All Forum Posts by: Account Closed

Not that I know of. It’s pretty much treated as a savings account. Check with your bank for more details. 

Having a separate business account for your rentals I feel is a good strategy. 

You can have everything auto drafted out of the business account for the mortgage, as well as have all rental checks auto deposited into the account. 

It also keeps the rental property funds separate from other income streams making it easier come tax time to look at income and expenses.

I only have one house with them in the Cleveland area and have been with them since 2016 and I have had no problems. 

They are very professional and ready to go when needed. 

I have a tenant who just gave notice and they are on it, ready to get in rehab if necessary and to get a new tenant ASAP to avoid as much money loss as possible with a turnover. 

No, not a local lender, Better.

Closing on a SFH Aug. 15 got 4.375% for a 30 year fix 25% down (Credit score 805)

Alabama, Georgia, and Ohio

Bought a split level with metal roof in Pinson, AL. outside Birmingham, near Turkey Creek, great cash flow, and I love the low taxes. 

Bought it for 70k in 2016 and now worth 90k plus. 

Got a tenant the first day I put it on the market and they have been there ever since and take very good care of the property. They are signing on for another year next month.

I always show my 457 Retirement Plan ($83K plus) for my reserves.

Plus you get to write off mortgage interest on your taxes.

Yes, CASH FLOW, is a variable and rarely fixed. 

Or at least for me, there seems to be an unexpected expense every month lol. 

If you figured in a percentage for 

vacancy factor

repairs & maint. reserve

capital expenditures reserve

my cash flow would be lower, but like I said I don't touch any of it as I don't need to right now in my career.

You don't have to move either to get into other markets for better cash flow, as technology can take care of that with various services.