All Forum Posts by: Brad Spies

Thanks for the reply Bob! Question… if the title stays in the sellers name on a lease option would I be able to claim taxes, insurance, or depreciation? 

Good Morning all, I am trying to buy my brother-in-law’s Airbnb and would like to utilize a wrap around mortgage to take advantage of his 3.25 interest rate/30 year mortgage. The loan is held with Chase bank. We are going to contact the bank today to see if this is approved with this loan type. He bought it as a second home (10% down). If approved could we just treat it as a land contract and go through a title agency. Thank you in advance for any insight. 

Hello, I'm looking for rental insurance on 15 units (3 SFH and 6 duplexes). I live in Saginaw Michigan and would appreciate any recommendations. Thanks in advance!

@Ashish Acharya Great! Thanks for the quick response 👍🏻

Hello, if I pay off a rental property I’ve had for only a few years, would I still be able to claim depreciation on the remainder of the 27.5 years ?

@Joe Splitrock Great advice! Thank you very much 👍🏻

I recently had a tenant lock herself out of her house at 9:30 at night. Luckily, I was available and only live a few miles away to come unlock it for her. Does anyone have a good system in place to deal with this. I’ve talked with our local locksmith in town and they only take calls during normal work hours. Me going over to unlock it even if there is a fee is not ideal to say the least. Any comments would be appreciated!

Hi Julie, I'm a RE investor in Saginaw Township. I highly recommend Julie Briggs with Burkeshire  Hathaway. She is a investor herself  and is very knowledgeable about the area.  I have done many deals with her this year including closing on one tonight at four. Let her know Brad Spies referred you to her. Good luck! Let me know if I can help. 

Hello, I have a question that maybe someone can shed some light on. I have heard that the new Trump administration might try and pass a law to get rid of the 27 1/2 years of depreciation on houses. Instead being able to write off the full purchase price in the first year that the house was purchased. If this happens next year say, what would happen to the depreciation for the seven units I bought this year(2016)? Any insight or comments would be appreciated. Thanks.

I have five rental properties that I purchased in my name in the last eight months. I am moving them all into my LLC and I am looking for an insurance company that insures with a good rate for the purchase price. Any help would be much appreciated. Thank you!