The lender assessed value, then opened a $175,000 line of credit with those properties as collateral.

For primary residences, taxes paid equal 4% of the fair market value of the home times the local millage rate plus any other local district taxes assessed, such as for fire or police, but with a school district tax credit.

In many places the assessment process is done with limited and incorrect information in part because they don't have the right to enter a property unless the property owner chooses to allow it.

I also asked about any plumbing issues, which I would get inspected during the due diligence phase, along with other major concerns.While I don't have much experience assessing houses and determining the extent of repairs, I’ve spent a lot of time in stores like Home Depot and Lowe’s.

Quote from @Gregory Schwartz: I agree with your assessment.

More so just heard that if you transfer title into LLC it can “uncap” the property and cause a new tax assessment the following year and raise your future tax expense.

If caught, assess a fine.

I'm particularly passionate about growing quickly from SFRs into Multi-family and currently developing tools to source and assess deals.Outside of real estate, I enjoy long-form conversations with brilliant people, or at least watching them when there aren't other people around to converse with.

You are correct in your assessment of the area.

As a private lender with experience in the industry, I’m here to help you navigate your journey, whether it’s assessing potential properties or securing funding for your investments.With your background as long-time listeners of the podcasts, you already have a solid foundation.