All Forum Posts by: Abdul Mohammed
Abdul Mohammed has started 4 posts and replied 7 times.
Post: Anybody familiar with Ash Flat AR?
- Investor
- Louisville, KY
- Posts 9
- Votes 7
Hey BP in Arkansas - What is Ash Flat like? Is there any tourist attraction there? Population growth? I see jonesboro is about 100 miles away
Post: 5 units 2 buildings 1 parcel
- Investor
- Louisville, KY
- Posts 9
- Votes 7
I found a 5 unit property on a single parcel in the USDA zone, My question is about financing , am i still required to put 25% down with a USDA loan? Its an investment property, a 4plex and a sfh on the same lot.
Post: Newbie Investor .... Seeking advice about financing options
- Investor
- Louisville, KY
- Posts 9
- Votes 7
Dont mind my ignorance but why on earth would you quit your w2? Without a job your financing options are few and far
Post: Can I require a tenant to professionally clean/steam clean (PA)?
- Investor
- Louisville, KY
- Posts 9
- Votes 7
Quote from @Sydney Guzman:
I have received differing advice from other landlords and was unsure, hence my question.
Also, if I were to charge a non-refundable pet deposit, when a tenant vacates, should I be taking any cleaning fees out of that first vs. the refundable deposit? Like if they had a $400 non-refundable pet deposit and carpet cleaning and regular cleaning cost $325, and their regular deposit was $1k, should they get back $1,025? Or would the amount back be different?
The non-refundable pet deposit sounds like a fee, so I would deduct cleaning fees from any regular deposit the tenant paid
Post: Lending options for unrelated partners with no LLC
- Investor
- Louisville, KY
- Posts 9
- Votes 7
Quote from @Dylan H.:
Good question. Newbie here but I'd think you could jointly apply. Waiting for a pro to respond
Post: STR Market Eastern NC
- Investor
- Louisville, KY
- Posts 9
- Votes 7
What are you thoughts? Places like New Bern - Wilmington - Ocracoke
I love it there, but how’s the STR market?
Post: Lending options for unrelated partners with no LLC
- Investor
- Louisville, KY
- Posts 9
- Votes 7
Hello all - Excuses my ignorance but I would like some advice.
My partner and I are looking soon to talk with lenders for our first investment properties. My partner and I are unrelated and we don't want to form an LLC. Will this be an issue for lending? I know most recommend an LLC for partnership, & we plan on doing that after we get to ten loans in our own names.
Can we jointly apply for a mortgage if we are unrelated/unmarried? I know car loans allow a co-applicant but not sure for REI
Thanks in advance