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All Forum Posts by: Jeremy Paschedag

Jeremy Paschedag has started 19 posts and replied 160 times.

Post: First IRA LLC Property

Jeremy PaschedagPosted
  • Rental Property Investor
  • Saint Louis, MO
  • Posts 162
  • Votes 53

My IRA LLC was finally able to close on a duplex. All of the lenders for non-recourse loans either wouldn't lend on the property or their terms were not favorable for me. So I bought the property in cash. WOW what a great closing experience that was. I saved money in closing costs and it only took about 15 mins. Haha, the walk thru took longer than the closing.

My next step will be to see if my LLC can get a loan for another property using the first as collateral, or try to get a HELOC.

Post: How Would You Handle This Garage

Jeremy PaschedagPosted
  • Rental Property Investor
  • Saint Louis, MO
  • Posts 162
  • Votes 53

As others have said, rent it out.  Because it's below your tenants you'll want to be sure your tenants are protected from the storage tenant.  You might want to ensure that the storage tenant doesn't make a lot of noise after night time.

Post: North County St. Louis Missouri Property Managment

Jeremy PaschedagPosted
  • Rental Property Investor
  • Saint Louis, MO
  • Posts 162
  • Votes 53

Congrats on your rental property!  While it's good to be prepared, you should try to manage it yourself and save some money for your next property.

Post: Can you help analyze a rental deal

Jeremy PaschedagPosted
  • Rental Property Investor
  • Saint Louis, MO
  • Posts 162
  • Votes 53

Is this a single family property?

Is there an HOA?

Post: New and looking for advice

Jeremy PaschedagPosted
  • Rental Property Investor
  • Saint Louis, MO
  • Posts 162
  • Votes 53

You can search for St Louis real estate investment club to get more info on that.

For tenant screenings and such (I believe they have leases too), you can use mysmartmove.com.  They are associated with Trans Union (one of three credit score companies).  I have not used them.  They charge $35, the service I use charges $50.  The next tenant I need screened is when I'll try mysmartmove.com.

Post: Help Please...Our offer was accepted and we need funding advice

Jeremy PaschedagPosted
  • Rental Property Investor
  • Saint Louis, MO
  • Posts 162
  • Votes 53

When you made the cash offer, how did you intend to pay for it?  I'm guessing you had a plan at that time? If so, what happened to the money?

Post: Financing Strategies I Should Consider

Jeremy PaschedagPosted
  • Rental Property Investor
  • Saint Louis, MO
  • Posts 162
  • Votes 53

If you're wanting to buy a $60k flip, I believe you'll need $15k for the down payment, plus closing costs.  Then you'll need money for the rehab.  With the line of credit you have, you should be fine.  For my comfort level, it's too close.  I would want more cash for rehab and carrying costs.   Just be careful that you do not over extend yourself.

Post: Beat my 10 Year goal in 1.5!!! :D

Jeremy PaschedagPosted
  • Rental Property Investor
  • Saint Louis, MO
  • Posts 162
  • Votes 53

Congrats!  Thank you for sharing! 

Post: Realistic goals for real estate investing after college

Jeremy PaschedagPosted
  • Rental Property Investor
  • Saint Louis, MO
  • Posts 162
  • Votes 53

Good that you're thinking about your goals now.  I suggest writing them down.  Have immediate, short term, mid-range, and long term goals. Review them periodically and adjust if necessary.  Good luck! 

Post: I dont want to hear from my tenants for a few years. How do i...

Jeremy PaschedagPosted
  • Rental Property Investor
  • Saint Louis, MO
  • Posts 162
  • Votes 53

This seems like a bad thought for someone with only 4 doors.   That said, if you don't want too be 'bothered' by your tenants, get a property management company. 

As far as replacing things years before their life expectancy, that's foolish and throwing money away. 

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