All Forum Posts by: Charles Carillo

@Lewis Jackson

I would not invest in a property that I do not own, especially one that is owned by a family member. If you are providing a first position, secured loan to a non-family member investor, that is different. 

@Whitney Leighton

Is there a reason you would like him to sign the lease? There is no need for a third party to sign the lease.

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@Marty Howie

We have partners who are foreign investors. DM me and I will send you contacts for; attorneys, lenders, and accountants they have previously used. It is important that you hire professionals who have experience working with foreign investors.

@Gabe N.

This is one of the reasons I do not have tenants handle any property maintenance. It is usually simpler to hire someone to maintain the property and include the cost in the rent. You know that the property is correctly maintained and that you will not receive any citations from the HOA or city. In your current situation, I would ask them if they are interested in you hiring someone to maintain the lawn and see what they say.

In regards to the wall, I would get my handyman over there to fix the wall and have him leave the bill with them. Maybe also put something there to ensure the door cannot slam against it in the future. 

@Jonathan Pantages

Contact your local self-storage facility, and see what it costs to rent a unit to store the tenant's items. That will give you your monthly/daily rate. I would record that information, the facility you spoke to, etc. Maybe print the pricing off of their website and keep it as well in case there is an issue down the road.

"(c) If the landlord stores the personal property on the premises, the cost of storage shall be the fair rental value of the space reasonably required for that storage for the term of the storage."

https://casetext.com/statute/california-codes/california-civ...

@Luke Morris Tamney

I would open a high-interest savings or money market account, specifically for real estate investing, and save it there.

@Vincent Gilliam

I would suggest speaking to local banks, and credit unions. Whenever I am having an issue with financing, I normally reach out to local institutions. They are much more reasonable and are more intertwined in a community than some lender states away. The credit committee is usually made up of local people who are familiar with the market they are in. Lastly, they like building relationships. Once you find a lender that finances properties similar to yours, start building a relationship.

@Gregg Francis

There are lenders who offer equity lines of credit on rental properties, but they might have a higher rate and a lower total loan-to-value when compared to a HELOC on a personal residence.

@Harit Pat

We have partners who are foreign investors. DM me and I will send you contacts for; attorneys, lenders, and accountants they have previously used. It is important that you hire professionals who have experience working with foreign investors.