All Forum Posts by: Tim Klotz

I am am a relativelt new investor. I have 3 properties, I recently refinanced a property into my LLC. I currently have the other two titled in my name personally. My intentions are to eventually move my other properties to the LLC, however they are financed and I have not yet decided how to go about getting it done, my question is, right now I have my personal checking account, my rental checking acct, and now my LLC checking acct, I would like to dump the rental checking acct and just run everything through the LLC checking acct. what do you all think?

Thanks everyone for your help, the problem solved itself. My prospects decided to go with another one of my houses (they had their mind set on this one), and my tenant finished moving out, all in the same day. Although she was peeved at me because she didnt get any deposit back. At any rate, I learned my lesson, post 3 day ASAP, follow up with eviction filing, no more working with tenants to try and help them out. Well thanks again everyone

-Tim

I have a tenant that wont move, completly. Feb 2nd tenant called and told me that they would be out 2/15. 1yr Lease expires 3/1 They still owe the rest of January's rent, as well as Feb rent. I did not evict them, because up until they told me they were leaving, they were working with me on the rent. They started moving out, and the majority of their stuff is out, however there is still a lot of stuff they havent moved yet. They are not staying there. I have tried contacting them at their last known phone number, no answer, and no return call.

My problem is I have out of state prospects, who have already passed my screening, with flying colors, who need housing by 3/2. Before they agree to take house, they want to see it, understandably so. They want pictures, and they have a relative who would be coming by to look in person. But I cant show it or get pictures in its current condition, plus do I have the right to access the property to show it, or get pictures, or are they still in possession of it, requiring advanced notice? again I cant seem to get ahold of them, I am running the risk of losing some potential good tenants because of this, they are running out of time to secure housing, any advice? By the way This is in Canton, Ohio

Ohio

I bout my first property in July, using private money to aquire, and rehab.
I have comps in the high 60's to low 70's, i will have no more than 52000
total in it, i would like a cash out refi when the rehab is complete for 55000 (approx 78% LTV) to pay off the private investor, and cash out. my credit is about 600-620. How difficult will it be to refi w/ my credit and 78%LTV?

Hello all, I have been reading here a while now, this is my first post. I am currently trying to buy the property I live in currently. It is a duplex with two mobile home lots also on the lot, I have worked out the issue with the mobile homes so they are not the problem, however the duplex is currently being occupied by me, and a business. the duplex was previously used as 100% residential, and is still outfitted for full residential. is this gonna be considered commercial. I live in an urban area that does not have zoning, and as far as taxes it is considered commercial, but i understand that any investment property (non-Lived in) is considered commercial as far as taxes. What do you all think? sorry for being long winded, I am just trying to head off any potential questions.

Thanks!

-Tim