All Forum Posts by: William Huston

Hello All, 

I am still trying to learn the ropes, just have a few questions i wanted to ask to get some education on...

I currently have a few rentals, they were previously primary residences that i turned into rentals as i moved among the USA in the military... they are all in my personal name and recently ive learned that im putting myself in a lot of risk having them this way...

My question is do i have to get an LLC in all the states they are located and place them in said LLC of that state or can i just get an LLC in x state and put all of them in that LLC?

Example: 1 property in Florida, 1 property in Colorado, 1 property in Arizona...

Do i have to get 3 LLC's, 1 LLC for each state the property in or....

Can i just get like 1 LLC in Colorado, then put all 3 in that LLC?

Hello All, 

I am still learning the ropes, i have a few rentals that were all previously primary residences.. Ive since turned them into rentals as i moved.. If i wanted to move back into one of those rentals and live it in myself, what would happen or should i say, what should i expect to do and happen that year and in the future... do i have to pay back the depreciation that year in taxes? 

I am actually curious if you could go into more details on the company taking over the loan payments... i ask because i myself have a rental in my own name, once was primary residence, rented out for a period of time and now that im becoming educated on investing in real estate i want to place in an LLC... still learning all the ropes here..

I am curious if a property is bought using a 1031 exchange from another property sell, used as a rental for a period of time, is there any way to turn it back into a primary residence again? 

Would you pay back depreciation that year on taxes or at a later date when sell it?

Thats the issue im finding here local, im trying to buy within 1 hour from my home, so i can possibly self manage it, but im throwing in management numbers in the calculations to assure i have the room for it if i so choose. Most of the MF in my area lately have been selling with single digit CoC returns, just a little hard pressed to settle for such low returns. I could pay down one of my higher interest mortgage loans and nearly make equivalent returns...

I get the fact that when a SF goes vacant, that its 100% vacant, but the last 5 years the longest ive had a rental vacant for is 5 days, most of my properties i have a contract for a new renter the next day after they move out. 

Hello All, 

I currently own 5 rentals, but i am having difficulties getting financing on another "investment" property after speaking to multiple banks, they seem ok with giving me a loan for primary residence, because i can use VA benefits, but most are just refusing to give me another loan for investing..

So i have been contemplating doing house hacking and purchasing another property that is larger, so i can have extra space to rent a room or 2 out to try out house hacking to further my investing in real estate. I have enough to put about 50-60% down on a larger house, but i feel like it goes against everything i have learned about in real estate investing.. but my alternate thought is the money i have is just sitting making very little interest, so why not put it to work and reduce the amount i would have to pay every month, possibly making a single roommate cover the entire cost for me to live there or net a little in cash flow and try to pay it off in an accelerated manner. 

Also another situation i may do is place it in an LLC, up till now all my properties are in my name and not in an LLC, these were bought prior to me furthering my education on real estate investing, so thinking i could start the ball rolling placing this one in an LLC and in a year or so possibly moving out of it and turning it into a rental and have it properly in an LLC.

I am curious how many DIY folks here are making it work without a truck, recently i have been contemplating switching out the car for a truck as i perform more and more DIY task myself, i have been making everything work so far with a 2012 Chevy Volt i purchased when i got my real estate license with the expectations of doing more driving as a Realtor, but surprisingly i have driven very little in the last 2 years with my license, i have only been doing sales part time while working part time as a registered nurse with the expectations of switching over, but i have yet to feel comfortable going full time in real estate sales with the income i have been earning vs my nursing income, so i have been only averaging around 10k miles a year the last 2 years. 

The reasons i have been thinking of making the switch is i have spent a good chunk of money the last 2 years after selling my previous truck on deliveries and paying friends to grab something or move something for me with a truck. Also there has been many of days i could have finished a project if i could get it that day with a truck, but couldn't, so i had to pay to have it home delivered...

I purchased a hitch kit for my Volt, as a lot of people online told me they tow with trailers with light loads all the time without an issue, but after adding the hitch with the intentions of just renting a cheap trailer from uhaul when i need one... came to find out that because my car has a 0 tow rating from the manufacture, uhaul cant legally rent me a trailer.. their system says every trailer is above the towable limits, preventing me.. So i would have to purchase a trailer now and i really dont have anywhere to truly put a trailer, HOA prevents it outside, so it would take up my garage space, which i prefer to park my vehicle to keep it out of the weather, and safely inside.

Recently a coworker of mine purchased a Chevy Colorado with the 2.8L duramax diesel as a realtor, his is a 2wd version and driving around showing houses his fuelly claims he is averaging 27-34 mpg per tank driving it, so been thinking of trading my car in for a used 2016 model to spend the least amount on a depreciating asset. 

I repainted my 2 rentals i recently sold with SW agreeable grey, i had never used this color before, but when i was at the paint store i asked what was the most popular color right now and he said agreeable grey was about 70% of his business for house flippers he serves and he had great feedback from the flippers on it, so i gave it a go and it turned out pretty amazing with a bright white trim color and heritage red for the doors..

Hello All, 

Its been a while since i have bought a property for myself or investment, lately i have been on the search for another property as i am planning on moving as well purchase another investment property. I had 7 properties up till a few months ago, i downsized to 5 after selling 2 non-performing rentals, but since its been years since i have purchased a house the strictness of purchasing has changed a lot. I posted something similar to this in a conversation on another post, but i wanted to make a post separate to get more input. Currently i have a great credit score, but because i am no longer in the military and now working fairly new job its been extremely difficult to get another loan. I have taken some advice i read about and contacted local banks, not the big name banks, but most just plain will not touch me period due to how many loans i currently have. 

I have had a few offer me loans, but they would only offer me a loan under "NON-Investing" and the interest rate they offered me seemed to be a bit high or they asked for 25% down plus points. The only companies i have found that would offer me an investment loan at this moment was in the 6%+ range with 20-25% down, which just seemed like a rip-off... 

Just looking for more advice, i want to continue to invest as i gain more knowledge in real estate investing, because id like to increase my passive income to be FI, just seems like the new limits have put a wall in place.