All Forum Posts by: Rudy Hernandez

Bob Okenwa Thanks for the feedback greatly appreciated. I'll definitely read up on it. I was hoping to get to 10 and then figure out what to do then.

Hi BP members,

Here lately, I have been getting different answers and have searched online but still have not been able to get accurate information.  As a Texas resident (if that matters), how many conventional loans is an investor limited to?  I know back in 2009 it was reduced to 4, but I keep hearing 10.   So what is the actual number of loans we can be approved for?  

I know the debt to income ratio plays a factor, so for simplicity lets assume that is not an issue.  

Look forward to your feedback.

Thanks for the feedback. I have been to a Reía before and they seem good. But are they are really that good? I am not a fan of too much hype. I just like to be a part of a sincere group looking to grow and connect with like minded people

Hi BP members,

Hope all is well.

I have been managing my own expense report and am stuck on what I feel like is either obvious or I am just oblivious to it.  In my expense report, I include 5% maintenance fee for any future repairs I would need to do.  So, for the last say 4 years, I have accrued about $6,000.00 (in 5% savings of my rental income).  Recently, I performed an upgrade to the master, which cost about $3,000.00.  My question is this, how to assign this actual $3,000.00 cost for the upgrade to the $6,000.00 (5% fee that is taken from rental income each month)?  Does the total come out to $9,000.00 now?  

I feel like the answer is obvious and I am missing it.  Does anyone have any feedback?  Even an expense report they may use that do mind sharing.

Thanks!

Hi BP members I have seen a lot of investor groups pop up now a days. I know we normally advise to go to a few to pick off the bad apples but are there any groups that are notorious for being bad or known for being great? I mean the obvious bad and good apples. I don't want to end up wasting too much time finding "the one" group But would like your feedback where I can find a group looking to grow communicate and share experiences. Look forward to your feedback.

I see thanks Jason Bott that does make sense.

@Jason Bott 

Hi Jason thanks for the feedback. That part I knew, wat puzzles me is the act of getting them. I want one or the other without having my loan turn into a commercial type loan, which raises rates. Is that the case for you and people in your circle? Are you or they able to have an LLC and it not turn your loan from a conventional to commercial?

Hi BP members I have studying and asking questions regarding starting my LLC or getting a GL policy on my rental properties. Well, I asked my mortgage companies and they tell me if I did the LLC it would convert the loan into a commercial one, which means rate and terms change as well as expenses go up. Me no likey. Than I asked about the GL policy with my insurance company and they said it would be like a commercial type policy and expensive. Me no likey that either. I asked around and I have been told that some investors have their rental properties under the LLC but the loan is in their personal name. My question is this, in doing it that way are you still exposed to be sued and the houses now available for grabs? I feel like doing it this way the homes are not really protected. Am I missing something? I'm getting more confused the more I dig into this topic. What's in your experience and btw I am in Texas. I'm sure laws are different everywhere. Look forward to your feedback.

Andrey Y. And Chris Ayers I would be interested to see that as well. So far the community does both 401k and Roth as multiple streams of investment and diversification. I would be curious to see the contrary

Thanks Randy Gillespie David Thompson Randy Gillespie Travis Dawson