thanks in advance for any thoughts/leads.

New to turnkey investing and trying to see if it is right to assume that the list price named by the turnkey providers is as negotiable as it would be for any other real estate listing? 

Take this for what it's worth as I have a tendency to push the limits too far, but you're in the drivers seat here, ask for more. They've tipped their hand, they want the property bad. Is it an investor or a homeowner? That will impact how high they're willing to go. Don't forget when you're calculating profit...You have to find a new place, pay to move into that new place, and if you have closed on the property, gains will be taxed at a higher rate than if you did the flip over two years.

****not a lawyer*** With that disclaimer stated, common sense tells me that your lack of a lease means you have no real legal leg to stand on...no lease puts you in a month to month scenario. So my read would be that she wouldn't need to evict you, she could just tell you that she is no longer renting the room at the end of a month. I'd imagine she'd give you some notice. The lack of a lease means you have nothing to defend yourself with. Again I'm not a lawyer

Worst part about month to month is only having one month to market and fill the place if/when renter leaves. Whether or not you ask renter to pay a premium, might be worth writing lease to force 2-3 month notice so you have some time to replace tenant.

Do some digging into the leading prop management companies in the area that cater to students and inquire into pricing for different student housing options. That shld get you some information on rent prices. Most of them will also tell you they lease from August 1 on year round leases, so the students pay for summer whether or not they're staying for the summer.