All Forum Posts by: Remone R.

Update 2023* We did a Heloc on our primary residence(duplex) with Penfed at 80% ltv around 8% 3o year am with 10 I/O and 20 yr payback. Was a pretty smooth process. The only issue is if your property is in Texas you will need to have a homestead exemption to get the HELOC, which only took us a few days to get approved. And we do own a multifamily out of state as well, but no issues. Hope this helps

@Lynn Currie i know this is a old thread but i figured i'd mention it. We were going to use Doug as our CPA this year as he did work with investors and was very knowledgeable but he unfortunately just passed few weeks ago fyi

Hello i wanted to see if there's any recommendations on a real estate attorney in the jonesboro, ar area?

@Jeff Andre I actually own property in Jonesboro Arkansas. Sorry no info on Georgia

@Douglas Hogue congrats on that deal! The way I see it you may have a few ways to do a cash out as it sounds like they’re all residential. You said your credit is shot but you just bought a house, is it too bad to cash out on those properties with over 200k in equity? As for the partnership if he has the credit I’d take the 60/40 until I fixed my credit then renegotiate those terms.

@Ira Sullivan this could be a good deal with some good due diligence. I’d be very curious to what the seller may be hiding on this one because I’m sure there is something. C class properties can be a headache but usually pay off.

@Michael Plaks to answer your question there’s a Cpa I found here on bp I’ve seen often. I waited 2 months to consult with her for 20 minutes which I paid for. Was told I’d get a quote in a week. It took a month after I called and emailed for it. Then I had a question about the quote before I signed the contract but never heard back. I don’t ask a lot of questions but only idiots don’t ask anything. She’s probably really good also but I won’t find out.

@Basit Siddiqi I understand that completely. I’ve paid cpa’s for a consult, waited forever for a quote then had questions about the quote and never heard back. But consistently got emails asking me to sign the contract. One thing I’ve noticed in real estate and other areas is the ‘pay me, don’t ask questions because I’m too busy to answer’ trend. Folks are so focused on getting paid that they negate the customer service side. To say I should I want someone like that is crazy. I should pay you to speak with you before becoming your client. But if I have any other questions I should pay to be your client with hopes of getting my questions answered only to wait months for a reply, but I should understand because your so busy? Which is a good thing because it means your good? I disagree

@Michael Plaks doesn’t make sense to me. I wouldn’t do business with anyone doesn’t have time for me especially if I’m paying them. But thanks for the info

@Michael Plaks yes is agree but doesn’t that defeat the purpose of being hired on as a Cpa if you’re never available to speak to? If I can’t get a hold of you now why would that change after I pay you?