All Forum Posts by: Nilo Ignacio

If you don’t have health insurance and you catch covid and end up in the hospital, Can they take your rental properties from you as a form of payment?

Can they legally take your paid properties away from you?

@Kevin Dong

Where are you buying 50K

Properties at?

@Wa Chan

I did the same thing 2003

Removed all my money and invested on myself.

I bought a van and Tools

And boom, I was self employed..

Only diff is I didn’t know anything about real estate.

But I don’t regret it

Do your homework

Everyone is diff and have diff plans, but I would do it again In a heartbeat!!

Good luck

@Tristan Colborg

I’m a Contractor

30 yrs experience

If it was me, I wouldn’t even call you back.

First We already know that you will have several Bids so you don’t have to say anything.

When you have a price breakdown like that it means you will nickel and dime us

It will be a wast our time

We have to much work to be messing around with a cheap

Individual investor.

Don’t get me wrong we work with investors but it’s a relationship that is built and we already know them..

To be Honest

Working with investors or flippers

Are usually bottom feeder work.

Sorry guys

That’s the honest truth!!

Best Advice

Get with a Good property manager

Cause they usually already have their Team who trust them..

If I buy a investment property that is cheaper than the home value,

Do I still need to put down 20%?

Say the value of the house is $150K, if I buy the house for 80K

Do I still need to put 20% down if the house has a lot of equity?

She still has a balance of about 50k and she had the house for around 12 years.

if I can just pay her equity and take over the house, I think it would be great cause she already paid 12 yrs of it and the mortgage payment is already at that stage where it will soon pay more of the  balance instead of the interest.

I was just wondering what issue I might come across. Will I be able to write off future repairs?

What happens when the house is completely paid off can I transfer the house in my name without paying all the taxes?

My Sister inlaw has a house here in San Antonio Texas.  She lives in Hawaii and she wants to get rid of her rental property because she no longer wants to be a landlord.  I am a self employed and I would have a higher interest rate if I try to buy it out right..  

I want to pay her cash for her equity and take over the house. She has a long time tenant and would like to keep the tenant in there.

What would I need to do? 

Can I be added to the deed?

im not sure if the house is assumable. probably not..

Carol Galloway with Drought Properties. 

she does a lot of properties here in san Antonio. She has a lot of experience.

We take care of their AC units.

Im a Landlord and a HVAC contractor.  When your AC goes out here in south Texas its an emergency. I work for several investors who own several properties too.

If the ac goes out and we cant fix it we usually drop off a portable AC.

I recommend you build a relationship with a Small ac company. 

Here is a HVAC contractors perspective..

 Understand that we are also trying to feed our family so we need to make some money. If you Nickel and Dime your contractor, He will usually put you on the last of his list. Be careful on getting only the lowest Bid, He might take short cuts and this will cause your AC not to last.. So make sure you use a Licensed contractor who have several years of experience. This will also protect you in case some issue arise.

Its not the Brand of the AC you choice that will make the ac last long, Its the installer and his proper install practices.