All Forum Posts by: Bret Halsey

Quote from @Dave Foster:

@Bret Halsey, Why don't you simply purchase the LLC. That way the loan and ownership of the real estate doesn't change. If the LLC is a single member/single asset LLC you could purchase the LLC membership interest. And the seller could also do another 1031 exchange even though he's technically selling the LLC not the asset.

Makes sense, I'll see the structure of the LLC. In that case would I have to obtain new financing on my own? Or could I purchase the LLC subject-to the existing loan and seller finance the difference in equity?

@Account Closed As long as I keep up the payments the loan servicer will not do anything though correct? And I should have mentioned but his 2 year holding period would be up by the end of this year.

I'm speaking to an owner who bought a property through 1031-exchange and has a 2 year required hold period due to owning it in an LLC and being a "related party". Could I purchase this property subject-to the current mortgage to avoid triggering the due-on-sale clause as well as maintain his holding period requirements? What other ways might I be able to acquire this property while keeping his tax strategy intact?

@Michelle Fenn Ok thank you! So there's about $600/mo or so in owners expenses, 10% PM, 10% maintenance reserves, and some allocation for vacancy that you subtract from your gross rents to get the NOI?

@Michelle Fenn Are those 6 units all 1 bedroom? Are separate furnaces and HWTs common?

Looking at a couple 4 and 8 unit properties and was wondering what might some of the utility bills look like and what is standard to be in tenants name or charged back to them. Curious about monthly water bill per unit, electric, heat, trash, sewer, landscaping, and any others I might be missing. Also is it as easy as calling the city/utility provider to get this historical info for a particular property?

Many of the lenders of investor loans I've been speaking to will mostly/only lend to a business such as an LLC. I've heard a couple investors talk about having an LLC for rentals, and one for flips. As someone who is looking to do both, is this a good strategy? What are the limitations of it for # of properties, scope of business actions, etc? I'm also planning to spend money to help me acquire properties (direct mail, off-market lead gen...), would I want to set up an LLC for that as well or could I fit that into another so I don't have so many?

If I don't have MLS access, what's the best way to figure out what ARV might be on a house I'm contemplating for a flip? Also for estimating a rehab budget, how should I go about doing that? I know there's different formulas for figuring out my MAO, but I'm having trouble estimating these keys #'s (ARV and rehab cost) due to inexperience. Thanks!

Hello all, I just moved to Ohio from Utah and was surprised at how many great real estate markets there are nearby! I've walked a couple properties right near me, but I'm curious if other investors in this region have a preference for one of these markets even if it's not the closest to them and why. I'm planning on getting into a couple flips and BRRR opportunities over the next year and am considering days on market, median sale price, rent potential, and landlord friendliness. Would love to hear the different reasons people have for investing where they do and their experiences.

Looking to invest out of state and wondering what processes others who have done this went through - what went well and what obstacles you faced. Also how does the market you chose perform compared to what you expected and would you do anything different regarding your market/strategy choice?