All Forum Posts by: Brandon Ingegneri

This really all depends on the condition of the real estate and how many buildings it is divided amongst.  If these are properties needing work and are more labor intensive, then I would say that is where most of the work lies.  If this is an established, relatively low maintenance portfolio, I would just consider giving her a maintenance contract.  You set up automated rent payments to you.  Your wife deals with the leasing as you like, and you maintain bookeeping.  Create a service contract with her where tenants know to contact so and so as the third party maintenance liaison.  She deals with all of the nuisance calls, repairs, etc.  I think a small monthly fee and standard 20% mark up on services rendered would be reasonable if this was the road that you went down.  

Quickbooks. Or you can just use any online invoicing software if need be. 

I don't care about the score.  I care about transactional history.  Does this person make an effort month in and out to meet their obligations.  A credit score can be in the toilet for any number of reasons, but the history doesn't lie.  It tells the entire story. 

do it.  period. 

floating floor. 100%.  Don't skimp though, get a good one.  They last. 

What you essentially were being granted was a homestead exemption.  Technically, it is illegal to utilize the exemption if you don't qualify.  However, I know that some communities only require a utility bill or vehicle registration to document homestead.  Having said that, I would also inquire about a military tax exemption.  Some communities do offer this as well. 

A bank will give you a % of the equity in a property.  They will issue you checks against that equity or just provide an account to transfer funds from.  You will incur interest charges on the money that you physically utilize from the account.  Your monthly payment will be interest only.  Once the principal is placed back into the line, you no longer pay interest on that money.  Typically, a heloc has a 10 year term. 

Were out in the trenches grinding deals out. 

I have bought several of these.  Everything is dependent on how extensive the damage is and whether or not it is structural.  If its a kitchen fire, not a big deal.  If it is getting into the structure of the building and there is extensive smoke and water damage throughout, then the price would need to reflect that. 

Thank you very much @Dennis M.