All Forum Posts by: Craig Steltz

Please take a look at the cash flow of these 2 garden style condos. They are less than 2 miles from house and in great neighborhood. 2 pools and fitness/clubhouse. The negatives are that the Ardent line item is a non-active external condo fee for external maintenance which varies each month based on work done. Taxes aren't shown but are 900/year. Also I would not be paying for the Payroll or Other Expenses line items.

Also until 2/07 the owner had 4 properties. That's why you see the rent cut in half 2/07. Then there is a recent stretch where only 1 of the 2 units was rented. Currently both units are in 1 year leases.

My question is what would you be willing to pay for these?

Thanks

OhioBuckeye

Paying cash on an initial rental investment. Let's say $125,000 on 3 rental properties.

Can I then turnaround and get a home equity line of credit on those three paid off houses to then purchase new rentals? and then continure this process on and on Until I've amassed a decent portfolio?

Thanks

OB

I do my taxes myself and don't plan on hiring and spending money on a CPA.

OB

All,

If I take out a HELOC under an LLC. Meaning the LLC would own the HELOC. How would one deduct interest on their taxes? this wouuld be a single member LLC. Can I just use the EIN on my own personal tax return and decduct this? Or does the HELOC have to be owned by an individual in order to get the tax deduction?

Thanks

OB

I just purchased the Section 8 Bible book and plan to give it a good read. I'm curious how many investors in this forum specialize in section 8 investments.

If you do please let me know how section 8 investing has worked for you. It appears to me that there is a good chance to make money but the risk of house damage and outright destruciton of the home exists. All it would take is one nasty tenant to destroy a lot of income.

Thanks

Ohio Buckeye

I'm considering starting to invest in condos. The location of the condos I'm looking into are here: www riverwatchtower com

There will be little to no positive cash flow starting out. I'm considering units in this location for a few reasons:

1. Close to Ohio State University (high demand)
2. Little to no maintenance due to size and management company
3. My children can use them when they go to college.
4. I don't see much risk

Any thoughts on these units?

Also just starting out should I purchase the properties in my own name or create an LLC? Why?

Lastly I plan to invest using a HELOC of $200,000. My own home is almost paid off. Any thoughts on this? Also can I turn around and use the the new properties as collateral for more HELOCs?

Thanks

OhioBuckeye