All Forum Posts by: Tony Reynolds

@Jody Sperling 

Thanks for the insight! I thought credit checks had more impact than that.

I've done HELOC's before on my primary residence, but not on investments, and I've always gone with my lender on the 1st mortgage. Where do you look to find the best HELOC?

I have Excellent credit, but lenders all want to run credit checks before quoting interest: how do you compare cash out refinance loans without affecting my credit score?

Also...I have 2 properties that I want to cash out refi: can I do them both at the same time?

I have 2 cash flowing rental properties in California and one money pit in Detroit. I want to move them all out of my own name, but I don't know which kind of entity would be best. I want to refi the California properties with cash out to re-invest, but I don't know if I have to do that in my own name first or if I can create an entity to purchase it from me: can an entity (brand new) take out a loan?

I also want to protect my personal finances from the Detroit property if I have to let go of it.

I appreciate all insight and feedback!

Thanks!!

Help!! I have a small rental in the Warrendale neighborhood of Detroit that I bought several years ago. I still owe 52K and the Zestimate is 17K. The traps in the basement storm drains have rotted out and there's a back-flow of sewer smell. Water is starting to seep in through the basement walls and mold is starting to appear. Cost of repairs is several thousand dollars but my biggest concern is tenant safety.

Anybody have any insight or experience?

Thanks!!

Tony

One of my duplex tenants wants to move after just 5 months claiming the other tenant is selling drugs and posing a threat of physical violence. The accused tenant has been there several years and has always been very dependable with no previous reason to suspect a problem.

What do I do? How do I investigate to discern if the claim has a factual basis?

Is this property still available?

Can anyone out there refer an asset protection professional with expertise in California?

I need some insight about liquefying the equity in a couple of properties (for re-investing) and then moving them into some an entity.

I'm looking for ANY advice about moving wisely from "Hobby" investor to professional.

I sold a long distance rental in Tennessee and brought the equity home to a central California duplex: Dave foster handled the 1031 exchange for me and mentored me along the way. He extended himself to be there whenever I had questions and he paced me all the way through a very smooth transaction. He took all the "scary" out of it. I would highly recommend him and will use his services again if I ever do another one.

I am closing escrow next week on the sale of a rental property that I have owned for several years: can I avoid capital gains by reinvesting locally (Ca.) or did I blow it by not going 1031?