All Forum Posts by: Pavel U.

@Bruce Runn Tuesday 5-5:15ish works perfect. I have a showing at 4:30 not too far away. 

@Bruce Runn perfect let’s do it!

That's the "beauty" of small street level retail, you can convert it to anything you want it to be, whatever is in demand after this is all over and done with. For example fairly easy to convert a storefront into an office or vice-versa. Of course retail will still be around. It's not going anywhere. People will always need "amazon-proof" shops such as hair salons, coffee shops, bakeries, dentists, neighborhood hardware stores, restaurants etc. 

Those commercial tenants that have expressed concerns over rent & cam payments, I've been using an addendum "security deposit towards outstanding balances", where that security deposit will need to be replenished at least 6 months before their lease expiration. With most of my tenants that covers 1.5-2 months of their rent obligations. If they need help past that period (and have exhausted all other options - SBA etc) I plan to offer a payment plan of some sort.

The rate can adjust any time, even after 1 month after you open the HELOC.

I work with Merchants Bank (Rosemount or Apple Valley). HELOC on Investment Property:

>=700 (credit score), <=80% LTV the rate would be Prime - .25%
>=700 (credit score), 80.1% - 90% LTV the rate would be Prime + .50%
>=700 (credit score), >90%, the rate would be Prime + 1.75%

30 years; the first 10 years is the draw period, the remaining 20 years is the repayment.

Annual fee $25.

We always stay in Aldea Zama. First time was like 5 years ago or so. I would choose Tulum over Florida or California any day.

Same here, and almost pulled a trigger once to buy from Los Amigos. I was just there in January :) 

@Adam Sanders I'm not an attorney, but I'll share my experiences. First, if you have mortgage on those properties, moving from your name into an LLC might trigger a clause where mortgage company might ask you to pay off your loan. Mine didn't but you never know. Otherwise the process is pretty simple and the paperwork is called Quit Claim deed. To take it (asset protection) a step further, and your house is paid off, you can setup an LLC to be the "Bank", and create a promissory note between LLC that holds the property, and the LLC that's the bank, promising to pay x number of dollars, ie what you bought the house for. In case of a lawsuit that "Bank" LLC will need to be paid first. An attorney was helping me with that setup many years ago. One more thing, your insurance rate will go up significantly if the house is in LLC instead of your personal name. Good luck.

Walk away