All Forum Posts by: Loren Clive

Easy . . . Hire a good accountant. 

In order for you to have an active real estate license, you must hang it with a broker. Interview brokers and see who will give you the best split.

Your HELOC rate is way too high. Try Charles Schwab or a local bank, should be closer to 5%.

What is the 50% rule cash flow?? Never used this accounting method.

Could you possibly get a duplex for the same price? This would up your cashflow

Don't give them rent back and give them notice. It's not worth it dealing with problem tenants when there are so many people out there who WILL pay rent on time. 

Title Guaranty, largest title company in the state. All the other companies do their title searches with TG's records. 

Happy investing!

@Peter Schuyler Just from an investment perspective, this is a great idea! College town properties can be very lucrative. 

I don't know about putting the property in your daughter's name. This could put her in a difficult position managing the property with her "friends." Consult your attorney: maybe a LLC could achieve the same results with less liability.

1925 is pretty old. Is it structurally sound? In good shape?

Repairs can add up quickly when you start tearing down walls. I'd be curious as to the construction/remodel dates on the comps . . . unless all houses in this area were built in the 20s.

Just because she purchased it for $36k in 1989 doesn't mean it's worth that now, especially if the property hasn't been maintained. 

@Dakota Soles Congratulations on your Air Force post! I'm from Conyers, GA and my brother joined the Air Force, retired early and took advantage of the VA loan to purchase two rental properties. (You can use the loan for more than one property, depending on the amount financed.) Anyhow, you're on the right track.

I'm on Maui over 11 years now, came with nothing now own a house and multiple rental properties. It gets easier the longer you're here. Feel free to reach out if you need anything. 

yes, all depends on what you buy it at

Do you presently own any real estate? Aside from your personal home?

If not, it will be much easier if you start small and acquire financing yourself for the first home. If you're successful, friends and family will approach you to get in on the action.

What you propose sounds like a Ponzi scheme.