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10 February 2025 | 6 replies
Make friends with some bank presidents, seriously.
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27 January 2025 | 7 replies
@Jeffrey Bourque Are you planning to finance this with a local bank or credit union?
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11 January 2025 | 8 replies
Most banks don't really know how to do that because they cater to SFH owner-occupants.
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8 February 2025 | 10 replies
As Jay mentioned they must be NMLS licensed if owner occupant of in several states even commercial needs licensing.The NMLS is like the database, each state has a division of banking that oversees lending requirements then you also on the federal level have CFPB as well as consumer protection laws.I want to add that I believe yesterday the CFPB is undergoing changes, but if it goes away that does not mean that many of the laws in place especially consumer protection laws would go away.
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3 February 2025 | 26 replies
With those numbers, have you checked with a local bank or credit union?
11 January 2025 | 12 replies
I think the LLC also makes it easier to open a local bank account, which is convenient to pay utilities or other local bills or your property manager, etc.
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20 January 2025 | 2 replies
. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000.
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17 January 2025 | 19 replies
Since i had capital and had access to my commercial banks for the best rates possible on vertical and horizontal loans..
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20 January 2025 | 7 replies
The value of your SDIRA may be too low, but I'd recommend Gary Mobbs at South Star Bank in Gonzales, TX.
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22 January 2025 | 8 replies
For bookkeeping purposes, I recommend designating a separate bank account exclusive to the house hack activities to keep some sanity.