All Forum Posts by: Ryan Halford

Hey @Gene Paniccia,

I've worked with and bought from New Western. I'd be glad to talk to you about it. Their houses usually sell within a day because they are typically decent deals, that is why there is no inspection period, along with the fact that they are wholesale deals. I am a retired general contractor and current Realtor so I can analyze houses pretty quickly and have a rough budget with a single walk through and always keeping a contingency fund knowing I'll miss somethings. All that to say, the better the deal the faster they will go. If you can only afford to do one deal at a time I would perhaps suggest finding your own deal or being extra diligent when you can, but NW does have decent deals depending on what you are looking for.

Hi @Shakil Ahmed

I'm an investor focused Realtor in Tampa. I am also an investor myself with several LTR investments. I also do the occasional flip. I am currently targeting creative finance deals/SUBTO as part of Pace Morby's Community and member of GoBundance Emerge.

Hi Jessica,

I have been investing since 2008. I ran a construction company for about 15 years. Now I focus on long term rentals, but I am also starting to get into wholesaling and returning to flips. I am also a REALTOR that focuses on investors, but I do help people find their personal residences as well. I would  be glad to get on a call and help you find the area of Tampa that would be best for you!

Found it. Equity Assurance is the name of the company. Now I have no experience with them and I can't attest to their legitimacy, but here is info I found. 

Overview

Equity Assurance, LLC was founded with the real estate Investor in mind. As real estate investors there is a great deal of opportunity in "subject too" and/or "wrap" transactions. However, currently the "subject too" and/or "wrap" transaction is always subject to the existing mortgage company exercising their legal rights to foreclose on the subject property based on the "Due On Sale Clause" which is contained in all mortgages and/or deeds of trust on real property. Equity Assurance, LLC has the ability to provide coverage in the event that the existing unsatisfied mortgage that is to remain in place after the transaction has completed decides to exercise their rights under the aforementioned "Due On Sale Clause".

In the event, that the “Due On Sale Clause” foreclosure is initiated by the existing mortgage company and/or bank, Equity Assurance, LLC will interject into the foreclosure transaction to cure the “Due On Sale Clause” for the investor by assuring that the covered loan and terms will remain in place.

Phone 8178744372

I don't remember they name of the company or the guy who was being interviewed on bigger pockets podcast, but it was a company that insures the sub to deal and if the loan gets called they will basically replace the loan with same terms i.e. they will pay off the loan and make a new loan to you with same terms. Maybe search through the Podcasts for it if no one here can come up with it. If you do find it please post it here and tag me.

Hi, Tucker. I would be glad to discuss this with you in depth. I am an investor focused REALTOR, an investor myself, and I used to own a construction company for over a decade (involved with construction for 30+ years) which is invaluable when coming to underwriting investment properties and knowing what it will take to get them rent ready. I would gladly give you 30-60 minutes of my time to go over your goals and discuss how we can best help you reach them. Shoot me a text and let's set something up. 

You never know how the world will change over the next 70 years of your life. I wouldn't recommend any intelligent, self motivated person who wants to be entrepreneurial to go to college - UNLESS it was free. Then I absolutely would. Hopefully you will live a long life and 4 years is not going to break the trajectory of your goals especially since you don't likely have a bunch of capital right now to hit the ground running and keep running without running out of fuel (cash). In college you will learn a lot of life applicable things, you will network with a lot of people who will be valuable to you down the line (this is where your major is important), you will learn how to communicate more effectively, you will learn how to learn better, and overall you will be a more educated well-rounded person from core classes like psychology, philosophy, and the like. There is no disadvantage to sharpening your brain. The only down side to college is the cost in my opinion. The time is beyond worth it even if it doesn't apply to what you want to do in life, because the truth is it still applies to anything you do in life. That being said, and to answer your question, I would recommend a degree in commercial real estate, business, or sales. Starting your career out as a commercial real estate broker would really open up your network. A degree in business will help you if you decide to get into owning businesses (most of my tribe in GoBundance who are in real estate also are involved in some type of other business), lastly sales is key to anything you do in life, the sooner you learn that the better off you will be. How ever you start out, keep focused on the next step, don't get stuck in any situation. Have a vision, goals to get you there, be consistent, and stay healthy. Feel free to reach out if there is anything you would like to talk about. I'm just down the road from you and I'm also a REALTOR who is an investor and I've owned multiple businesses. 

Managing and preventing pests at a rental property requires a combination of proactive measures, timely response, and proper education for your tenants. Here's a guide on how to address and prevent pest problems at your rental property:

Managing a Current Pest Problem:

1. Prompt Action: As soon as a tenant reports a pest issue, address it immediately. A swift response can prevent a small problem from turning into a major infestation.
2. Hire Professionals: Engage a licensed and reputable pest control company to assess the situation, recommend a treatment plan, and implement it. Professional treatments are generally more effective than DIY approaches.
3. Document Everything: Keep detailed records of complaints, your responses, and any treatments applied. This can help if there are disputes later and will be useful for monitoring recurring issues.
4. Educate Tenants: Sometimes, the behavior of tenants can contribute to pest problems (e.g., leaving food out). Provide them with guidelines on how to minimize risks.
5. Regular Inspections: Periodically inspect the property for signs of pests. This can often help you spot issues before they become more significant problems.

Prevention:

1. Regular Maintenance: Ensure that the property is in good repair. Seal cracks and gaps in walls, windows, and doors. Repair or replace torn screens. This can prevent many pests, like rodents and bugs, from entering.
2. Landscaping: Keep bushes, shrubs, and trees trimmed so they don’t touch the property. Avoid having dense vegetation right against the property, as this can provide hiding places for pests.
3. Garbage Management: Ensure that garbage bins are sealed and that garbage is removed regularly. Encourage tenants to use trash bags and to not leave trash outside of bins.
4. Educate Tenants: Provide tenants with information about preventing pests, such as proper food storage, cleaning guidelines, and the importance of reporting any pest sightings immediately.
5. Regular Cleaning: Encourage tenants to keep the property clean, especially food areas. Crumbs and spills can attract pests.
6. Water Control: Ensure that there are no areas of standing water around the property, as they can attract pests and are breeding grounds for mosquitoes. Fix any leaks promptly.
7. Regular Inspections: As mentioned, periodic checks can help spot potential issues early on. This includes checking for things like termite mud tubes or signs of rodent activity.
8. Work with a Pest Control Company: Some property owners find it beneficial to have a regular preventive treatment plan with a pest control company. This can be especially valuable if your property is in an area prone to certain pests.
9. Tenant Turnover: Whenever a tenant moves out, it's a good practice to inspect and treat the property, if necessary, before a new tenant moves in.

Remember, communication with your tenants is crucial. A good relationship can ensure that they report issues promptly and follow guidelines to prevent pest problems. If your property has recurring pest issues, it may be worth investing in more permanent solutions or consulting with a pest expert to determine the root cause.

Buying in an LLC for a house you are going to live in is detrimental. (I'm not a attorney or a CPA)

1. Loan Conditions: Purchasing a home through an LLC often doesn't allow for the favorable loan terms one might get when buying as an individual. This can mean larger down payments (e.g., 30% or more versus as low as 3.5%) and higher interest rates.
2. Loss of Homestead Exemption: In Florida, the homestead exemption provides homeowners with property tax advantages. Owning a property through an LLC means you may lose out on this exemption, leading to higher property taxes. Additionally, the growth in assessed value of homesteaded properties is capped, preventing steep increases in property taxes.
3. Higher Insurance Premiums: Insurance for properties owned by LLCs can be more expensive than for properties owned by individuals.
4. Complex Accounting: Renting a home from your own LLC can complicate your financial records and accounting processes.
5. Potential for Capital Gains Tax: Selling a property owned by an LLC could subject you to capital gains tax, whereas individuals might qualify for an exclusion if it's their primary residence.
6. Homestead Protection from Bankruptcy: Homesteaded properties in Florida enjoy certain protections in bankruptcy situations. These protections might not apply if the home is owned by an LLC.
7. Cost and Complexity of Forming and Maintaining the LLC: Forming an LLC involves state filing fees and potential annual fees or reports. The administrative work required to maintain an LLC can also be burdensome for some.
8. Potential Legal Risks: If the IRS or a court determines that the arrangement of renting to yourself is not a legitimate business arrangement but instead a method to evade taxes or deceive creditors, you could face legal consequences.
9. Loss of Mortgage Interest Deduction: Individuals can typically deduct mortgage interest on their personal residence. If the property is owned by the LLC and rented to you, this potential deduction might be lost.
10. Potential Difficulty in Refinancing: Refinancing a property owned by an LLC may be more challenging than refinancing a property owned personally, especially with traditional lenders. Also, you may lose the ability to take a HELOC out against the home as you gain equity.

Most of the whole point in buying houses in your name first and living there for a year or two is to take advantage of the benefits afforded to homeowners. There can be a couple reasons to not have it in your name but those are mostly related to privacy or estate planning and are only applicable in certain particular situations. If you need an investor focused REALTOR in the greater Tampa Bay area feel free to reach out.

There are several good reasons to sell with owner financing. If you aren't going to 1031 into another property you will be paying capital gains taxes unless you lived in both of these houses 2 years each out of the last 5 years. Most of the reasons people have against seller financing are the same reasons people have against being a landlord, either situation has a certain risk which we mitigate through various vehicles such as a reasonable down payment (20%+ is great but at least 10%). You could do an option to buy/ rent to own but you are still responsible for repairs etc. It's usually just a way to try to keep someone's down payment because you are selling/renting to unqualified buyers and finding someone who has money to put down on an option to buy who can't just go buy is usually unqualified for conventional lending. Another reason to sell with seller financing is you can ask for a higher purchase price, same as that happens all the time in commercial real estate transactions. You increase your buyer pool, you get cash flow (depending on your interest rate - if I wanted to sell for whatever reason and had a 2% interest rate then I would definitely consider selling on financing), you can probably sell without an agent, you will have far lower closing costs... I can go on but you can just google the benefits before this turns into an article. Is it for everyone, no. Are there reasons not to do it, yes. But if you are considering it I feel like you might be someone who it would be beneficial for. If you want to talk about it more I would be glad to talk. I have nothing to sell you... unless you want to list your house. Like Chris said, I would also just do a mtg and note.