Kent Verge
Old fire damage (repaired) found during inspection
We are in the inspection phase of a purchase (offer pending inspection) and found evidence of an undisclosed old fire in the attic that had been repaired. When I asked the seller about it, she said, "Oh yeah. I just s...
Bob Jovins
Transferring a deed into an LLC, but mortgage is not re-assignable?
Hello all, glad to be here. My wife and I recently moved, and we want to rent out our previous residence. It's a single family house in NY. The deed is in my name and my wife's maiden name (we purchased the house b...
Michael Elfant
How much do you think a full reno of a 2800sqft home should cost?
2800 sqft bi-level home
SCOPE:
Refinish floors
Open kitchen wall to dining room/living room
Rip up carpeting
Take down wall paper and refinish/paint all walls and ceilings
Add/Switch out 16 high hats
Update al...
Tyler Shane Martindale
What do you know about velocity banking strategy?
I recently heard of something called "velocity banking" where you use a credit card to pay off large portions of your mortgage or other loans, then use the credit card balance like a checking account. The idea is that...
Dan Handford
Have You Ever Heard of "Hidden" Concessions?
I was at dinner last week with an attorney who represents apartment investors in Altanta, GA. He brought up the topic of lawsuits surrounding apartment buyers/sellers.I asked him, "what is the basis behind some of the...
Sam Leon
Washine machines for landlords, front loaders, top loaders, HE models...
Fellow landlords, what is your experience on washers - if you have to buy one today for tenant use?I have a 20 year old washer in a triplex that has seen better days. Rust is basically eating it away, it is located i...
Mikey Liu
Cost segregation and how to keep rental losses in future years
Hi all - I understand the benefits of cost segregation in year 1 and how you can front load the depreciation of the unit. However, in future years, isn't the depreciation much less? If so, then how can one still maint...
Alain Perez-Majul
Provide washer/dryer or not?? Unique situation.
Hey guys!Looking for some $0.02! I'm currently finishing up a rental that should be ready within a week, and I'm still undecided if I should provide a washer/dryer or not. I would normally not do so; however, the thin...
Samuel Choi
Infinite Banking Concept [aka Life Insurance]
I recently listened to the Millennial Money Podcast where Chris Naugle talks about using a specific type of life insurance policy to "become your own bank" and build a foundation for wealthy building.The idea is that ...
Tony Kogan
Annuity
Hi,I was approached by the financial advisor from First Financial Group and she talked to me about the annuity. She said it pays 5% a year plus 6.5% a year rider. On the top of that the principal stays protected. I ha...