I am doing by the room as well and it has been a struggle to find a pm that will manage it! 

You can indefinitely defer the tax and use it to purchase nicer property/properties, as well as not have to recapture any depreciation.

It sounds like you navigated the challenges well and gained valuable lessons for your next venture.

We have six properties under management with JWB (five purchased from JWB) and “it ain’t going so well”.Ask Me Anything 

Again, this topic can be discussed AT LENGTH as well so let me know if you want to go further into it.My suggestion to every new investor is to trust your instinct. 

👏Regarding subcontractor contracts, it’s essential to have a well-thought-out document to ensure clarity and protect all parties involved.

You have used home equity lines of credit to purchase investment rentals and want to know the best way to pay down the HELOCs.Between the two properties you bought, after expenses, you have $250 a month positive cashflow to use.What I like to do is pay down some principal every month with my positive cashflow.I use my extra active income from real estate commissions helping other investors to pay down the principal even more which just frees up that credit for me to use again.I know I can refinance the HELOC debt before it changes to principal and interest as it is just interest only payments as yours are.One difference is the cashflow, I have greater positive cashflow and could make the principal and interest payment in the future with the extra cashflow I already enjoy.I always get HELOCs on my income properties as well after purchasing them to pull out as much of my downpayment as possible.

Local references are invaluable because those lenders have proven themselves in your market.Work with Reputable Companies: Some well-known DSCR lenders with a solid reputation include Lima One Capital, LendingOne, Kiavi, RCN Capital, Visio Lending, and Easy Street Capital.

Raising your credit score will get you far better rates personally as well as with private lenders for your LLC. 

Hi Penny i'm actually an investor that resides in Odessa as well and my realtor actually just sold a duplex recently and in that area they have several occupied duplexes and some for sale.