All Forum Posts by: Jerry Jones

Lisa,
If you could not finance with the conventional loan because of no job. I think the apartment building is the way to go. As long as the building itself qualifies, it's not hard to get commerical loan over half million. However, you might need to start right away to build up your investor record. As most of the lender would like to see 2 years tax return showing that you are an experienced RE investor.

I remember I saw a topic like" What would you do with $50K IRA account" started by Josh, but could not find it anymore.

I am thinking about rolling over my old not performing 401K into a Roth IRA for a better return and diversify. Ideally I want to be a passive investor for this account. What options do I have and what's the expected return for each option?
Here is what I got right now:
1. work as private lender. There are some government contract project which offers 17.88% rate with $50K minimum investment.
2. buy tax lien using some tax lien investing company. I was recommended the company called pip-west, which focuses on the tax lien in Illionous and claimesa 24%~36% return but they charge 6% setup fee at beginning and 2% continuous fee for all the investment fund.

Is there any other reputable tax-lien company with lower fees?

Also, is there any other/better options availble?

Thanks very much for your feedback

Jerry

About $360 for SFR in Phoenix and Las Vegas with central national.
About $800 for 4plex in phoenix with traveler.
$1000 deductible, coverage is about $100/sqrt for rebuilt. $300K liability.

Hi John,
We bought a REO 3bed SFR in Kirkland last year. The purchase price is about $225K, but it is rented only for $1500. If the high property tax in Texas is what hold back the appreciation, the property tax in seattle area is killing the cash flow for sure. The property tax is pretty high, $3.8K per year. Besides, the house is old and insurance is expensive once you include the earth quake coverage. So, from my own experience, Seattle is definitely not a good market if you are pursuing the cash flow. We will definitely get out of the Seattle market once we see some significant appreciate, if there will be any.

Hi Robert,
What's the purchase price for your properties which can be rented for $1400~$1800? If you could recommend some good real estate agent or wholesaler in the north Dallas area, that would be awesome.
I am looking to buy some SFRs with price range of $100K~$150K. My goal is to achieve at least 15% cash on cash rate with 25% down and 30 year conventional loan. Do you think it's easy to find such properties?

Welcome, Bruce.

I totally agree with what HK. I am a newbie here and everyone on BO keeps using 50% rule for investment evaluation. I do believe it's a good guidance. The question is, where are the deals which meet the 50% rule? Living in CA, I so far can't even find anything with a positive "rent - PITI"!
So wholesalers on the BP, please do contact me when you have anything that meets the 50% rule. Show me the 50% properties! :D

Hi, for those of you have multiple properties in different states, do you setup a LLC for each state?
I have rentals in CA, WA and AZ and I am thinking about set up a LLC for asset protection and I really don't like the hassal of having too many LLCs.
Considering the LLC setting up is quite expensive $800/year here in CA, I am wondering if I can set up a LLC in either WA or AZ and put all 3 rentals in that LLC?
thanks in advance for your advice!

Hi,
I live in CA and also have a rental here. I got 1M umbrella insurance with farmers for both my residence and the rental in CA.
I bought two more rental properties this year. One is in WA and the other one in AZ. The farmers tells me that I can not add the properties from other states into my 1M umbrella insurance.
I am wondering if any of you could recommand an insurance company which allows you to do that? Thanks in advance.

guys, thanks very much for your reply.
I just spoke to their landlord, said that they have never be late with their rent in the past 3 years.
As the couple do seem to be in need for a home, I may consider renting to them, even though I have many others are interested in this property as well. It's just some gut feeling that I may be able to trust them as they have been upfront with me about their situation.
We wil see...
thanks again for all your advise, very much appreciated it.