All Forum Posts by: John Lupo

  We currently own a small portfolio of properties. I would like to 1031 my half or sell the properties, If  brother does not want to sell what can be done.

  We are currently updating the operating agreements, I think this is a good time to add some language to the documents stating that if one partner wants to sell or 1031 he has the right.

  Is this even possible ? and what can be done in this situation where you have one partner wanting to sell and the other wanting to keep the properties as is.

  Are there any estate planning attorneys in the Los Angeles CA.  area I can reach out too.

 Hi  Rod 

Thanks for the reply, we been using guard and for some reason according to my current broker said since we haven't had any major improvements done to the property like new roof electrical or plumbing they will not cover this property anymore. So my agent gave us a quote of 6k from another non admitted carrier ( IAT insurance group) , NREIG being a non admitted company as well quote was 1,200.00 huge difference for 2  non admitted carriers, ( leaving to think differently about my current broker) or is this just the way property insurance is now,

Have you ever heard of being turned down for insurance just because we don't have any documented improvements in the the past 15 years ? the build is a all update date with circuit breakers and copper plumbing and has been seismic retrofitted.

Thanks rod

 Thank you greg i appreciate your quick reply, 

Hi Biggerpockets Community

     I was wondering if anybody  has used or is using NRIG for their multi family properties, I received a very low quote that seems to good to be true, I have a fully paid for property in Los Angeles Calif, and came across NRIG from the recommended vendors list here on Biggerpockets, I am doing some due diligence and found some old posts, but I am not getting a warm fuzzy feeling about them if anyone has some current experience with them I would love to hear from you or if you could recommend a good agent that would be great.

Thanks 

Thanks again Rob Beland you all ways have great answers, you have answered a question before for me and it was a great help

I am not sure if moving my current position I am in with a variable 400k equity line , into a fixed loan at 4.5 percent , I don't need the funds anymore because I used those funds for a down payment on a larger apartment building,

I am just wondering if I should keep the equity line, or is it a good idea to move into fixed loan for 30 years now while rates are still low,

Any feed back would be greatly appreciated

well it looks like I am taking the family business 5 apartment buildings and a strip mall, it's allot of properties for one person to manage glad there is a resource like bigger pockets , I don't think I could do it alone.

Thank you bigger pockets

Good Evening everyone. isn't bigger pockets the best thing to come around for newbie real estate investors almost feels like I am cheating,,, so many good people with good information.wish I would have found it sooner and now that I been here for about a month I don't feel so nervous and shy to ask questions.

I am trying to figure what would be the most profitable way to utilize some equity I have acquired . I have an 11 unit apartment building located in a rent control area on Los Angeles worth about 1.7 mil we owe 200k at 3 percent to family member, and We have another property worth about 525 k there is a Heloc of 365 k, and on our primary residence we owe about 565 k and it's worth about 1.7 mil .

My question is which would be the best loan to pay off first. Or would it be wise to pull money out of the primary residence to pay off Heloc ?

I have been working with one bank for 10 months ( we have been members of this bank for over 25 years ) the underwriters are so slow I have given up on them I have a credit score of 740 but I guess being self employed is the problem.

What I am trying to do is get a down payment to purchase more property , or possible something more creative basically I feel I have some equity buy I just don't have the knowledge yet to capitalize on the properties equity.

If anyone has any advice I would greatly appreciate it

Good Evening everyone. isn't bigger pockets the best thing to come around  for newbie real estate investors almost feels like I am cheating,,, so many good people with good information.wish I would have found it sooner and now that I been here for about a month I don't feel so nervous and shy to ask questions. 

I am trying to figure what would be the most profitable way to utilize some equity I have acquired . I have an 11 unit apartment building located  in a rent control area on Los Angeles worth about 1.7 mil  we owe 200k at 3 percent to family member, and We have another property worth about 525 k there is a Heloc of 365 k, and on our primary residence we owe about 565 k and it's worth about 1.7 mil .

My question is which would be the best loan to pay off first. Or would it be wise to pull money out of the primary residence to pay off Heloc ? 

I have been working with one bank for 10 months  ( we have been members of this bank for over 25 years )  the underwriters are so slow I have given up on them I have a credit score of 740 but I guess being self employed is the problem.

What I am trying to do is get a down payment to purchase more property , or possible something more creative basically I feel I have some equity buy I just don't have the knowledge yet to  capitalize on the properties equity.

If anyone has any advice I would greatly appreciate it