All Forum Posts by: Therese V.

 We  have the reserves. We had to put a new roof on another rental last year and some siding. Paid cash and figured this time to finance and take it out of the rent in order to save the reserves just in case.

 It's abut $14k and I'd rather not spend our liquid cash if we can get a loan at 2-3%. I feel the interest would be worth it in this case and just take the payment out of the rent for the term of the loan.

1. We did that last year, this year we really need to get the roof.

2. We just switched insurance companies so I don't want to try this and raise suspicion due to all our houses be insured by the same company. 

3. Commercial loan? What kind of terms should I be looking for (length and interest rate?)

4. What is a signature loan? What kinds are tax deductible?

We have a property that needs a new roof. I don't want to use our own money to finance this and the roofing company does not do payment plans with investors.

What suggestions do you have to finance the roof? It will be about $14k. I was thinking a HELOC but not sure if I can get one on rental property, how would that work? I also had the thought of maybe going to a credit union for just a loan, but not sure how that works either.

Any suggestions other than just using our own capital?

 Agree. And the CPA has a fiduciary duty at that.

 This article says that the former tenant and the handyman were related and that the handyman hadn't heard from the lady that day (apparently she was the type of landlord that called everyone, including tenants, daily?) and had them do a wellness check on her and that's when authorities found her dead.

Either way, puts things in perspective.

 How many hours do you think it will take you to do versus the skilled guy at $50/hour? How much is your own time worth? I'd be leaning towards just hiring him to do it again if you're pleased with other work he has done. 

As you buy more properties you're going to be spread thin on doing things yourself. It's better to start creating a team you can trust now.

Just read this article. This is why people in the D neighborhoods carry guns to collect rent. Another reason why I couldn't own in those areas.

Does this happen often?

http://www.chicagotribune.com/suburbs/post-tribune...

http://news.investors.com/ibd-editorials/010716-78...

The above article explains a new program Fannie Mae will be instituting that allows people to come together (whether related/living together or not) and pool "income" amounts to qualify for mortgages.

The article poses the idea that this is what called the mortgage crisis and huge increase in foreclosures across the country from 2008. What do you think this means going forward? Will the same thing happen again this time?

 You can get one mortgage to cover multiple properties and that would count as 1 towards the 10 limit?