All Forum Posts by: Jeremiah House

 @Kelly O'Keefe could you provide your Airbnb resource to me as well? I'm meeting with my accountant now.

@Frank Hinck no frustration in the slightest. We are best friends. We are structuring our PA currently and this is why I’m asking the question. I want to know what SOPs are.

Hello BP Fam! I have a 2-member LLC here and I provide all of the Property Management and Accounting/Bookkeeping/Tax for the LLC. My Partner occasionally will do some of the "manual labor" things that need to be done randomly for upkeep, but we mostly farm that out. My question is how to value the services I provide to the business.What is a fair price to charge either on a monthly basis for these services or a % of rent for these services? We currently only have 1 property but are in the market for more currently so will be adding more properties soon.

@Leah V. I do have dark brown LVT and brown cabinets. Why would the grey not be good?

I'm getting ready to have my 3 bedroom / 2 bath upper-scale house painted. This house was newly built in 2010 and needs freshening up. My painter is telling me that he recommends Sherwin Williams Cashmere Flat Enamel paint. I've typically always heard that eggshell is best for durability. What brand and type (eggshell, enamel, latex, etc) paint do you guys use? 

@John Minnix Michael Kinzer is excellent. Tell him I sent ya

Greetings everyone! I am a new investor who has 1 property currently for 10 years. My business partner and I are about to refinance this property and get equity out to start purchasing more properties and accelerate our growth. I'm looking for any and all suggestions you can offer---but specifically I would like help on the following:

1. 1) We are currently on a 15yr investment loan at 3.325. We have been quoted another 15yr at 3.125 with $55k out. Should we do this? Or should we move to a 30yr that increases our cashflow but at a higher rate (currently we've been quoted at 4.125% for 30yr) with the $55k. I'm really unsure of how to balance cashflow vs lower interest rates. 

1. 2) We plan on taking this $55k and leveraging it into being able to buy $275k - $366k (15-20% downpayment of the $55k) worth of loans to purchase properties. Should we just find properties and go to banks as we find them to close (closing costs on each property) or should we seek out a line of credit or something to pay cash for upfront quickly and then let banks put those houses as collateral as we purchase these houses. I'm really seeking out the best ways to finance the purchase of these houses without putting a lot of cash on the table. Best practices you use is very much appreciated.

Thank you for your time and help. 

I currently have 1 Property that I own with another buddy of mine that we bought together in college but we are wanting to start expanding our little empire. We've come up with the idea of something of a "localized REIT." We are wanting to find 4 - 6 buddies that all want to throw in $25,000 or so and raise $100,000 - $150,000 to go out and put 20% down on $500,000 - $750,000 worth of properties (after creating an LLC). My question is has anyone done this in there area? Do you consider this a good idea? What should we do? What shouldn't we do?

All insights welcomed and appreciated.