All Forum Posts by: Louise A.

@David Bell

A lot of us start in our personal names because we want the 30 year fixed rate money, and you can't sign on that in the name of an LLC. If you're starting with commercial loans, you can buy in an LLC. Protection is great, but so are great loan terms!

@Maurice Mugabo

I vote to keep it.  Have you read The Millionaire Real Estate Investor by Gary Keller?  Basically all the investors he spoke to said they wished they had held on to property rather than selling it.  The more real estate you own, the bigger the bottom line on your balance sheet.  

Just my two cents - I'm sure that others could make a great argument for selling it too! 

@David Bell

Welcome to commercial lending.  Isn't it awful?  We just shifted last year to commercial apartments and I'm still mourning the loss of my 30 year fixed interest rates.  

Is there a reason you can't use the standard 30 year fixed residential loan program?  That's the best money out there.  

@Mukesh Yadav

I second (or third) Jynell.  She's one of my attorneys and I've been very pleased with her pricing structure and ability to forecast potential issues in contracts that I didn't consider.  She was a great addition to my team.  

@Tyler Jahnke

Second vote for scarily inexpensive. I pay much more than that on my smaller properties, and I am not paying top dollar for service in Indy.  

I feel pretty strongly that PM is not where we should try to save money.  If my properties are well managed, and my tenants are taken care of, I'll happily spend more.  They allow your asset to increase in value. 

@Don Harmon

I just bought something in Franklin!  Not sure who to recommend, but you might reach out to @Shawn Holsapple.  He's from the south side of the city and hires lots of guys....  

@Bradley Lyons

Hey!  Welcome...  Come to our RE meetings!  CIREIA, INREIA, and the Alpine meetup.  It would be great to meet you!  I have my license for exactly the reason you stated.  Its a very handy thing to have.  

@Javier Pagan

If you're still living in the property, get a HELOC on the property to get to that equity (95% LTV). Then go find a great investment property! I've got HELOCs on rental properties and properties I've house hacked. As long as you have a plan to pay back the money, you're safe. If you want to draw the money long term, use a cash out refi. That way the rate is fixed. Good luck!

@Chris M.

I've done house hacking and rehab simultaneously but never with roommates (except my unwilling husband!).  
Definitely do not rehab while you have people paying you rent under the same roof.  A different unit is fine as long as you explain the situation, but any tenant is going to want a refund if you're tearing up the place when they're paying you to live there! 

Good luck!  

@Account Closed

Don't give up!  I've put the wrong numbers into my spreadsheet so many times only to be disappointed by the facts!  House hacking is awesome and its great to see a newbie putting in realistic numbers for vacancy, repairs and cap ex.  You're way ahead of where I was when I got started!  Good luck....