All Forum Posts by: Terry Alexander

@Kendrick Walker if we are both on Title, can only I be on the loan?

Hello,

 My partner owns a property out right. Besides buying it from him, is there a way to get lending on it in my name?

@Julie Hassett I think is some advantage to using the listing agent. I do this as well, but you do need to do your own homework (but you probably should either way).  The listing agents tends to know more about the property and is more motivated to close the deal.

Finding an agent to work with that was truly "on your team" would probably be best... but I've yet to find one of those.

Hey @Julie Hassett,

The numbers seem good to me, I don't see what @Sandra Holt is referring to either.

The two details that stand out to me are, it doesn't seams right they are adding Oil Heat paid by tenants into GRM calculation, and the closing cost of 15K seam high.

 The  meter and fittings were about $240 and another $100 to have it installed. I now take a picture of the meter with my phone when I collect the rent and subtract it from the last picture to get the monthly water usage.

I added a water meter so that I can determine the individual tenants usage and informed the tenants that they will be paying for actual usage instead of a set fee. As @Jason Mak mentioned, tenants will use less water if they have to pay for it.

Our reservoirs are about as full as they were last year at this time.

@Brian Adams I am working toward the same goal as you. Can you recommend which book to read 1st? I have 2 rental properties now, and will close on my 3rd next week. All are SFR. I have more capital and want to more toward larger properties.

Thanks,

 Terry

Hey Toua,

 Besides the liability protection, I believe there may be some financing advantage. It may open you up to more loan options, such as commercial loans where your personal DFI and credit have less impact on being approved. I'm currently trying to learn more about the advantages also... hopefully someone with some experience with this will weight in here.

Terry

Hello,

 I live in Northern CA. I started investing in Real Estate in 2011. I own two SFRs and am currently working on acquiring my third.

-Terry

Hey Nathan,

 With my properties, the ones in lower income areas have more turn over and are more time consuming to manage then the higher income areas. But for me have been worth the effort for the addition cash flow.

-Terry