All Forum Posts by: Stanley E.

@marcia maynard I also bank with USAA. Do you use them for business loans and/or personal loans yo fund your real estate business? I am preparing to start using leverage for my future properties and am trying to find the best place (loan friendly) to build a relationship with.

Thanks all of you for your candor and caution.

Carolina E. Thanks for the info. If I get him to finance part of it, would he hold on to the title until I finish paying off the mortgage with him or would I receive the title upon completig the deal. Thanks again.

Hi BP. I have a potentially profitable situation but wanted your opinions. My realtor has a property he wants to sell for $15K. He tells me it appraised at close to 42K. The rent is $525/mnth, but the tenant pays $575/mnth because of late fees. Of course I will ask him why he wants to sell. What other questions/documents do I ask for? At face value, this looks like it could have a CAP rate of .27%. It is a 2 BR/1BA w/bonus room and central air. Let me know your thoughts/suggestions. Thanks.

Hi BP. I have a potentially profitable situation but wanted your opinions. My realtor has a property he wants to sell for $15K. He tells me it appraised at close to 42K. The rent is $525/mnth, but the tenant pays $575/mnth because of late fees. Of course I will ask him why he wants to sell. What other questions/documents do I ask for? At face value, this looks like it could have a CAP rate of .40+. It is a 2 BR/1BA w/bonus room and central air. Let me know your thoughts/suggestions. Thanks.

Hi all. I keep hearing "syndication" in REI and am not sure what it means. Please shed some light on this subject for me. Thanks.

Thanks everyone. So I guess the next question is, at what square footage should HVAC be considered? I generally look to invest in smaller SFRs in the 700-1200 sq ft range.

Hi Monique Sanders. How do I go about finding the regular schedule for the LR REI group meetings? S.Ellis

Hi @Chrissy Monthomery. Thanks for the input. The 3.5 million dollars certainly got my attention. I appreciate the subtle encouragement. Going to reevaluate some properties I've been teetiering on because of no HVAC. S.Ellis

Thanks everyone. This is all great advice for my meeting on tomorrow. When I stated "transition", I actually meant that I would begin buying RE through my LLC separately from my self directed IRA. So I guess I need advice on what questions to ask the CPA that would help me to better plan my REIs trough my LLC. Thanks again. Stanley