All Forum Posts by: Evan Kline

Hi All - Thanks for your valuable feedback, there are lots of good takeaways for us to think about and it's encouraging to hear that it's certainly possible to perform this while abroad (albeit most likely a bit more complicated). One of the key points for us to think further about is the LLC vs. personal designation and what lending options are available for each so that we can make an informed decision.

In addition, I've appreciated the connects with several of you and will send DMs.

@Patrick Roberts - I'll DM you separately on this to share some background and discuss the merits of what we're trying to do.

Thanks again, Evan

Hi All –

Thanks in advance for your feedback. I'm researching DSCR financing options before moving forward within the next ~2-3 months on this. I've read some other posts on the topic, but wanted to start a separate one with a few specific questions.

Background:

• - My partner and I own 2 properties with conventional financing, we have a Tenant in Common agreement between us
• - Financing was only set-up under my partner’s name by mistake
• - We are both US citizens; however I live abroad (receive a foreign salary) and file US taxes
• - Good credit scores
• - Both properties cash flow with PITIA ratios of ~ 1.2

We'd like to re-finance so that we are both on the financing and it seems that a DSCR loan would be a good option given that I live outside of the US.

Questions:

• - Could we close a DSCR loan virtually or would we both need to be physically present for closing? (Virtual closing is preferred)
• - Would we need to have an LLC to move these properties under a DSCR loan, or could my partner and I leave the properties in our names?
• - Would a DSCR loan for Pennsylvania properties trigger title insurance? If the above is yes and we would need to pay for title insurance anyways, then I assume it would make sense to move these under an LLC
• - Are you aware of any watch-outs or other considerations we should factor-into our decision?

Thanks again,
Evan

 @ Eric - Thanks, I'll send you a DM to connect.

 @ Alan - Thanks for your feedback, much appreciated.  Unfortunately, the units are not located in the far northeast, but I'll keep you in mind if the portfolio expands there.

 @ Sheryl and @ Kevin - Thanks both for your thoughtful advice and feedback.  I've sent you both DMs to connect on this topic.  Thanks in advance.

 @ Irfan - Thanks for your feedback, that about sums up my experiences so far and which is why I'm hoping to perform better due diligence this time around so I can find a PMC which better fits my situation.  I've just reached-out to connect and hear about any recommendations that you may have. 

Thanks, Evan

 @ Michael - Many thanks for sharing this detailed list of watch-outs, there is a lot of useful information and considerations here.  I'll save and will refer back to this as I continue on the path for researching potential PMCs.

I currently have a PMC that I've worked with for the past ~4 years, but I admittedly did not perform sufficient due diligence up-front, so I want to do a better job this time around.

Thanks again, Evan

 

Hi - 

Thanks in advance for your feedback, I'm a first time poster.

I'm looking for a recommended property management company serving Philadelphia (north, west, northeast).  I saw a few dated posts on this topic, but wanted to re-open this topic and see if there were more recent / current recommendations.  Please let me know if you have any good management companies that I should consider.  

Thanks,

Evan