All Forum Posts by: Lauren Samford

 Keep your head up in your search! That's definitely the right first step! It took a while and was A LOT of paperwork but worth it to get into another property given we didn't have tons of capital. In speaking with fellow investors they agreed, if you're willing to owner occupy and the numbers work, it's a great way to get in without having a ton of capital. A lot of early investors do flips to build capital but we aren't ready for that yet. Now that we've closed I'm adjusting to having 3 mortgages and managing the operations/expenses... baby steps. 

Just wanted to let everyone who responded know the latest update because I'm just PROUD and THANKFUL for this community. We decided to furnish and try MTR and WOW the demand was incredible, we cash flow well over $1500/mo! We moved into an apartment while we shopped for the next property, and we took out a HELOC and used for a DP on multi-family! So that one decision to rent gave us the leverage we needed to buy the next property and generate multiple streams of income. The next property may not cash flow as well in the beginning but the zoning and location is gold. I think over time buy & hold is the way to go, and I can't believe how far we've come in only 8 months! Thank you to everyone who weighed in and helped us get educated on leverage! Tax season will be telling now :) For anyone still on the fence, what did you decide and how did it work out for you?

 Does anyone have guidance as well regarding licensing required to do this? Ultimately I just want to avoid having my personal name on a lease but not sure it matters. 

All good information. I'm reading this back and forth and still left with the question - what to do to protect assets if I have a conventional loan? Do I bother with transferring to an LLC or just pay for high amount of liability insurance? I don't want to refinance out of conventional as my rate is 3%.

I recently formed an LLC for property management, as I intend to get into the business of STR arbitrage. I'm also looking to expand my investor portfolio, and recently turned my home into a rental. The lease agreement with my tenant is through my property management company. My attorney recommended I put the home in my LLC. However, I do not want to put the asset in an LLC that is intending to do business. Especially since I intend to expand my business with arbitrage and want to protect myself and my assets. I've heard of creating separate LLCs for each property, or creating a holding company for the assets. Anyone have this type of setup and can give me advice? I am very new to the concept of a holding company.

RE Investors - I went through 2 months of paperwork to finally get approved for a $100k HELOC on my only property that I recently turned into a mid-term rental. I got notice today from the bank (Navy Federal Credit Union) that I have to close in the next 2 weeks and the notary MUST meet us to close at the physical property address. But I have Airbnb tenants in there during that time!! I was so frustrated I walked away and realized this is not the right banking institution for me. I mean, how do investors who are traveling and have properties around the globe with tenants in them show up at the physical property address to close on a HELOC for 2 hours with a notary public. Is this for real? In any case, I need recommendations of investor-friendly banks so I can do this all over again... any guidance is much appreciated!!

Any landlords also self-manage their properties through an LLC? I set up a property management company this year and intend to get into the business of property management. But I wanted to start with my house first. The title/deed on our home is still in mine/my husband's name. But I want to manage the property through my LLC.

Eventually I can transfer the property to my LLC but haven't done that yet. I have applicants who are ready to sign a lease.

Can I put the landlord as my LLC on the lease? I want to keep my personal name off the lease for liability reasons clearly. Anyone in this situation, would like a 5-minute phone call on this if you can help!

I was able to get the Schufa score, thank you for recommending this! However I can’t interpret, can you assist?  

I have applicants who can show income statements/proof of income, clean background and want to sign a year lease on my house but they are from Germany and moving to the US. So they don’t have credit history / report. I have never done this before and am a new landlord. Should I be cautious about this? They are willing to pay a very high rent for us that would be excellent for cash flow.