All Forum Posts by: Alexandra Sales

Hi! I’d also love any info on virtual meet ups for KC- if anyone knows of any! I am out of state so unfortunately can’t attend any in person. Thanks!

@Mark Ainley - BTW I was on the zoom virtual 'meet-up' with the Chicagoland Investor group that you did in October. Thanks again! Very valuable advice/insight. 

Great! Thank you for your feedback. I appreciate it. It seems like self showings are becoming the standard for large property management companies. It's good to hear there are few issues that arise. 

@Mark Ainley @Nathan Gesner It is in the contract if any damages occur during self-showings, they are not at fault. They haven't mentioned any insurance coverage? Are you meaning insurance coverage from the management company themselves? They use Rently and have over 700 units. Of course, we only have one property right now. But I want to be cautious and on top of everything before we continue building our portfolio and potentially using the same PM. Thanks!

Hi! 

Just wanted to know if self-showings are the trend or popular way of showing rental properties now? Ex: Rently etc. I wanted to get your insight if you either use this method or know your property manager uses it? Any advice, insight, or success/failures from it? 

I have spoken to a few property management companies - a few use lock boxes and do self-showings for tenants. These companies were referred, but I am still somewhat skeptical or hesitant on self-showings. Any advice is greatly appreciated! 

@Tanvir Sattar thank you! We actually have it as a second home. We were supposed to be part time in that city. But now with a few life events can't use it as a second home per se. So we want to rent it out. Do you recommend contacting the mortgage company/lender directly OR the broker we worked with? 

Hi all! 

This may be a newbie (silly) question, but if you decide to transition your second home into a rental property - do you have to refinance your mortgage into an investment instead of second home? 

@Arsen Atanasovski @Tom Gimer

Thank you for your responses! So if the seller has a mortgage on the property they cannot do seller financing? 

If they do agree to seller financing - the agents are still paid on that transaction? 

Hi All, 

I'm hoping to get some insight on seller financing. We found a property we hope to purchase and wanted to ask the seller if they're open to seller financing. The property has been on the MLS for almost 40 days now and if the seller agrees to seller financing, she may be able to sell it sooner. How does that work if she has an agent and we have an agent? Are they paid at all or are they removed from the transaction if they agree to go the seller financing route?

Thanks for your input! 

Thanks @Steve Morris... Do you mind explaining this a little further?

"Refinancing an LLC is not a problem since you'll have an operating agreement with named officers that the bank will conder on the personal side."

Do you have an attorney you may recommend that is real estate specific? 

@Mike S. thank you. 

We do not want to put it under an LLC right now because we hope to refinance once it is rehabbed/rented. Maybe in the future. So commercial interest rates are higher than investment property mortgages?