All Forum Posts by: Christopher Henning

I did the Amway thing for a while and you can make money on it but it consumes your whole life. I had a great paying job and did it as a side project. One problem is that the income you get from that is hard to verify and never consistent, I would be wary of not getting paid my rent if it were me.

Ok so we are looking at a property where the current rent being charged is $325 per month. The going average for the area is $500-$550. Without using a property manager, purchase the property we would want to raise the rent to the average for the area. Can you tell me what the best processes you have found to be successful at this? Gradual increases? Instant increase?

Any help you can give would be greatly appreciated.

Thanks in advance!

So we are evaluating a property and our agent is attempting to set up a showing and the tenants won't respond to the sellers agent. The rents there are very cheap now $325, should be around $550 in the current market. Do you think that the tenants are sabotaging the sale for the seller? If so is there a way to see the place by going around the tenant?

I think it has a lot to do with location....some places are more prone to insect infestation...mold and foundation issues due to weather. Where I live most of the houses are old circa 1900 and up and a lot of them are in very good shape thankfully. Yes they do need updates but we aren't seeing too much damage due to termites as of yet. If the property has been lived in recently I don't think you'll have too much issues. Just make sure to do your due dilligence.

Hi Daniel,

This is a great site for learning the business. Good luck on all your future investments!

Chris

Hello,

I am looking to network with Investors, Real Estate Brokers, Insurance Agents and Attorneys in Western New York.

We are just starting out on our path to success and would like to meet some fellow Western New Yorkers!

Chris

Hi Michael and welcome to the club. I too am new to the site and just starting out with my real estate investment business. This site is super informative and everyone is very willing to help, I am sure you will find it very helpful!

With that being said....when financing the property under myself, will the banks have an issue with then quit claiming the property to my LLC? I have heard that in some instances they call due the mortgage? Does this happen often?

Thanks for you help!

Chris

So we are looking at buying our first property in Western New York. My question is....since we have formed an LLC should we try to finance it under the LLC or do we have to finance it ourselves then Quit Claim it to our LLC? I have heard both ways are possible, I have called Bank of America and they won't even deal with LLC's is this common?

Any help is appreciated.

Thanks!