All Forum Posts by: Leo Lopez

Hi everyone!

I’m currently working in two locations and want to know if I can qualify for a primary 30 year mortgage. I live in one city 60% of the year (have a house I rent out that covers the mortgage) and the other 40% where I have an apartment (I pay the rent). Can I get a 30 yr mortgage for another property in the city I spend 60% of my time in?

Thank you

Hi everyone!

So I have two rentals out in the market fully rented and they are 30yr mortgages under personal name. I now am moving to raising funds from debt investors and want to understand the best way to move the money to the LLC and start purchasing multi family units. Is there a guide in what to do and how to do this best? How do lenders determine if you can get the loan and what type of loan would it be? I've heard of portfolio loans and commercial loans but I'm not sure how to best approach this. Please let me know if any tips or advice it would be greatly appreciated.

Thank you!

Hi there everyone! I have a question and need some advice and expertise.

I purchased a property back in Feb of 2020 as a primary residence with a 30 year conventional mortgage. After one month due to covid I decided to rent it out due to my parents needing financial support. It's been rented ever since and I'm now almost one year into it and I want to move the property to an LLC. What is the best way to go about transferring the 30 year loan to an LLC. It's my understanding that the mortgage company can invoke the "due on call" clause and that's the last thing I want happening. What are your recommendations. I just want to make sure I don't have to pay the whole loan as soon as I tell them I'm renting the property in it and not living there.

Thank you in advance you all have helped me a ton so far!! I really appreciate it.

@Lucia Rushton yes that makes a lot of sense I love your perspective and thought process. Your first point I was actually curious about as well. So I looked up the land and it looks like the builder purchased from the local school district for about 10k. It’s not a big piece of land. So I assume they had more room in the budget to build the home. Yeah maybe it’s not Luxury it does have granite countertops in all the areas not 2inch thick. least I didn’t measure it.

@Steve K. Interesting why do you always buy the worst house in the best neighborhood would love your take on this. Yes the development has already started its estimated competition date is late 2021.

@Nicky Reader hey Nicky I was planning on living here. No way I would rent this one out unless it was above 2K a month. Unfortunately I absolutely do not think someone will find the neighborhood worth 2K a month even though the house is beautiful and plenty of space.

Hey guys,

I wanted some advice. I’m deciding on putting an offer down on a luxury property that is priced at 250k in the local dallas market. The only problem is that this house is in a neighborhood that has some crackheads and prostitutes one street away and a line of houses that are torn down and boarded up. The crime map shows that no serious crime have happened in the last two years. Other than that it’s a new build 2020 and is a super modern 3 bed 3 bath two story home 1900 square feet. It’s 5 minutes away from downtown and 3 minutes away from the Dallas Zoo and about 6 minutes away from a bustling new business district. Is this a good investment. I’m hoping to hold onto it for about 3-5 years and hoping it appreciates once the nearby highway deck park (think klyde warren park) is built in the neighborhood. What do you guys think? This would be the first house in the neighborhood that sells for above 150k. It already has 3 offers.

TLDR: buying a luxury house in a bad neighborhood should I invest in the property and hope it appreciates in the near future once developments have finished?

Thank you in advanced

Hi everyone!

Just completed the purchase of my first rental and spread is great! My question is what are some tips and advice to keep renters renting? I have a tenant who is very respectable clean and pays on time every month. I want to make sure he knows I value him and want to keep establishing a great relationship. What are some tips? I know I’ve heard in podcasts to give them gifts on Christmas and birthdays (not gift cards) but what are some other things I can do? I know that if I can provide excellent customer service and a great relationship they will be more inclined to stay.

Thank you

@Matt Moylan I really appreciate it Matt! Thank you so much

Hey guys,

Currently about to close on my home and I’m looking for home insurance. Does anyone have any experience with Lemonaid I’ve done some research and it seems too good to be true. Any helpful insights?

Thank you so much!