All Forum Posts by: Tony Zhang

Hello Fellow Investor, I have a rental property with some equity in it, can I get the HELOC from it approved then transfer it to the LLC? or transfer it to LLC then go do the HELOC? Any recommendation? Thanks

I just closed a property with a tenant in it. The tenant send us a list of maintenance issues that they want to get repaired. I'm not sure how good or bad this tenant will be. As a new landlord I need your advise, do I need to get her maintenance issues repair first or can I get these items repair after she pay her rent to me first?

Hi Dear Investor, I need your advise! I'm interested in a property in St. Louis area (63138) that has been on the market for more than 80 days; originally it's listed for $155k, after that it was constantly drop the price every other week, to $150k, then to $145k. Last week, when it drop to $135k I made a offer of $125k. Seller accepted my offer, and today I got the inspection report back and it let me worry if it's worth my investment. This property is a duplex with tenant occupied in unit A, and unit B has been rehabbed. But, the issues with this property is their Roofing is bit old more than 20 years with a lot of patched all around the roof, and both unit's basement floor is covered in water with 1/2 to 1 inch deep (unknown reason). Also, there's molds in the basement overhead and on the wall. There's other issues from what I see from Ledger the Tenant in Unit A always not paid rent on time and with more than $2,000 balanced past due, also doesn't has security deposit holding. I'm an first time out of state investor, and this duplex seems like a good cash flow. Its total rent was $1800/month in 2020 with purchase price of $125k. Should I need to worry about the potential issues of mold, roof age and tenant issues? What do you think my options will be for this property? Should I move forward with it or sign mutual release?

Thanks,

Tony

Is it too late to set up LLC when it's under contract?

I have a property currently under contract will closed within 20-30 days. I've heard a lot of good thing of setting up a LLC to protect my asset. I also heard that setting up a LLC will take about 3-4 weeks, Am I too late now to set up the LLC to have this deal's title under the LLC entity? or It's better idea to put it under my name first then after closing transfer deed to my LLC?

Appreciate your time and insight

I just purchased my new duplex property, does anyone have recommendation on which insurance providers offer good landlord insurance with high Liability with low premium?

Hello Everyone,

I have an question about investing portfolios vs single properties: I'm interested in two properties from a portfolio but this portfolio requires a minimum of 3 purchase which total purchase price will be around 280K with good appreciation, but I'm also interested in a duplex with good cash flow which cost around 150k but this property is located at where I have already invested. However, I'd like to looking to diversify into real estate and invest in a different market, and the portfolio's properties are in different market.

Which's the good deal for me and how will you choose?

Thank you.

@Jason Shackleton what lender did you use?

I'm looking to invest a duplex and its asking price is $100k. Do you know any lender that offer rental loan without personal income verification?

Hi Fellow Investor, 

How did you find lender that offer investment property rental loan and what lender do you currently use for rental property mortgage with no min. loan amount?

Hello @Scott Trench, Thanks for your comment. Yes you're correct, I'm new to invest in real estate and My concern is If I choose to go with listing agent, will there be higher chance to got this deal since the seller doesn't need to pay additional commission to the buyer agent? Also, how or what should I do to increase my chance to get my offer got accepted? Thank you.