All Forum Posts by: Kody Kilshaw

Long story short the post office closed my PO Box without my knowledge and gave ownership to someone else.  They assured me any mail associated with my old PO Box number was removed and in a bin needing to be sorted.  If the mail was not priority mail then it could take up to 6 months to process and return to sender.  My tenants never send rent priority, so I let them know to cancel the checks and resend to my new PO Box number.  One of the tenants notified me that the original rent check had been cashed (they sent me screen shots of the check processed from their online bank system).  I'm thinking the new owner of my old PO Box number actually did receive one of my rent checks and then cashed it.  They did not endorse the back of the check.  My tenant, who has been with me for three years now, is going to his bank to try to find out who deposited/cashed the check.  if they cashed it then I don't think I have a shot of tracking them down, but if they deposited it then there may be some leverage.  

Has anyone run into a similar situation or have any advice?  

*Please disregard the subject typo.

The reason I am looking at a 4 plex is its an entry into multi-family properties without being subject to commercial lending. I'll need an equity partner because the deal is not as attractive if I have to leverage half of the down payment/closing costs. Which I'd have to do if I went at the deal solo. I've found an equity partner, but now we need to figure out the best way to structure the deal. Can we purchase the property through a equally owned LLC without being subject to commercial lending, or if we decide to go the LLC route do we have to get a commercial loan? If we'd have to get a commercial loan using an LLC, what other options are there to share equity while using a residential loan?

All thoughts/advice are appreciated.  Thanks in advance.  

Hey Jonatas - I live in Houston and grew up right new Humble.  I have a couple rental properties in Kingwood.  I'm interested to hear more about the property in Baytown.  Have you already purchased it?  Sounds like you got it for $33k?