All Forum Posts by: Lamont Booth

Yes I agree with the LLC being more impersonal and thanks for the LLC advise as well!

Hey@Michael Baum the LLC is how I am purchasing my investment properties. I am using the DSCR loan which is the best loan option for me right now.

Hi John. Absolutely I would not want to be sued. I was looking at it from the perspective of the guest. Would they feel more of a pleasant experience while communicating with a business or the actually owners themselves?

Hi John. Absolutely I would not want to be sued. I was looking at it from the perspective of the guest. Would they feel more of a pleasant experience while communicating with a business or the actually owners themselves?

I am in the process of purchasing my first STR in Pensacola Florida and I plan to list the property on AIRBNB & VRBO. The property will be held in my LLC . Should I have my Host info as my LLC name or in my personal name? Thanks!

Looking to get some advise on how to successfully use my  real estate license to buy my own investment properties. I am a newly licensed realtor who has a dual career also as an EMT. In addition I self manage two rental properties of my own.

Thanks for the help.

I recently went to my bank where I keep my tenants accounts at to obtain a letter stating the amount of the security deposit ,the banks name and account number that I provide my tenants with. When I inquired about this letter I was told by the banker that I needed to have a 1099 form filled out with my tenants information. The reason I was told was that the savings account that i was using to hold my tenants security deposit in needed to be transferred to a Tenant Security Deposit account with the tenants name on the account. My question.Is a separate interest bearing savings account sufficient enough for holding a tenant security deposit or do I need to have a Tenant Security Deposit(as per my bank) in the tenants name? What are the pros and cons of each account?

The cabinets are the original cabinets and i would like to upgrade just in case I decide to sell in the near future. However I do plan on using some of the money towards my next rental purchase. Thanks for the advise.

I recently received a free Home Loan Check Up analysis from my mortgage company . This is an opportunity for the lender to inform me of what offers I have in regards to refinancing or pulling out of equity. One of the offers is as follows: cash out refi totaling $10,000 -closing fees =$7000. New interest rate of 4.8% (currently at 5.5%) bringing my current mortgage payment from $708 to $685.This actually increases my monthly profit. The property is  a 2 story townhouse (1986) that I now haved owned and is tenant occupied by the same tenant since 2010. Current loan balance is a little over $65,000 down from $82,000 purchase price ($10,000 down payment). I know this is not a lot of equity however my plan is to install new kitchen cabinets and some other minor renovations at the property along with paying off the properties credit card ($1100). Any input or advise will be appreciated.Thanks in advance.