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7 February 2025 | 6 replies
It sounds like you’ve got a solid foundation with your rental property, and I love the ambition behind your plans to build a property management and maintenance company—it’s a great way to take control of your investments while creating additional opportunities.Best of luck to you!
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6 February 2025 | 2 replies
Their fees and interest rates were high, but they had the least restrictive approval terms from what I gathered.
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27 January 2025 | 3 replies
I've got about $525K in equity in the property, but lenders have told me that I cannot get a HELOC to access that equity for additional purchases because the duplex was financed as an investment - they have said TX law dictates that HELOC can only be used on primary residences.
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7 January 2025 | 16 replies
Quote from @Sami Gren: I start by making the original tenant fill out a form requesting to add a new renter, and they pay me a $50 processing fee (I charge a $50 fee any time I make changes to an existing lease).
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20 January 2025 | 2 replies
I'll settle for a variation of this and give a little, but I simply pass on PMs who hand me a term sheet with 10+ different types of fees.
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7 February 2025 | 1 reply
Hello AllI have a opportunity to purchase a 3 unit rental property. how should I structure the offer and what should be required in it.Does the seller provide a fee and clear Title with Title insurance, should the seller be required to evict the tenants before I purchase, what verifications or contingencies should i include. etc......ThanksJeff
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7 February 2025 | 7 replies
(replacing the original HELOC debt) However whether the interest for the additional $200kish of loan will be deductible will depend on 2 things: -How were the renovations paid for?
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7 February 2025 | 14 replies
Quote from @Eric Huntermark: Additionally, as I'm thinking about conventional loan products as well.
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14 January 2025 | 7 replies
Separate accounts per property incurs a lot of overhead, such as minimum balances or fees for missing the minimum.I use separate accounts for each tenant's security deposits.
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6 February 2025 | 4 replies
Additionally, interest-bearing accounts may be mandated in certain jurisdictions, so it's important to check local regulations to ensure you're handling deposits correctly.