All Forum Posts by: Thad McNair

Hi @Steven Meyer,

I am a buy and hold investor in Central Indiana. What I look for in a wholesaler is one that provides deals that make sense. I have to make money, otherwise I don't buy. 98% of all the wholesale deals that come across my desk do not have an upside for me! If you bring me a deal, it needs to have an advantage- 1) Reduced price from retail 2) Better condition - (so Its move in ready) 3) lower than market rents 4) Financing Terms, Etc. It can have a combination of all these (which is ideal). For me it more about the deal, than the location.

I wish you the best of luck in your new adventure!

Thad

I just switched to an independent agent, so they could help me all unit mixes. State Farm was cheapest on SFD and Duplexes, but would not do my 3 and 4 units. My new agent is able to handle all of them, and gave me some great counsel to boot!

Kirby Stogsdill - First Insurance Group (out of Spencer Indiana)

Sorry, but the system will not let me post a phone number

@Josh C.

What part of town was your "Ocean's 11" event?

@John B. Just curious, why are you getting out after 5 years?

@Scott McMillan I passed on that property 2 years ago, due to location. Its a TOUGH area!!! Very pocketey (if that's a word). It also depends on the type of tenants you want to have. I'm assuming you will be using PM due to your location listed. I'd check with them and see what they think of the unit you are considering. Best of luck!

Hi @Brandon Hall,

"The one tax issue you will likely need to tackle is the interest tracing rules. You need to reapply the capital you are pulling out via the refi to investment or business use, otherwise the interest on the cashed out funds is not deductible. "

Thanks for the input. Would you mind elaborating on the last sentence above. Perhaps with an made up example? Thanks!

P.S. Really enjoyed you on the POD Cast recently!!!

@Galya W. Do you have a contact at Capital One? Thanks!

I have not head back from @Monti Harris. Has anyone else? Thanks!

@Account Closed Any update on your Huntington HELOC experience?

Great advise @Desirae Putzier! Have you had any experience with asbestos siding?