All Forum Posts by: Hayley Chan
Hayley Chan has started 3 posts and replied 4 times.
I'm analyzing a property and looking at the deed restrictions. The specific wording on it says,
"These covenants are to run with the land and shall be binding for a period of twenty-five years from the date hereof; and the end of said period, said restrictions and covenants shall automatically be extended for a successive period of ten years..."
Does this mean 25 years + 10 years + 10 years forever?
OR
Does this mean 25 years + 10 years, then stop? Totalling 35 years?
I've seen other covenants that say "automatically extended for successive periods of 10 years [unless voted on]." Onviously this one means it renews every 10 years, but the one I'm researching now is worded differently. Looking for advice on interpretation for the first one! Thanks!
Post: LLC or self-owned AirBNB RV trailer?
- Posts 4
- Votes 2
I'm looking to purchase an RV that my family will use some of the time but MOST of the time we will have it listed on AirBNB. As far as Assets I'm wondering which is better overall for liability, income tax purposes, and write-offs:
a) own the RV personally and rent it out to a separate LLC that I create, which then the LLC uses the RV to host AirBNB stays
b) purchase the RV as an LLC asset and rent it out via AirBNB from there
Post: What is the Process for getting a HELOC on an Investment Property
- Posts 4
- Votes 2
Quote from @Jeffrey Blackman:
Hi @Andrew Katz, I'm curious to see if you moved forward with the HELOC and your next house hack. As you may have found in your search, there are lenders that will lend up to 80% of the appraised value on investment properties and don't require an appraisal.
Let me know if you'd like me to point you in the right direction.
Newbie here - we recently converted our original home into an investment property and moved to another home. We have a ton of equity in our first property but I'm having trouble finding lenders that will do a HELOC or 2nd mortgage so we can use the equity from the first home to buy another rental property. No one seems to do HELOCs unless it's your Primary Residence. Is there another type of loan I should be asking for? Thank you!