All Forum Posts by: Alexander Lang

Hello BP, 

My tenants are responsible for Lawn and snow at my SFR in the Minneapolis area.

Just in the gathering of quotes/rates at this time and curious if anyone has any recommendations? 

Thanks all!

Thanks for sharing @Doug Schorr, I was not aware of the costs of a Cash out refi as I have yet to do one myself yet either

Ill have to remember to leave my paint cans upside down now... awesome tip!

Nice work @Jason M.! that turned out great!

Does anyone think its easier/faster to leave the trim on the walls or take them off to paint? 

Looking into doing this to my own house since I am cursed with the golden oak throughout (built 87') 

Thoughts?

Hi @Charlotte Chew, I use Cozy.co. Its free (unless you want to pay for faster payment) and you can store all of your docs (rental agreement, disclosures, etc) on the site, along with maintenance requests to and from your tenant which is really nice! Best of luck!! 

Hello all,

So I was applying for a business line of credit with my bank and they offered me $30,000 on a line of credit.

My question to you is, do these fee's associated with having the line of credit seem: reasonable, OK, or too high? 

I would plan on using this for either down payments or renovation costs for my next rental property.

The only reason I ask is that I have a personal line of credit through them for $10,000 with no annual fees (but 11.5% APR)

• -Minimum monthly payment is 2.5% of outstanding balance on lines of $100,000 or less.
• -Fees: A $150 annual fee applies to lines of $50,000 or less.

Any input would be greatly appreciated!

Thank you!

Hi @Kole Kingslien, I also enjoy using Cozy for my rental. It helps to store said forms, make maintenance request to or from tenants, and also collect rent from tenants should they elect this option. My tenants LOVE it as it also helps to build their credit history as well. Best of all it is free (unless you want the funds deposited faster than 7days) 

Best of luck!

Hi @Troy Horne, I have that same nagging fear as well. I am currently researching a new market and that is my #1 fear in not finding tenants to fill the property. One thing to add is that city requires owners living further than 30miles from the property to have an agent (property manager) in place on the property so I am in the process of gathering who does the management in that area (if any) and setting up questions to ask them. Often I found when you step back and take it piece by piece day by day it is much more easier to manage. Best of luck!

Honestly analysis paralysis is my main anchor. I've since been taking steps by talking with more advanced investors and getting my financing all set up for my next deal! 

Welcome @James Fraundorf! I think your idea to get into real estate investing by house hacking is awesome! Yeah and I would second what a couple folks mention about staying away from over borrowing on the student loans for sure since those loans are for life and cannot be wiped out even with bankruptcy. Best of luck to you! Keep us updated!