All Forum Posts by: Ryan H.

Is anyone aware of a title company in Birmingham able to provide lists of properties and owners that meet requested criteria?

In July of 2022, I purchased a SFH and obtained a 30-year fixed @ 6.75%. The property appraised for $30k more than the purchase price before improvements, and I then added a new roof, new AC, new carpet and flooring upstairs, a washer and dryer, and a bunch of general repairs. I'd like to pull cash out at some point to continue investing, and would also like a lower interest rate.

When would be an appropriate time to consider a cash-out refi?

I own an out-of-state property and the tenants have notified my property manager about a crack in the floor of the shower (see here).  The property manager says that after speaking with contractors that she doesn't believe the shower pan can be repaired.  She recommends remodeling the entire area of that bathroom.

(1) Do you agree, based on the video?
(2) What are my financing options if I don't have the cash immediately available for a bathroom remodel?
(3) If the tenants work outside of the home and can't be present when the contractors need access, how would I manage this?  I'm assuming it's not appropriate to have contractors in the home if a tenant can't be there, because of their valuables, etc. 

@Chris Merz - will there be a meeting tomorrow 12/28?

HI all, I have rental properties in Tucson and am questioning whether to continue paying for the termite warranties, which cost $185 per year and include an annual inspection and subsequent treatments if any infestations are found.  It's a large expense, and I wonder if any of you in the Tucson area go without it?

 @Eliott Elias - I've been making many calls this past month have come across plenty of credit unions that provide lines of credit on non-owner occupied properties.

I'd really like to explore working with Fund & Grow. I own a healthcare practice and could certainly obtain business credit cards for that business, but I'm more interested in obtaining business credit cards to assist with investing in real estate (which is what so many of their clients do). Thing is - in the eyes of the IRS my rental activities don't qualify as a business.  What to do?

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I was told by their business development manager that they will not proceed with a job without owner approval if they receive an estimate from one of their vendors for over $500, and that in this case owners are free to choose their own vendors and pricing.  Was this not others' experience?

@Kristina Anderson, @Ian K., @Isabel Yang, @Jered B.

Some time ago I opened a business checking account to separate out my rental income and expenses from my personal income and expenses and because I thought that, from a tax perspective, my rental activity would qualify as business activity.  However, in the eyes of the IRS, my rental activity is not a business.  While I still want to keep a separate checking account for my rental activity, should I move those funds in to a personal checking account, or does it not matter?