All Forum Posts by: Jim Ziccarelli

Hi,

My business partner and I are getting ready to cash out refinance one of our rental properties. I'm new to DSCR loans and I was wondering if anyone would be able to help? The property is a SFR. How long of a process does it normally take? What are rates typically? Who has the best loans/terms currently available? I haven't had any luck finding any DSCR Brokers while trying to search around.

Thank you for the help!

Jim

Hi Everyone,

I'm looking into getting myself a second home. A little cabin in the woods within an hour from my house. I feel as though it can make a good little STR on days I'm not there. Does anyone know anything about contracts or how to keep your house safe from damages and what not by a contract if not going through a site like AirBnB or VRBO?

Thanks!

Does anyone live around Buffalo NY and have an accountant they use that specializes in real estate investing? I have a great accountant but I'm always worried I'm giving away more money than I need to be in comparison to one that knows more of the ins and outs specific to real estate investing. 

Hi,

I currently own two 4-unit homes and live in 1 of the units. Of the home I do not live in, I would like to create an LLC and get transfer the home from the mortgage under my personal name into the LLC with the intention of later selling the home with a 1031 exchange to purchase a larger investment property. I want the current one under the LLC so that way when I perform the 1031 and have the new property under the LLC since you can't change ownership unless there's a way to do that somehow. I would also consider even putting the house I live in under the LLC as well even though I don't plan on selling it anytime soon but do plan on moving out of there within the next year. Does anyone know how to go about getting my newly formed LLC to be able to take over my current mortgages or if there's a way to transfer the benefits of a 1031 from my name to an LLC at the time of a purchase?

I have 2 multi-unit income properties that I own, one of which I live in the units. I'm looking into switching both in LLC's instead of them being under my name to protect my other assets. Once that's done, do I still need the houses to have landlord insurance or is there other coverage i need? Also, is it worth forming a s-corp afterwards for both LLC's to be under afterwards?

@Nikolas Ferreira

How has your overall experience with erentpayment so far for the first few months? I have (2) 4-unit houses that I'm looking into making the transition into online rent collection? 

Has anyone had any issues with tenants with making the additional payment to pay online or do you commonly pay the service and write off the expenses?

After hearing everything I've talked to my insurance agent and they wouldn't cover it due it not resulting from any evident damage. Luckily, I've found a roofer to do it at a great price that i'll easily use for any and all of my roofing needs. Thank you everyone for all the help on this one! Greatly appreciated and for my first post in Bigger Pockets, very happy for all the experienced help. I want to learn to be the best owner/property manager I can be and able to sustain my living off of our investments! Thanks again!

Thanks! I'll have to see if they can figure something out in the meantime.

I have a tenant who's shower floor is leaking into the basement. The repair is going to include remove existing tile floor, moving drain, new floor pitch and install of tiles. The process is going to take a 4-7 days due to proper drying. How do I make these repairs if they'll have no where to shower during the repair process? 

Our roof is beginning to leak on a house we purchased just a year ago. Looks like there's no flashing along the side and also needs some areas to be re-shingled. Is this something I can/should claim through homeowners or just pay a contractor/handyman to complete?