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All Forum Posts by: Tony Hightower

Tony Hightower has started 9 posts and replied 72 times.

Post: How Long Did it Take... ?

Tony Hightower
Posted
  • Rental Property Investor
  • Clarksville, Tenn
  • Posts 72
  • Votes 34

@Spencer William Quesenberry

4 months!! I started learning in Feb 2017, had a contract in April and closed in June.

Just closed on 9 units in June and 9 this week.

Post: Where do you park your excess cash? Money market or savings?

Tony Hightower
Posted
  • Rental Property Investor
  • Clarksville, Tenn
  • Posts 72
  • Votes 34

It's not a saving. A checking that does not require direct deposit.  And yes they lower it after 20k. But, it can add up if trying to stay liquid.

Post: Lease Break by Tenant

Tony Hightower
Posted
  • Rental Property Investor
  • Clarksville, Tenn
  • Posts 72
  • Votes 34

@Ravi Kiran I would also tell her it is policy to forward all deposits due to new address. Get her address and give to attorney so she is not trying to hide . Her dog bit someone on your property. (You allowed dog or did not evict for having) if they cant find her they may come after you.

Post: rental income quetsion

Tony Hightower
Posted
  • Rental Property Investor
  • Clarksville, Tenn
  • Posts 72
  • Votes 34

@Ashish Acharya what if your income/AGI was 125k. So, part of deduction is phased out, does that part also carry forward?

Post: Where do you park your excess cash? Money market or savings?

Tony Hightower
Posted
  • Rental Property Investor
  • Clarksville, Tenn
  • Posts 72
  • Votes 34

@Brian H. Find a smaller local bank or credit union.

My personal CU pays 2.5%-2.75% up to 25k.

My rental small bank account pays 4% interest up to 20k balance. Only requirement, I use debit card 8 times month for little stuff at convenience store.

Post: Referral Fees on Multi family

Tony Hightower
Posted
  • Rental Property Investor
  • Clarksville, Tenn
  • Posts 72
  • Votes 34

@Taylor L. That may be the route I take. If I am not buying though, I would just want to pass along quickly. Not really interested in the wholesale side. Only other option is hope seller can hold off 5-6 months and I can purchase. But, I think they want out so they can move.

Post: Looking to invest in Milwaukee...

Tony Hightower
Posted
  • Rental Property Investor
  • Clarksville, Tenn
  • Posts 72
  • Votes 34

@Marcus Auerbach Hey Marcus, I will respond. Clarksville can be a good market. But, what you are seeing is not necessarily what we see here. Right now, you may see a few for sale at .8 % of rents. Rents can vary widely even on same street.(3 br can be $725-950 or $950-1150).

There are opportunities for off market still that can bring much higher ROI. I have found several of these recently.

My guess is that he is looking at Milwaukee because of higher potential for increases in rent vs Cville. Rents here have traditionally moved slowly and we have an enormous amount of new construction going on in SF and MF. Also, is there a turnkey company in Milwaukee? That may be another factor.

Post: Referral Fees on Multi family

Tony Hightower
Posted
  • Rental Property Investor
  • Clarksville, Tenn
  • Posts 72
  • Votes 34

On my local social media I see investors offering referral fees for leads on properties.

IF I had a lead on 2 duplexes that are running rents around 1% rule, what would I or another investor expect to pay or be paid for the lead?

How do you collect? Would there be a contract or do I need to become a wholesaler (which I do not want).

Reason I am not buying(but would really like to) is because of 2 recent MultiFamily purchases and need to wait 6-12 months to refi and redeploy capital.

Post: Ohio River parks plan in Clarksville secures land for first phase

Tony Hightower
Posted
  • Rental Property Investor
  • Clarksville, Tenn
  • Posts 72
  • Votes 34

@Brett Sayers This is in Clarksville, IN not TN Montgomery county.

Post: Seller behind on payments

Tony Hightower
Posted
  • Rental Property Investor
  • Clarksville, Tenn
  • Posts 72
  • Votes 34

@Fili Aguirre you don't need to get them out of foreclosure. Write a contract, take to title company and have their attorney call and tell mortgage company you have a contract and get to hold foreclosure so you can close.

"I am not a lawyer and this is not legal advice." Just what I would do.