All Forum Posts by: Cyndi Hong

Oh great tidbit Khalid. I spoke to the lender. They said we can have the loan in 1 person's name and we will probably not put it into an LLC but a Trust. This statement alone may trigger more educating to me from some senior investors.

 Yes, per all your suggestions; I spoke to the Lender & realtor and have decided to put only the Title in both names. :) 

haha...the Subjet Line title must have caught your attention though and I was happy I clarified in my question. 

Thank you for your suggestion.

Thanks Sarah for that insight.

Thanks all!!  

I spoke to a friend who's a real estate attorney (I didn't think would respond to me as they're overseas). But they said to discuss this with the Title Co and realtor to have it inserted in. I asked my lender and she thinks that this may not be a problem to leave the name out.  

So we left the name out of the loan but will include in the title.

 Thanks Michael. Yes, one is carrying more debt than the other. One has two properties under there name and the other has none. haha.  But also incase there is any legal issues of separation (not foreseeing that but just thinking of the future).

When buying an investment property would you advise to sign as co- signer with your spouse? Or have it on one spouse name then move it to an LLC?

We want the to be able to have more buying power later this year as well so we don’t want to jeopardize the debt to income ratio of both of the  partner?

@Ashley Garner. Where is this location?

Aloha Maureen,

Have you lined up your team yet or you're still in the interviewing process?  And if you have contractors already lined up, did have them tell you what the estimated time frame for job completion?  I have a few people I can also refer you to.  

I have managed my own long term rentals remotely and have had a great success in it. I think I just have a knack for this. I interviewed a few property rentals out there and their work style isn't fast enough for me so I took things in my own hands and just managed it myself with 4 different units.  I have a colleague from the mainland that just purchased a Management Co out there so I can refer you to him. Or I have been thinking about setting up my own management Co. out there to expand to other people's renters other than my own.  

@Kyle Wells  Thanks Kyle!  Just read through your other posts too so congratulations on your new baby.  How exciting. 

I actually found a 4-plex, not in the zip code you provided but very close by in the proximity of KU Med Cntre and Westport area as you've indicated.  There are current renters in this property  but it's only generating half of what you're making on your 4-plex.  I'll reach out to Andy and thanks for the full disclosure. 

@Kyle Wells  thanks for narrowing down the location Kyle. This make it much easier for me to locate.  :)  Currently there isn't duplexes or 4-plexes that are on the market now.  Do you have a good Realtor in the area the you can suggest?  Would love to know more and tap into that area.

Thanks in advance!