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All Forum Posts by: Jeff S.

Jeff S. has started 7 posts and replied 30 times.

Post: Flipping Homes using a heloc

Jeff S.Posted
  • Investor
  • Eugene, OR
  • Posts 30
  • Votes 15
Local credit unions are great for helocs. Most credit unions let you open an account with $100 or less. Once an account is open they will allow you to get a heloc.

Post: BEWARE of fraud by erentpayment.com

Jeff S.Posted
  • Investor
  • Eugene, OR
  • Posts 30
  • Votes 15
We use Cozy.co. Deposits can take 7-8 days but it’s consistent so I don’t mind.

Post: First Flip in the Books

Jeff S.Posted
  • Investor
  • Eugene, OR
  • Posts 30
  • Votes 15
Awesome job!!!

Post: Anyone bought a house from USAA

Jeff S.Posted
  • Investor
  • Eugene, OR
  • Posts 30
  • Votes 15

I found a for-sale-by-owner listed house on Zillow, but was contacted by USAA when my request for information was sent to the owner. I guess the owner is USAA. Has anyone bought a house through them. Are there any steps I should be aware of?

Post: Buying first rental property

Jeff S.Posted
  • Investor
  • Eugene, OR
  • Posts 30
  • Votes 15
Cash offers are best in this housing market. 3/1 is very popular, but look for 2/1 and you might find slightly less demand.

Post: Insurance

Jeff S.Posted
  • Investor
  • Eugene, OR
  • Posts 30
  • Votes 15

I have one house, owned by an LLC that my brothers and I (all owners) created. We have a commercial insurance policy on the house. Other than adjusting the policy amount, is there any other policy needed? Is a commercial policy the correct thing to have?

Also, I have an Airbnb rental attached to my home. It was an in-law suite apartment that wasn't being used. Do I need a separate policy for that from my regular homeowners policy?

Thanks in advance.

Post: Cozy.co reviews

Jeff S.Posted
  • Investor
  • Eugene, OR
  • Posts 30
  • Votes 15

@Gino Zahnd or any other Cozy users here, can I use Cozy if the rent payment is going into a business checking account and the checks go to an LLC and not an individual?

Post: Quickbooks Tutorials for Landlords?

Jeff S.Posted
  • Investor
  • Eugene, OR
  • Posts 30
  • Votes 15

Does anyone know if there is a difference between LandlordAccounting's vs Nancyneville's QB's set-up book? $99 vs $69.

http://landlordaccounting.com/ vs.
http://nancyneville.homestead.com/TheLandlordsGuideToQuickBooks2012NEW.html

Post: Transfer Tax in New Hampshire - Which Form?

Jeff S.Posted
  • Investor
  • Eugene, OR
  • Posts 30
  • Votes 15

Was wondering if anyone knew which Transfer Tax form I needed to complete in New Hampshire. I own a house and am moving it into an LLC, which I own. The forms are listed as one for the buyer and one for the seller.

Here are the forms: http://www.revenue.nh.gov/forms/rettforms.htm

Thanks in advance for the assistance,
Jeff

Post: First rental is in NH

Jeff S.Posted
  • Investor
  • Eugene, OR
  • Posts 30
  • Votes 15

Hello Everyone. Just a newbie here. My two brothers and I recently became the owners of a house that we are renting. It was a house that we inherited.

We are looking to add purchase another investment property in the next 1-3 years depending on what deals we can find and the revenue this current house provides.

Current house is a 2 bedroom/1 bath on 2+ acres and is worth about $130K, rent is $1000. Taxes and insurance are approximately $420/mo.