All Forum Posts by: Thomas Roberts

@Ron Russell

I read an interesting article about how big banks are worried about multi-family because of student debt. If that is the next bubble, there may be a risk of colleges and college towns drying up. Ripple effect could affect all/most college towns. Food for thought.

I prefer single family in blue-collar area. Also, look at debt strategies... I think there are only two options

1. Hoard cash / wait for market turn

2. Lock in low interest long term debt (also helps #1 if you’re re-fi’ing)

Odds are you will be fine either way. Economic cycles never stop spinning.

@Joe Splitrock

Thanks for the advice! Yeah I’m pretty leveraged on those properties but have other assets under my personal name that I’ll need to safeguard.

I currently have 6 single family rentals and 2 flips at the moment. My goal is to start treating real estate as a separate business (I also have a day job).

I have an LLC set up with a bank acct and all that. But the issue I'm running into is I can't transfer the properties to the LLC for a number of reasons (I have 30 year mortgage on all of them, except flips obvs). My LLC's and properties are all located in Houston TX.

Issues

1. Notes will be callable by lender

2. Title insurance will be canceled and that will notify lender, and then I’ll have to buy 6 new policies at around 1k each

Questions

1. Would it be better to “re-fi” with a blanket type Mortage product? It would need to be around 25-30yr amortized and under 5.5% to keep similar cash flow.

2. If I keep the properties titled under my personal name, can I still write the leases between my LLC and the tenant, leaving my personal name out of it?

3. Are there any angles I’m missing? I’m trying to scale this to 10 rentals once my flips sell.

Open to all suggestions. Thanks!