All Forum Posts by: Brian Lewis

For reasons that makes less sense now, we bought a few properties in her name only (deed & mortgage) but split all costs. Now we're divorcing and splitting the properties. As I'm not on any mortgages currently, how would I change that without more than doubling the great interest rates we currently have?

thank you!

For reasons that makes less sense now, we bought a few properties in her name only (deed & mortgage) but split all costs.  Now we're divorcing and splitting the properties.  As I'm not on any mortgages currently, how would I change that without more than doubling the great interest rates we currently have?

thank you!

I'm a long-distance investor and have professional property management in place.  Today, the PM pitched the idea of working with one of his wholesaler contacts to buy properties in a different market.  So far so good... Then he brings up that he would still be the PM.  I'm certainly no expert here, but that seems to defy logic.  Me spending money from a distance is one thing, but how do you manage remotely?  We have a call scheduled to discuss specifics, but I'm looking to get you guys' takes on the info i currently have.

thanks!

Hello BP,

As the topic says, I’m considering a cash for keys move with one of my horrible tenants. If they were to bite, can I them sue them for back rent? I’d like to get a paying tenant in the space, and recoup the lost rent. Not looking for legal advice specifically, so I guess the better question is... has anyone done this before? Did it work?

Thanks!

Thanks Ozzy!  Yes, the inventory is not at ALL what we would like to see now, but there is always a diamond in the rough.  We will keep plugging away

@Sam Lewis

Thanks! If only I had a pipeline of deals that met these numbers ;)

@Tim Jacob

Current places are in 21213. I like the area. We have a PM in place, Propertywize, already. Any tips, leads, etc. are definitely welcome

@Sam Lewis

Sorry I wasn’t clear. I own those two right now, and would buy another one every few months, if they were available.

Good Day BP!  I almost feel silly asking this, but here goes...

I will be moving overseas very soon & my company is picking up the tab on the new place.  Due to that & a couple other factors, i will have some extra cash to be used in our buy & hold investment strategy in Baltimore.  I am only interested in turnkey (or just carpet & paint kinda places) primarily because we will be really far away & just haven't built a network of trusted professionals.

Right now, here are the numbers:

2br SFH - $600/mo cash flow - 14% cap

3br SFH - $550/mo cash flow - 12.5% cap

$6k/mo allocated for ongoing RE growth.

Knowing what you all do, what would you recommend for someone in my shoes?

thx!

Brian

You guys are great as always, so thanks! I have a followup though. So, the house sold for $30k over asking, which is great. Again, I will have no primary mortgage to pay for the foreseeable future as my new housing is covered by the company.

The question centers around that extra $4.5k/mo I'm not spending. Not sure if it makes sense to pay down two SFH rentals we have. Mortgage is approx $600 on each, so we could double, triple, even quadruple month payments on each. Any strong arguments either way on this idea?