All Forum Posts by: Tony Roddenberry

Thanks Chris and Eugene for responding. I had heard of Cozy before but didn't know about all the services they offered. I would like to hear more about the online payment process if anybody has had any experience with it. 

TurboTenant looks to be a newer company that is trying to catch up with cozy. Their site has a better feel to me and I hope they get their pay on line feature up and running soon. However they are a bit more pricey when it comes to background checks.

Thanks for the input. I will check out both Cozy and TurboTenant. I really like the idea of the prospect paying a third party direct for the background work. And it will save me some time as well.

I close on a property next week that I plan on renting. I'm looking for some feedback on smartmove. Cost? Pro's and Con's?

Any info will be helpful.

Thanks

Tony R

Thanks Brandon. We are setting up an LLC now. Seems like I'm doing things in reverse but I will get there all the same. Will the self-employment tax be avoided using an LLC? Shame taxes take so much of your profit! That's gonna make it harder to turn another deal....

I just sold my first flip! Was able to get a great deal on a MH and turned it for a great profit.  Was all in at just under $50,000 and sold it for $75,000.  Now for the sad part..... TAXES. How much should I set aside? I took a big pay cut to position myself for doing real estate so I'm guessing my net income will be under $75000 unless I can find another good deal. If that happens I will still be under $100,000 filing married/joint. I believe Georgia has a 6% rate.

That's what I'm concerned about. Fees! And the fact the loan starts all over again and it will take longer to pay it off with all the intrest I have to pay. I would love to do away with the balloon but I'm not sure what would be the best way to go. I'm not to concerned with cash flow on these two. Just want to get them paid off  so my 2 and 4 year old kids can have some collage $$$. Do banks ever do 15 yr fixed on investment loans?

Thanks Andrew.

I like the name of your company. How did you come up with it?

I have two buy and hold properties financed at a local bank. Both are 5%Apr set up on a 20 year am with a five year balloon. As a newbie I took what I could get. Is this a good deal or a bad deal? 

I have been running cash on cash and cap rate numbers on a 15 yr mortgage. Is this a good number to use?