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1 May 2024 | 16 replies
These policies are often designed to protect the lender's interests and mitigate potential risks associated with non-owner-occupied properties.Exploring Alternatives with Chase: Since Chase is your mortgage servicer, it's essential to continue trying to communicate with them to understand their specific policies and requirements.
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1 May 2024 | 8 replies
Sometimes, that's going to mean going off-market and doing direct communications with the owners of the right places to see if they may be willing to sell.
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30 April 2024 | 9 replies
Hey @Amir J Reichental, There are small pros and cons to this: Home Address:Pros:Privacy: Providing your home address keeps your personal information private, as it's not tied directly to your business.Convenience: If you're already receiving mail and other communications at your home address, it may be more convenient to keep everything in one place.Cons:Risk: Using your home address exposes it to potential risks associated with the property owned by the LLC, such as lawsuits or creditors targeting your personal assets.Tax Implications: Depending on your jurisdiction, using your home address could have tax implications, especially if you're claiming any tax benefits or deductions related to the property.LLC Address:Pros:Asset Protection: Using your LLC address helps separate your personal assets from your business assets, providing an extra layer of liability protection.Business Image: Using the LLC address for business-related documents can help establish credibility and professionalism for your company.Cons:Public Record: LLC addresses are often part of public records, which means they may be more accessible to anyone who wants to find information about your business.Mail Handling: If you don't have a physical presence at the LLC address, you'll need to ensure mail forwarding or a reliable method of receiving important documents.Ultimately, the decision depends on your specific circumstances and priorities.
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30 April 2024 | 7 replies
I'm ok with that as long as they "own" securing the subcontractors are regularly on-site and provide good communication back to me.
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30 April 2024 | 12 replies
Good communication with tenants that sets expectations is also useful.Belts and suspenders . . .
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30 April 2024 | 27 replies
I think it comes down to good communication both ways.
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2 May 2024 | 45 replies
Communicate well and perform when you say you will and they will reach back out to you for additional deals.
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30 April 2024 | 5 replies
Prioritize the lender that communicates well and actually answers your questions correctly and in a timely manner.
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30 April 2024 | 99 replies
It will not be easy finding a good property, but we started communicating with some local agents.Sale price was $68,500, rent for the property is $650, cash flow should be around $230 per month and it appraised for asking price.