All Forum Posts by: Maurice Smith

 sounds like that fortune builder rip off or something similar ... I almost got chorused into doing the same thing you mention but for 10k. Then i found bigger pockets and was like forget all that lol . I was actually fortunate enough  to be able attend about 5-6 of their mastermind meetups with a colleague of mines. He brought me on as his guess ( each paid member gets up to 3 guess). I later found out that everybody in that group paid around 20-30k just to join. i was approached by another guess who was trying to convince me to go half with her on the program (10k-10k) to be honest its  just a bunch of people from different back grounds ( agents, brokers, contractors , flippers, whole-sellers ..etc. all trying to network with each other It was a good experience to be around like minded people. They would give you access to a mentor if needed and other little extras , you get 2 calls a month i believe. some meetings we actually got to go walk houses that were being flipped by people in the class. it was a great experience dont get me wrong, but for 20-40k definitely not !  

Who is to say that he’s not though? Technically nobody can. It’s plenty more dishonest stuff going on behind closed doors in this game of real estate and you  know it. Is getting a property in your name then switching it to a LLc after the fact “ bad for business” answer is no because you get better rates that way.  people do these kind of things all day. So please spare me with your “dishonest” “bad for business” bs lol 

i only had to wait 6 months before i was able to refi, guess each lender is different you need my lender and i need your contractor cuz my freaking remodel took 4 months!! lol 

never heard anything about it either until a couple days ago , i attached all info in the link

oh ok you didnt make that clear in your post. even still, if you live in the same state as your property and its under 4 units you say  your living in one of the units ( job has to be within so many miles of property , don't quote me on that) . you can qualify  for owner occupied rates and down payments  vs you having to drop 20-25% and go through tougher financing guide lines. 

easy, dont get a arm... get a 30 or 15 instead. If its a owner occupied residential why are you even looking into an adjustable rate? especially when rates have been at a all time low for past couple months. You can always transfer tittle to your LLC later on. what liability protection are you worried about if this is not going to be an investment property?

Bp,

I was listening to a  Re pod cast a couple days ago. the topic was  Landlord Rent Guarantee Insurance.  My regular insurance policy covers rent loss, but only in the event of a catastrophic occurrence  ( fire , flood, etc). 

This insurance seems different though , they claim to guarantee your rent is paid even if your tenant defaults? My properties  are in  landlord friendly states were a evection process isnt really a problem ( 10- 30 days to get a tenant removed if the landlord files first in most cases ), but this could be major in states like CA were it can take up to 6 months to remove a non paying tenant. Not to mention the new rent control laws they passed that makes it harder now to evict a bad tenant. (applies to mfh owners  or sfh owned by big corp ) Why is this not being talked about?  Has any body heard of such a thing? is it legit? is it worth it?

@Terry Lao yes and no,  but only in henderson. prices were on the rise when i was buying . prices are to high for me right now it wouldnt make sence to me at this current moment unless i could somehow find a off market distressed value add. or if rents went up a good amount to keep up with the prices. however i do believe with more big companies moving to souther Nevada, that is likey to happen over the next few years or so.  how about you? any new investments ?