All Forum Posts by: Brian Schroeder

Welcome Edward Robinson.  I live in Springfield as well.  You have landed on a good site here.  Good luck with all your endeavors.  I have only one rental so I am not a guru,  but I will try to answer any questions you have.  I belong to a RE investment club here in Springfield if your interested? PM me and I will be happy to share.  I would let you know now but the last time I mentioned it the post police was all over me and told me that this wasn't the place to do it.   Have a good day.  

What is your criteria? Are you looking to live here, or just to invest? How did you come up with Chatham school district to invest in. The only reason I ask is that in Chatham the have a good schools, but you pay higher taxes for it. It cost 10-20% more for the same house in Chatham then you would in Springfield. In the last 10-15 years they switched from Springfield water to there own aquifer. Since then they have been many issues with the quality of water. We are not talking about Flint MI issues, just the water smells and some discoloring. The water bills have very high, and continue to go up trying to fix the problem. With that said it is a very good and well sought out community to live in. just like the old adage goes you get what you pay for. Well sometimes, they are working on the water, and have been for several years now. Good luck with you search.

I don't think there is a sticker in the door.  I wasn't looking for one though,  next time I drive by I will look for one.  Thanks Jassem

I was wondering how I would find out if a house is condemned?  County building, what department? Department of public health?  I am not sure where to start.  Thanks For the Help. Brian

I have had a consultation with a lawyer name Mike Durr. He sounded good, pushing the series LLC though. I am not sure about the Series LLC. Again I only had a Consultation with him. I am getting so close with the rehab on this house I am thinking about calling him again, a long with a CPA. His name is Troy Washko I wasn't to impressed. I wasn't able to talk to him only his assistant. I don't know if that was because I was so Green or what. Hope this helps. Please keep me inform on how you talk to and and if you where happy with the service.

At this moment I am still pondering the LLC option.This house was in pretty bad shape and I am pretty good with my hands so I am doing all the repairs myself.I am seeing the light at the end of the tunnel; it's been a long road. I will be making the LLC decision shortly. The lawyer I spoke with was really pushing this Series LLC. Thanks for all your input.

Brian

Thanks For the referral Scott.  Brian

I posted this before,  But something must of, or must of not happened correctly.  Eric I have a couple of names for you.  The real estate agent I used to buy my rental property is Fritz Pfister.  He is with Re max.  He is a real good agent.  He is radio every Saturday at 10.:00 Am, on WMAY  AM 970.  His phone number is 217-652-7653.  Another one that I believe is good,  but I haven't had any experience with is Jim Skeeter.  If you want to PM me with the property info,  I am always interested in new rental property prospects.   Hope this helps and Good luck.  Brian 

My sister and brother-in-law have two rental properties in Cheyenne. She was telling me about the person that is running them. I don’t think they’re being taken advantage of, but some of things she has told me about how the properties are being run, doesn’t seem right. I told her that I would post to BP and see if there is any other option for her in Cheyenne. Thanks Brian

Thanks Micheal and Scott,  

Micheal I will read up on the topic's you recommended. If you don't mind disclosing, what did it cost to form you LLC and how much to maintain it? If you don't want to disclose I under stand, and thanks.

Scott I made a cash offer and have the funds to so so. I was thinking that I would refinance afterwards. I thought you can't do Investment properties for 30 years, I thought i could only do 20 or maybe 25 years. if you have a big enough down payment, and most of thous are done with a 5 year balloon notes. How are you doing 30 years are you living them for a year or so? What kind of down payments? What type of financing FHA, VA, Conventional, or private financing?

Now you got my wheels turning, I am leaning away from the LLC.