All Forum Posts by: Reggie Maggard

Ok, check this out. Get a realtor and start looking through properties on a regular basis. Cast a wide net and think along the lines of how you can make this thing produce fruit. Run the numbers using the calculators on here if new. Then research other ways. Get all over social media and spread the word that your hungry and looking to purchase a property if someone is about ready to retire and move to Florida. Have all your ducks in a row. Consider the first property 'education', that doesn't mean get screwed over, but take the best deal is sometimes the best move.

Is this a home your going to live in or rent out?

I live in the KC area and I am very un-impressed with property management services around here. They sound affordable and then gouge you with 'maintenance and repairs'. I personally handle it myself but it requires more phone calls and texting. Once you have your vendors in place its easy to self manage.

Im not well versed on this but I would start by talking to the local assessor in regards to combining the units into 1. Very interesting, hopefully someone has come accross this. I know people separate and sell individually, and that requires local/city approval.

I would try to hit a meeting while your there as well. Good luck.

I have a ups address and give it to them. I don't volunteer that its a ups box. For the out of state issue...I would suggest saying that's where your 'company headquarters' are (not a lie) and avoid the specific questions when possible, in regards to your business.  I can't think of a way around that unless you do a PO Box and allow your friend to have access.

What will the bank have to secure the LOC?

I haven't heard of that being done. If you did, the terms and rate would not be favorable in order for the lender to curb risk. Maybe if supply and demand ratios changed and they were desperate. Where I am, its 25% for residential (4 unit or less) and 20% for commercial (5 unit and up). Plus the commercial will have a 2-3% higher rate with that amount.

You refinance a mortgage is how that works. Maybe ask your question a different way if that doesn't answer. Good luck.

I wouldn't use a bidet in America. Im personally a fan but I dont think most Americans are. Grinder pumps are a constant problem. Unless you plan on redoing the plumbing totally and going to a septic system or hooking into a city sewer, you need to 'make lemonade' with what you have. Get a good SYSTEM, maintain the grinder pumps as much as possible, discourage TP use, shop around for best deal on pluming service, etc...  Try to find a way to reflect it in the revenue side and certainly, going forward, think about that in your property valuation. Good luck.