All Forum Posts by: Lemanuel Turnipseed

I would like to buy property in another country and would like to know the exactly steps on doing so? Also, how do you trust contractors, collecting rent, and, maintenance being done?

Thanks….

How can I do short-term rentals in New Orleans, if I already have a homestead exemption on another property?

Thanks, 

Lemanuel

@Ronald Rohde

This is my only rental property. Just trying to see what else is out there in financing

Lemanuel.

My only property, is a 3 bed/1.5 bath single family home (SFH), under my LLC. My interest rate is a five year balloon loan at 5.9% with a final payment of $33,258.21 due on October 5, 2023.

Total collateral value: $92,000

Original Note: $64,150

Payoff: $52,794.67

Pledge LTV: 57.14%

I’m with a local bank, but wanted to use if I could get a lower interest rate and a 30 year loan in my name? Would this be wise? All advice and financial strategies are welcomed.

I also want to use the equity in this property for my next SFH or possibly multi-plex.....

Lemanuel

@Jacob Sampson

Thank you for your reply. However, The bank stated after the five years the loan would balloon for a term 15 years. I would like a fixed rate for 30 years.

@Andrew Simms thank you. I will start watching the webinars.

@Leo Varnavas thank you

My only property, is a 3 bed/1.5 bath single family home (SFH), under my LLC. My interest rate is a five year balloon loan at 5.9% with a final payment of $33,258.21 due on October 5, 2023.

Total collateral value: $92,000

Original Note: $64,150

Payoff: $52,794.67

Pledge LTV: 57.14%

I’m with a local bank, but wanted to use if I could get a lower interest rate and a 30 year loan in my name? Would this be wise? All advice and financial strategies are welcomed.

I also want to use the equity in this property for my next SFH or possibly multi-plex.....

Lemanuel

I’ve been told when evaluating properties to check the numbers to see if the property is a good investment or not. Can someone give me clear and precise step by step instructions on how to evaluate a property. Can you please include the step by step on: single family homes and multi-family homes?  
I am not a BiggerPockets Pro member YET, but started looking at the real property calculator. Or is the Real property calculator all I need to use to evaluate properties?
My goal is to be able to initially see a property, do the numbers (calculations) and then go for it or pass on it...

Thank you. 

@Braden Smith Thanks again. Are the duplexes in high demand as well? Can I do a 3.5% FHA on a duplex? If so, as a realtor, can you send me some duplexes in a good area?