All Forum Posts by: Jimmy Warr

i spoke with an investment funding group. They have offered to complete the LLC at double the cost than what it would take me to process it. "to be approved for their funds" I thought that was really odd. Knowing that I can file them myself, I was really questioning rather they could do something that I can't.

I know you can file for a LLC on your own, but I do not understand why several people are charging obscene amounts to file them for you? Are they doing something different than what you can do yourself ? Also I know in TN it's around $300, do that include it being recorded and is there anything else a newbie should know before moving forward with doing the LLC ?

I have a triplex with an estimated as is value of $45,000. I have a mortgage of $14,000 left. 1 Unit is already rented. I am seeking $20,000 to complete the rehab on the remaining 2units. I do have a W-2 job that will cover the payment. ARV is estimated to be $65,000

I am open to a cash-out refinance, a 2nd mortgage loan, a separate individual loan, etc. I am also open to any advice that you can give. Needing help in Tennessee 

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@sagar How did the loan go ?

This certainly helps me as well. I'm in. similar situation in the state of Tennessee.

In Memphis TN, I have owned a small triplex for a little over one year now. Do you know of any local banks that would re-finance this property or that would do a 1031 exchange for A larger building. Though my property is worth less than $70,000?

I did actually. It was listed as "OK residential leases" I made a few changes and hopefully I'll be set. Sadly, I had to fire two property firms. So I'm on my own... no one will take care of my properties like me... lol I am screening for tenants. Does the half-decent applicants have a hiding spot ? 🤔

Awesome, I'll do that now. Thank you

In Memphis TN, Does anyone have a great rental lease that I can use ?

I totally agree. I am now on my 2nd property Managment team. The issue i have ran across was finding someone that had my best interest. The property has literally been ready since January of this year, the 1st company sat on it and ignored several potential tenants. (Which I take blame for, since I allowed it for so long) Needless to say I ended the relationship with them and found a better company in May. Now we are having several showings but I need a solid tenant. Asap.