All Forum Posts by: John Parshall

I will be in San Diego May 18-22. I have friends in the area, and I have been researching the short term rental market there. I am interested in looking at short term rental for purchase in the North Park, South Park, Balboa Park area, while I am in town. If anyone has good suggestion for realtor to reach out to, please let me know.

I would strongly suggest to pay the minimum on student loans, if it is reasonable interest rate. My friend is in similar situation. He wants to be debt free, before he starts investing. I encourage him to keep that cheap debt on the books and start using his extra money to go towards rental purchase. In my opinion, only benefit to paying student loans off early is a peace of mind you and your wife can get from having them gone.

I currently have an LLC in TN. The 2 properties currently in this LLC are both in TN. TN has no state income tax. I was considering adding a property that is in Georgia into this LLC. Georgia has a state income tax. I have found conflicting info, that doing this could cause me to have to pay state income taxes on the entire LLC income. Are there any other negatives that I might not be considering? Can someone clarify this for me? If this is the case I will not be adding this property into this LLC. Thanks in advance.

From what I have read, you must provide an acceptable reason as to why you are terminating lease of section 8. If the lease is expiring in 2 months, what process do I go about removing the duplex from section 8 program?

I have googled this and not gotten any dependable answers. What do I need to do to cancel this section 8 relationship? What do I need to be careful of? Can I terminate this agreement when lease is set to expire with proper notification? Any input would be appreciated

On Single Family rentals in my market I always look to be at 1% rule. For example 120k property should rent for 1200/month. Obviously there are more things to consider, but that is quick rule of thumb.

I need to make my subject lines more exciting to get responses....

We found several duplexes we were interested in owned by the same individual. We started the process of trying to get his info to reach out about purchasing. We just discovered that he passed away this week. It doesn’t appear that he has any heirs. I am not familiar in this area at all, and I was looking for some info as to what happens next. Any information would be appreciated. I googled and did not find any valuable info. This is in the state of Tennessee.

Thank you for your service.

I reached out to quicken for a loan on a property that was going to be moved into an LLC. I asked to make sure that they would be able to accomidate that, before they ran my credit. I was promised that they could make this happen and rolling it into an LLC would not be an issue. He got back on the phone few minutes later and told me I was approved, but also told me he spoke with his manager and found out they would not let me roll to an LLC. If I would have been told this ahead of time I would have saved time and avoided the ding on my credit score. Not the end of the world, but it was very unprofessional. I didnt get anywhere, when I reached out to a supervisor to get an explanation on why this was ok. I was told there was nothing they could do. I had bad experience, but maybe others have had good experiences.