All Forum Posts by: Ryan M.

Has anyone used the free Wave (www.waveapps.com) accounting site? If so, any feedback (+/-) you can share?

I am considering bidding on a property at Auction.com. My question is... Is there any concerns with these as it relates to liens? Does the bank have to satisfy the liens as a part of the transaction, or better stated do I have any risk related to existing liens with buying through this?

I was putting an offer in on a Fannie Mae home and my realtor claimed they do not pay closing cost for investors. Can anyone tell me if their is any truth to this or is the realtor blowing smoke? Thx

Thanks Justin B, I would be interested to hear more about your financing if you are open to sharing?

For the rule of thumb, whether it's 3x or 4x, does that number assume your rent amount includes utilities? I have my tenants (SFH) pay all their utilities directly and curious to see how that would affect this, so what their paying me does not include utilities? Any & all feedback is appreciated.

Thank you.

For the 25%-33% someone uses, does that include utilities? I have the tenant pay all the utilities directly and wondering if or how that changes the formula? Any thoughts?

I've submitted an offer on a Fannie Mae (FM) owned property and I had requested seller to pay 2% of the closing costs. FM is countering and my broker is telling me that FM does not allow seller paid closing costs to investors?

Is there any truth to this?

thanks David

I have 2 residential properties but was told by lenders that if I wanted to put them in my LLC that that would be considered a commercial loan and not eligible for 30yr terms at current mortgage rates?

So they are in my personal name, but I do have an LLC.

I am wondering if it's possible or worthwhile for me (personally) to lease the to my LLC then have the LLC lease them to the actual tenants?? My thought (right/wrong) is that then the LLC would hold the liability to the tenant and not me personally and provide some asset protection? Thoughts, ideas, feedback?

Thanks.