All Forum Posts by: Jeremy Luster

@Ryan Winzenburg Hi Ryan. We recently closed on 2 properties in the South Bend area and are also out of state investors (Atlanta). Looking to get some help with good contacts for cleaning, etc. And we’ll have to talk later as to how you manage from afar lol? Thx

@Mitch Messer Hi Mitch. Do you still have a good CPA connect in Kennesaw. Thanks in advance

@Jenni Villane Hello. I see you have experience in out of state rentals and was wondering if you would answer a couple questions. My wife and I are about to purchase our 2nd out of state rental in IN and we're wondering if we should hire a local attorney or an attorney in Indiana to review the contract? It will be a quick claim deed. And do you guys have your properties in LLC's? Thanks so much for your time.

Jeremy

Hey @Antonio Cucciniello and thank you for your response.  So you take out 8-12% total across the board for everything?  All minor repairs, cap ex (future big repairs), etc?  So assuming I'm using your advice of 5% on say $1250 per/month rent, you'd put $60-$65 in an emergency acct every month and that's it?  I realize everyone's different and some more conservative than others but just want to make sure I'm saving enough although it's new.

Hello BP,

Wondering if someone can help with how to run repair costs, cap ex, etc on a new construction rental? With it being brand new, having a tough time running the numbers. Thanks in advance.

Hello BP,

Wondering if someone can help with how to run repair costs, cap ex, etc on a new construction rental?  With it being brand new, having a tough time running the numbers.  Thanks in advance for your help.

Hey Alan,

Did you have any luck finding a good attorney in Atlanta? 

Hello @Levi K. and thanks for the great info.  As you stated, we're thinking that the Heloc is prob our best option.  Our terms are similar with the 10 year draw and 20 yr payback. However, our interest rate can't compete with your promotional rate lol but not bad at a little over 3%.  Ok cool, I needed a little confirmation so really appreciate your feedback.

Hello and thanks for your response @Caroline Gerardo Copy that.  I know we'll be penalized upfront some but wondering if we'll make up for it on the back end.  Are you a fan of using a Heloc?    

My wife and I are in the process of starting our rental portfolio. We're scheduled to close on a property soon but wondering what's the best way to leverage our money for the down pymt. We currently have a Heloc available, some cash, and our 401K's. Our plan is to buy another SFH or possibly a multi before the end of the year but wondering what's the best plan of attack. What strategy would you guys use in this scenario to give the most leverage moving forward?

Should we use the Heloc only?  Half cash/heloc?  etc.

Thanks in advance,

Jeremy