All Forum Posts by: Alexander Felice

Lots of questions go unanswered. Sometimes the people who see it just don't know the appropriate response and it falls too far down the line and just gets missed. 

Sometimes there are questions worded awkwardly and skipped for similar reasons, or the question is too vague, etc. 

It's certainly not personal!  search the site for your answer a bit and then try again!

My personal opinion is to always take business opportunities seriously. I also don't think it's good practice to antagonize people you're soliciting to, even if you think you're being subtle. 

but hey, that's just my opinion. 

@Dale Stevens is right. You shouldn't be getting involved or even worry about responses that aren't opportunities. 

in fact, poking fun or getting into an ego battle with someone like that could turn them from a unlikely prospect to a definite no. 

be polite, keep focused on what's important, and move forward.

CPA hands down. for me I have a simple return, just one rental and it costs me ~$350.

CPA offers peace of mind, efficiency, and my favorite is scale-ability. You have someone who can give you advice over multiple years and help you grow and knows your situation thoroughly. 

While $350 may seem high, it becomes more and more efficient as you acquire more properties and more complex tax filings. The economy of scale will work in your favor. 

I LOVE THIS IDEA MICHELLE! For my next turnover I am going to implement this. I haven't had problems with lockouts ever yet luckily, and hopefully never will thanks to this advice. 

I've found it's harder to borrow against investment properties without well established revenue stream. A heloc is for primary, but a commerical lender can do something similar with your investment properties. 

Have you talked to the commercial lenders. You can still borrow in your LLC name, it just won't be a traditional mortgage.

What does it say in your lease? I have a 2 day grace period and it's written on my lease. 

If your lease has no grace period, she gets a late fee. Just tell her that's whats in the lease and you feel it's important for both parties to stick to what both parties agreed to. 

relative cost makes a HUGE difference here. As others have mentioned a 50k property may cashflow well and be a decent house in a decent neighborhood....OR it could be the house that jack built in a slum and may or may not cashflow. 

The unfortunate answer to your question is that it's market dependent (imo). 50k where I live will get you a decent house in a B area that hits 1.6-1.75% rule. Other areas could be better, or could be significantly worse. You have to decide what factors are most important to you, and adjust what deals you look for based on that. 

I keep small reserves in an online savings account just about 1% 

the bulk I keep in a mutual fund that I have ~3-4 day access to. Liquid enough for me, moderate risk, decent returns. I much prefer to have being sunk into real estate but this is  adequate between deals.