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All Forum Posts by: Frankie Lotrec

Frankie Lotrec has started 11 posts and replied 38 times.

@ Gary F.  Security cameras will be in place once renters are in.  It's a safety amenity for both of us

@Patrick Daniel

No,  I'm looking to have cameras for tenant's security and for remote monitoring.

Oh we may use one of the units for airbnb so ...

Hi all.  Im a new investor in the midst of renovating an old home and converting it into 4 one bedroom apartments. I'm wondering what system you'd  recommend for remote monitoring and security for the units? iris? Nest? 

tx

Post: Best option for washer/dryer

Frankie LotrecPosted
  • Investor
  • VA
  • Posts 38
  • Votes 4

Hi,

I need some input as far as reccomendations for a washer dryer for my rentals.  Also, I'm a new landlord and am wondering whether to use coin operated (charge the tenant for laundry) washer/dryer or just include in rent.  what is typically done? How do you handle damages?

Tx

Francesca

Post: when is a home loan considered commercial?

Frankie LotrecPosted
  • Investor
  • VA
  • Posts 38
  • Votes 4

 @Andrew  Johnson

Tx so much for your reply.  It's an R4 meaning its zoned for multi.   No permits yet, waiting for sealed plans then framing begins.    What if the 5th unit (basement) is owner occupied???

Post: when is a home loan considered commercial?

Frankie LotrecPosted
  • Investor
  • VA
  • Posts 38
  • Votes 4

Hi, I'm new in the real estate world. I recently purchased a home in VA. It needs major rehab work and I'm considering applying for a construction loan. I'm converting it to 4 units possibly 5. The question I have is, when is a home considered commercial for loan purposes at 5 units?

Hope it's not too confusing ...

thanks 

francesca

Post: multifamily residential or commercial?

Frankie LotrecPosted
  • Investor
  • VA
  • Posts 38
  • Votes 4

Hi, I recently purchased a home in VA. It needs major rehab work and I'm considering applying for a construction loan. I'm converting it to 4 units possibly 5. The question I have is, when is a home considered commercial for loan purposes at 5 units?

Hope it's not too confusing ...

francesca

Post: Looking for a local Tax strategist

Frankie LotrecPosted
  • Investor
  • VA
  • Posts 38
  • Votes 4

@Bill Hampton. Hi Tx for your reply.  I need SO locally to look at our stuff to see if we 've missed 

( I'm hoping) some deductions. My husband is an engineer, self- employed. Unfortunately, according to Uncle Sam,  he made too much and we ended up in debt  to pay our taxes. Preposterous!

I'm being proactive for next April, can't afford to pay as much as we have....

Post: Looking for a local Tax strategist

Frankie LotrecPosted
  • Investor
  • VA
  • Posts 38
  • Votes 4

Hi! After 2 years of paying exorbitant ( debilitating)  federal taxes, I ' ve decided to look for a tax strategist.  We live in PA outside of Philadelphia, In the King of Prussia area.  Does anyone have a recommendation for a local tax strategist who can help? Thanks in advance.

Francesca

Live intentionally

Ps. 90:12