All Forum Posts by: Charles Carillo

@Account Closed

We have some foreign partners. DM me and we can send you some lenders that have worked with our foreign US investing partners before.

@Shervin Fakhravar

We work with a number of foreign investors. Where are you located? What types of properties are you looking to purchase? DM me and we can give you the contacts to a couple lenders our partners use.

What states are landlord friendly and what states should I avoid? This is a question asked over and over by new investors. Charles breaks down landlord laws and states to invest into and states to avoid. Why states lean one way verse another and what it could mean for your real estate investment if you choose the wrong state.

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@John McKee

Is there a personal relationship with these banks? I would call around to all local banks and credit unions in the area; say within a 45-minute drive of the subject property to see what others are able to offer. I have found that most local banks will be similar but there are usually a couple with unique programs.

@Jami Kloet

We know of one lender a couple of my partners have used that live in Canada. DM ME and I can send you their information.

@Tina Aki

We work with a number of partners that are based in Canada and invest in the U.S. If you need any contacts for CPAs, attorneys, lenders etc. Please DM ME.

@Yenlan Patton

They obviously are trying to avoid you and the issue. Maybe speak to your attorney and have them send a short letter certified to the tenant. It won't cost that much and the tenant will/should now know that you mean business. 

There are other ways you can handle this but it depends on the outcome you are desiring. Do you want no pets period; or do you want them to pay a non-refundable deposit/fee for the pet? My suggestion would still be to speak to your attorney and possibly utilize a short letter from them sent certified.

@Account Closed

People purchase properties with tenants all the time. Are you planning on selling this to an investor or a homeowner? That is the real question. Investors will most likely want a tenant already in the property (if they are good tenants and the rent is close to market).

This is a great thread since the wave of new investors over the past few years are told by gurus that $200 a unit is made on every unit, every month and then people pay tens of thousands of dollars for a course. 

People don't understand that real estate; especially investment real estate; requires consistent management and attention. Mechanicals break, water leaks, lawns need to be mowed, snow needs to be plowed, walls need to be painted, light bulbs need to be changed etc. and we have not even talked about dealing with tenants! 

When you purchase a property and plan to manage it yourself; you have just purchased a business. If you plan on hiring a property manager; you have to now manage them. 

Gurus also fail to mention reserves; I hope you are not spending that $200 in cashflow every month; you will need it when a furnace needs to be replaced or when a pipe freezes.

Real estate is a great business that is very capital intensive and many new investors want to "get into" properties with little to no money down; but what happens when you need a new roof in the first year? Do you think you are paying for that from cashflow? I don't think so!

I have always felt; the more units you own, the more income streams, the less volatile your income will be, however; you need to have great property management and reserves. Maybe your goal should be to purchase 100 units at $200 a door cashflow and save $100 into reserves every month? 

If you want to make $80k-$120k a year in truly passive income from real estate; invest $1 million - $1.2 million with reputable syndicator(s). 

@Matthew Varga

DM me; we know of one lender that works primarily with Canadian borrowers in the U.S.