All Forum Posts by: Daniel Vandenbos

@Sierra Williams FSBO can be tricky, many times it seems they want top dollar for a property and don't want to pay a realtor commission. Are you sure they even have a loan on the property? If it has your attention it would be worth a few minutes of your time to give them a call and try to find out their situation to see if you're able to find a good solution for both of you. Best of luck!

@Gregory Fazio As far as a CPA goes, I’m in the same boat as you. A good CPA from what I understand doesn’t really need to be state specific and a lot of real estate investor friendly CPAs will do work in any state because it’s more important on the federal level, states just have smaller deviation (again, from what I understand)... That being said, try giving a listen to “Real Estate Hackers” pod case Episode 3 Hosted by Slatehouse a relatively local PM company and present on BP. The interview is with A real estate focused CPA out of Freehold (not super local but worth looking into. Best luck!

@Margaret Azzano you can totally refi under an LLC. The rates/terms won't be as favorable as a residential mortgage, it really depends on your situation. If you have nothing to really protect (equity or other personal assets)!I wouldn't really stress a LLC.

@John Robb

I would reach out to multiple lenders to make sure you’re able to refinance out of the property to play it safe. If you’re able to find a couple lenders who will refi for you, and you see it as a good deal I would move forward. Wish you the best!

@William Keeler Congratulations! Sounds like a win to me. I’m currently house hacking in Alpha and starting to look again in the P-Burg/Easton area. If you would interested in connecting shoot me a PM, I’d love to chat more!

@Charlie Moore Interesting question. I’d assume that would technically be discrimination based on income, I could totally be wrong, maybe you’ll get an award for descriminating against those NOT living on government subsidies... I’d think you could set your income criteria for renting high (4 or 5 times monthly rent) to have a reason to disqualify or deter non sec. 8 tenants.

I think a truck is invaluable. No need to go broke having one. I drive a 95 Ram 1500 with over 300k, and it’s my daily driver. There is no way I can justify spending over $1500 for transportation. No one can truly tell you what’s right for your situation.

@Danielle Levins that’s a fantastic idea! Thank you, I think that would be a great touch!

Hey, BP! First time trying to structure a owner financed deal. Quick story, I was walking by a rental located near my house, found a For Rent sign. Did some research and found the owners are an elderly couple. I reached out to inquire if they would be interested in selling, the wife seemed very happy and we had a great conversation, she advised they were discussing selling. I called back later as agreed to speak with the husband who agreed they have 3 properties they are possibly interested in selling, totaling 7 units...

To the question... They want to wait until spring to do anything, and they took my information and said they will be in contact by the end of the year. Overall I’d say the conversation went extremely well. I set on my calendar to reach out to them the first week of December. In anyone’s experience is this a reasonable timeline? I don’t want to fall out of good graces.... Thank you!

Gas dryer is also an option to consider.