All Forum Posts by: Murali Ponnaluri

Awesome...Thanks @Kevin Sobilo

Hello,

Forgive my ignorance, I tried looking this up and couldn't find any details on this answer. I currently own a duplex in NH, and I'm looking to do a HELOC on the property and pull that money to reinvest in an STR. However, the current mortgage on that home is at 2.99% done in 2020 under a traditional mortgage. If I do a third party bank that can do the HELOC -- am I triggering somewhere where either the current mortgage holder or the bank offeriing the HELOC would say that this is in an LLC and will trigger the "Due on Sale Clause" ?

Just a few months ago, we did estate planning and moved the duplex into the LLC. So far, the mortgage company has not said anything at this point. That all being said, am I being paranoid in doing this HELOC with potentially advertising that it's an LLC? Appreciate the help

Thanks! 

Hi guys,

I currently have a duplex in Manchester, NH -- looking to do either a cash out refi or a HELOC to purchase another property. I currently have the mortgage with Quickens (Which I can't stand) and looking for other options. The rates for investors are horrible and it seems that a HELOC might be a better option. Can anyone recommend a lender in the area that would be good to work with ?

Thanks,

Murali 

Can anybody recommend a Property Management Company at Manchester, NH?

Thank you in advance! 💯🙂

@Jeremy Chartier Hi Jeremy - Congratulations on your purchase. I bought my first Rental in Southern NH last fall and I too am interested staying in the area as well. Right now it’s been tough to find anything in the area I’m interested which is Manchester or even Nashua. Like you said, i too am looking to collaborate ideas with like minded people.

Thanks for everyone for your feedback. Great inputs, as stated earlier we inherited the tenants and we will create new leases next summer. Has anyone made addendums to existing leases to add those clauses in for pest control ?

Need your advice. This property I bought have current tenants, so we inherited them as tenants. So recently we received a maintenance request regarding the rats/mice. I reviewed the lease agreement, and it does not expressly say anything about whose responsibility it is. Plus this is a duplex so we might have to do pest control for both units. I appreciate your advice.  By the way it is located in New Hampshire. Thank you all!

Part of the lease says "The Tenant will, at its sole expense, keep and maintain the Property and appurtenances in good and
sanitary condition and repair during the term of this Lease and any renewal of this Lease."

@Jessica Stevenson Thank you much. Do you know a lawyer that can assist with transferring of title to an LLC?

Hey guys, I'm in the same boat as well. I'm purchasing a property with a swing set and BBQ that the seller intends to leave behind. I am concerned that this could be a huge liability to me and would like advice on how to handle it. I thought about creating a waiver that says use at own risk - anyone had luck with using that kind of clause?

Thanks,

Murali 

@Drew Koehn I’m curious as well. Any luck on this ?