All Forum Posts by: Shamit S.

Thank you Greg,

Yes, we're keeping the loans in individual names to keep options open for max number of FM-loans.

Cheers!

Hi all,

Have first investment property under contract (hurray!), with a loan approved in my name only. From an estate planning perspective, I've been told that its better to have both me and my wife's names on the title, but from a risk management standpoint I heard somewhere that I should keep the property in my name only. Reason was that in the event of litigation/lawsuit for something that may happen on the investment property, only me and my solely owned assets would be at risk, while assets co-owned with my wife (like our home/primary residence) would not be at risk.

Any thoughts on whether I should keep the investment property in my name only or add wife's name to the title to mitigate risk?

Side note: I'll be increasing our umbrella insurance coverage also post-close.

Cheers!

Thanks again Steve for your good input, will keep the above in mind when working w/Advance and painting trim vs doors.

Cheers!

Hi Jason, thank you for your note, wasn't aware of PVC trim, just looked it up at HD's website and I can see that in long run it would pay off. As of now, the unit we're taking over already had wood trim but previous owner never painted it, so its kind of new in one way. Will keep PVC trim in mind if we ever need to replace it, thanks again.

Cheers!

Hi Steve,

Thanks for your reply. Yes, I was looking into oil based paints, but great to hear there are great non-oil alternatives. Looked up BM's Advance, and people/reviewers seem to like it. Did you have to dilute it/mix with e.g Flood Floetrol/Penetrol or similar to get a nice and even coating or just used it as-is?

Cheers!

Hi all,

Planning on painting wood trim, baseboards and doors in white in the near future for a rental unit. Wanted your thoughts on what type of paint, composition and brand you've had great experience with in terms of long term durability, shine and easy to wipe off stains. Essentially looking for paint with low maintenance/low lifetime cost if that means paying extra for better paint up front.

Cheers!

I asked my lender this morning about escrow vs no-escrow and here's the response I got:

     You can waive escrows but typically there is a .25% (of loan amount) cost

I received this note during a Q&A w/lender before applying for a loan (w/20% down payment), so not sure how it would fare after loan docs have been signed.

Hi all,

New investor here, wanting to connect with agents, investor and property managers in/around Winchester, VA area. Looking for long term buy/hold of SFH/THs, want to start with rent-ready/light rehab at first. Also looking for developing areas in Winchester/Frederick County area, areas/sub-areas that shows promise/growth over the next 3-5 years, so if you have any knowledge to share, please feel free to do so.

Looking forward to connect.

Cheers! :-)

Hi all,

Looking to connect with Wake Forest investors and learning more about the area. Wake Forest seems to have the price point/housing age/size/availability of units etc I'm looking for, the expected rent in the area appears reasonable also. For those investing in Wake Forest how is the 5-10 year outlook in terms of growth, expected rent/home price increase etc?

The agent I'm working with (who himself is an investor in area) is recommending Garner, Holly Springs and Fuquay-Varina areas over Wake Forest based on growth that may come with the 540 extension/completion, but I don't see that many units available in $175-200k range in Garner, Holly Springs and Fuquay-Varina. What are your thoughts and outlook for the areas mentioned?

Have yet to visit the area, hoping to visit Raleigh area some time around March.

Cheers!

Thanks for sharing. Any thoughts on how the 540 completion will spur growth in areas south of Raleigh, like Garner, Holly Springs and Fuquay-Varina?