All Forum Posts by: Brad Sparks

I'm currently with Regions and they're fine for a traditional bank but I find that they don't do heloc on rentals, only cash out. What bank do you use and what are the pro and cons that you've observed?

My go to is Katie Beeler from Knox Native Real Estate. http://www.knoxnativehomes.com She's made my purchase quick and easy. 

For the first time since I've had this house (four years), the tenant has to pay what's above the voucher ($23/month). I plan to send a letter giving them options on how to pay. In the lease signed in 2019, we left the section on rent blank because she wasn't paying anything. Do I draft a new lease with the information filled in or will a letter due?

I've had this rental for three years. Year one and two rent was $775. I increased rent last year to $850. The current rent voucher for the area is $1198. Would you request a rent increase to $1198 or increase it steadily to the voucher amount over another 2-3 years?

Two years of net positve and Fico score of 720. 

Home equity line pros: 1)revolving line 2)housing prices are high so less risk of bank closing line

Fund and grow: 1)business credit instead of personal credit 2)paying no interest on money

I think that using fund and grow would make it feel that it's a legitimate business. What are your opinions?

When did you "feel" like an investor?

(Talking to myself)I am an investor. I have two properties and a tenant. But I don't "feel" like an investor. I'm using my personal address, phone number, and bank account so it "feels" more like a side hustle than an actual business. Would a LLC make me feel more like an investor?

Who else felt this way and what processes did you implement, short of creating a legal entity, to make it feel like a legit business? 

@Jared W Smith Good advise. Thanks

I have a rental for two year and I have a flip that I'm slowly working on (money?). For EIDL I need to prove that it's a business. I thought that I bought a rental, I'm an investor, I owe a business... So how did you make real estate a business?

Thanks for all the good advise. Hope I can find one with all the new cases there. Thanks again.