All Forum Posts by: William Garcia

@Dennis Cosgrave- Hi Dennis.

Are you saying that (after verifying the loan documents) that you can buy a property in your name and transfer the deed/title to your LLC to shield you as the owner?

My thinking is very long term.

Acenario - if I were to be disabled and need long term health assistance.. if Lord forbid I needed a nursing home or assisted living as an example, can i do that to shield my ownership of property assets?

I know, this should be a question for my financial guy, but for now, you peaqued my interest and thought I'd get some feedback

@Michael Noto, question for you on this topic.

Is it the mortgage or the deed that protects (or shields) you, the owner?

I know the lender issue, but does the deed need try o be the same as the one on the mortgage?

Putting the final pieces together for our first rental property out of state ( looking at townhomes with reasonable HOA's and a growing population)

For the experienced Investors out there, what is your suggestion on the best loan rates -

I depwndent/ regional mortgage lender, go with a Major National bank or go with a local (where the property is located) community bank?

My first option is with my current lender who is a Bank In America 😉 that requires 30% down but that gives me a better rate. I can do the 30% but most others only require 20% maybe 25% for a better rate as well,still on discovery.

While I investigate, what are your experiences and suggestions? Thanks!

@Vincent Garman - what area of DE is your main focus?

I've been wanting to start looking as well, mainly rental income.

@Jennifer A Riley

Millsboro and Seaford.. I've been checking props online and I like your advice.

Would you be willing to work with us as our buyer agent in that area? We're determining when we'll be heading down to get the lay of the land, but in the meantime, please connect with me and when you can, let's talk about what we're looking to do and then pass some listings that look ideal.

Possibly, we may even want something cheap and just keep it for weekends and renovating.

Cool?

Hey there Luis

I haven't clicked on the link (that's just something I generally don't do) however, as a new investor, just my two cents for whatever it's worth.

For me, no matter what the "potential" is, especially since I can't predict the future, if I'm going to start out in the red right out of the gate whether until I get a tenant or if I inherit one, I hafta pass on it, and just concentrate on the ones that, NOW, based on my analysis, will produce positive cash flow.

 Like I said, for whatever it's worth - I wish you success!

Hi Jennifer.  Thank you for that feedback.  You're in an area that I will be interested in when looking for my residence as we do plan to retire down there - at least that's what we're thinking and yes that's a few years away, but to dip my toes in DE, I do want to look for a lower purchase price with an area that's reliable all year round with regard to tenants and rental income.  Do you consider Laurel and Seaford to be in those categories? 

@Jasraj Singh

Greetings Jas

I'll usually include gosection8.com in my analysis.

You can register for free and add an address of a prospective property w/ # of BR's

It then spits out local radius, 2 mile radius, then town and county for general numbers. I find it pretty useful.

I do get alerts from Redfin, unfortunately I'm not familiar enough yet with the lay of the land, what area's / zip codes are most in demand for rentals, things like that.  I'm expecting to visit the area within the next couple weeks, however, I'll still need someone's guidance to make some deals.  This person should also be knowledgeable to guide on the right property Managers.

I'm looking to connect with either a realtor with knowledge of the rental investor landscape, property manager or investor that's out of state but has properties in the Dover and surrounding area.

Is there anyone out there? Would like to chat.

Thank you Cam

what's the benefit, i assume it works for a short period. maybe while rehabbing, then refi? im trying to figure out the benefit other than low monthly payment since prin. doesn't go down