All Forum Posts by: William Howley

Well for example if you shared the url, the person would be able to view all of the expenses you added when seeking advice. for example I send you a link and you notice that I am missing trash, renters insurance, and property has a private well needs quarterly well testing. due to the uniqueness of some properties there are expenses people forget. it is also more convenient to convey possible deals to other investors.

hi, in addition to real estate, I am a professional web developer. I often find myself calculating cap rates in excel. do you think it would be useful to create an online application that could allow you to input your cap rate information, see the results, and then save the cap rate profile so it was capable of sharing the link with someone? 

I understand that regular cap rate calculators exist, but does anyone know of a cap rate calulator that saves your information and allows you to share the links etc? 

let me know your thoughts!

Hi can anyone here forward me to a good company that offers personal umbrella insurance? I have a few rentals in my name and want to protect myself for a million or so.

Thanks @ramzi , yeah I don't have much of an option but to put them in my name and get some umbrella like you did. I think that's what alot of people do until they are bigger than 15 units or so.

This is an extension to the last post, hopefully can get some more insight to put new properties in LLC or not. Everyone seems to agree that putting a property in an LLC helps with some added protection, however I am getting nothing but issues when trying to refinance the property. Some banks will do it, but they are only willing to refinance for 1-2% higher than a circumstance in which the title is in my name, additionally it is a short term rate, like 5-15 years which is risky if interest rates go up (which they are). The LLC has been such as hassle in general, I am considering quit claim deeding the property into my own name and getting some general liability insurance. Any thoughts?

Hi, I am looking to purchase more property (currently have 3 units), but I am at a point where I need to decide whether to put the properties in my own name or my LLC for tax benefits / perspective.

Here is my current situation. 

I work full time 40hr/week w-2, and make about 100k. 

I have an LLC (wrapped in an S corp) in which I own 1 condo, worth 60k, with $860/m rent.

7/1/2016 purchased a duplex in my own name, worth about 130k, with 1560/m rents. 

I like the supposed protection of an LLC (although it might not actually protect you, different discussion), but I have experienced problems with banks getting financing for properties in LLC's.

Owning property in my personal name allows for easier financing, but more risk, requiring the future need for a personal umbrella policy. 

From a tax perspective my thoughts are.... it is wise to put the future properties in my own name because I will be able to use the building depreciation against my personal income. thus paying less taxes at the end of the year.

If I were to put the properties in my LLC would I be able benefit from the depreciation?

Any thoughts? 

@Jeffrey H. When you say "Or develop out in the ETJ or county where zoning is not an issue", What exactly is extraterritorial jurisdiction, is that just basically in the outskirts of the county, where the local governments might have more jurisdiction over the main county? 

Regardless, as far as getting started, if I were to target pre-existing parks, would my only option be to do owner-financing? I do not have have commercial income, and without this do not think I could qualify for a commercial loan (I am assuming a commercial loan would be needed to acquire a park). 

I thought @Michael Haynesundefined post was really useful, why the hate Brandon?

What is the minimum level of capital requirement to get into a small mhp? Ai have a few regular rental unit incomes but no commercial income. do these require commercial financing?

Hi, I live in Tampa, FL where mobile home parks are fairly common in some areas. I was wondering if it were possible to buy a house with like 10 acres or so, and then attempt to get the property rezoned to a mobile home park (MHP), to then transform it into profitable real estate. My question is, has any one attempted something like this and is this even worth pursuing? 

I figured my best bet would be to look at the future planned use zoning of the county, and make that a starting point since it would have a high likelihood of rezoning success.

The other question is how could I even structure a deal like this, because buying a property and then zoning falls through would leave me with a bad investment. If I made an offer on a property contingent of the rezoning success, which could take 90-180 days, I am assuming I would only be able to structure a deal like that if I had cash only, assuming that I would not be able to do FHA financing etc, since something like this is too complex.

Any experience and tips would be helpful thanks-