All Forum Posts by: Shane Allman

Thanks Ty!

I think I know the answer but wanted to verify with more experienced investors. I bought a condo for my daughters to live in while at college and will keep renting after they are gone. They have 529s to use to pay their living expenses and school tuition. We have an LLC set up for the condo and we have an banking account for that LLC. My question is, do I need to create an escrow account for that LLC to separate out the rent as it comes in of the other operation funds or does it matter?

Just the two lots

Nicholas L., yes pay down our mortgage.

Sean O’Dowd, yes I would love to maximize cash flow but ultimately I am looking for long term investments that can ultimately build wealth as well as a passive income. 

If you have $50 to $100K to invest, how or what would you choose to do?  Looking for ideas. Wife wants to put it toward our primary home mortgage but feel it would be better to invest in BRRRRs or something else.

No I know I have the right guy.  The Uncle is the one who gave me the cell number.  

Chris, these lots make up the front yard and drive way, I gotta have them with the sale.

Thanks for the input everyone.

I purchased my first investment property in the end of Summer.   This was a Fannie Mae repo with a hitch.  This property that was foreclosed on only included 2 of the 4 lots.  After locking down the house, I tracked down the heirs of the former owners (2 surviving siblings) and they were wiling to sell the 2 additional lots.  In handling all the heirships, we discovered one of the deceased siblings had a son and the Title company required his signature to close.  I contacted him and he said "not a problem, send me the paperwork".  ( we are only talking about $1000 for the pair of lots , 50x50 lots).  Now he will not sign, he won't respond to text or emails.  He has cut off all communication.  He had not talked to the living siblings in over 12 years.   I have offered to pay him, pay for the notary, send a mobile notary, etc.... with no response.    My house reno is done and I just need this one signature to move forward with listing/ selling.  Any suggestions.   This is in Texas.  

Does anyone offer a lower down payment plan for a purchase of a new manufactured home and land?  I have a client whos lender wants 20% down and that is too much for this buyer right now.

Thank you Nicola.

Years ago I bought a Better Homes and Gardens home design CD that I used to design my current home and other remodels.  I am looking for suggestions on a newer design program I can purchase that I can use both on my office computer and my Ipad at home.  My basic needs are to be able to build a floor plan and I am sure most offer the 3D design aspects as well.   Something I can print out and hand a builder to see what we are wanting to accomplish or to an architect to build new construction plans.  I am not looking to spend a ton of money on this but I realize I probably won't find a CD for $35 again. :)   Also know that I am not very tech savy so it needs to be extremely user friendly.  Thanks.