All Forum Posts by: Joseph S.

Hello,

I have been doing some research on note investing and wanted to learn anyone's strategies on selecting which performing notes they are going to purchase.

What are you criteria for selecting performing notes? Do you use a spreadsheet and what do you include? Did you register as a debt collecter and hire a loan servicer, or is that what a loan servicer is?

Thank you very much for the help.

Joe

What are tour thoughts on getting one or multiple unsecured lines of credit just to have cash readily available if needed? What are your pros and cons? Do you believe interest rates are low enough still to attain those?

Hello,

I am in the process of creating a bank account for my LLC and have read in multiple places the different strategies used to develop a large business line of credit that can be put an investor into the Cash Buyer category. Has anyone done this? What strategies have you used to increase the business line of credit on your real estate LLC's? Is there a step-by-step process to do this?

Thank you,

Joe

Hello,

My wife and I successfully purchased our first duplex! We have now created an LLC and are going to open a bank account. I have read that a creative way to purchase properties is through a business line of credit. I have also read that there are different strategies to improve that credit line.

Has anyone followed a step-by-step guide on how to improve the LOC? What are some of the processes that you worked through to enable you to have cash on hand when necessary using your business LOC?

Thank you in advance for the help and the suggestions.

Joe

Hello ,

I have been listening to many podcasts on the Eviction Moratorium and manipulation in the real estate market due to current events. My questions are: has anyone experienced tenants not paying their rents, not been able to evict tenants, or had to restructure due to the burden created by these events? What did your restructure look like? What markets are you in? What locations are you experiencing this in the worst way? Has anyone experienced this in Alabama or Georgia specifically?

Thank you.

Last year my wife and I refinanced our house and took the interest from 4.75% to 3.5%. We also went from a 30 year mortgage to a 20 year mortgage. With rates where they are at now and our property value going up we were considering refinancing again at 2.5% for 30 years and do a cash out option.

The following are what I see to be pros and cons of this option:

Pros:

1. We will more purchasing power with cash on hand.

2. We will reduce my interest rate by one point.

3. Our monthly payment will be less.

Cons:

1. We will lose the gains I made by going from a 30 year to 20 year mortgage originally.

2. We will have paid to refinance twice in one year.

My questions are: Is this a viable option? Has anyone done this before? Does this make sense or is this a poor analyzing?

Thank you.

We recently elected to put a 15yr mortgage on a duplex we are buying for our first rental property, and have decided to change it to a 30yr. When electing to change, is it common to keep the rates that you had when you locked in at the 15yr rate? Or does the lender normally apply the rate on the date that you made the change?

Also, I will not be able to attend the closing due to an unforseen conflict. Is it possible to create a special power of attorney for my wife to sign for me at closing on a Fannie Mae/ Freddie Mac investment loan?

We would like to convert our low income housing to Section 8 housing. Has anyone ever approached a current tenant with the idea and explained how it works and there would be mutual benefit? Is this something a property manager would be able to handle? Does the property manager handle any changes to a lease if it is currently month to month? Thank you.

I have read about forming anonymous LLC's and am interested in this topic. I am most interested because of the extra protection it gives my family and I. Has anyone formed an anonymous LLC as it's asset holding company? If so what state did you use and who did you use to file the paperwork? If I file an LLC in another state I assume I have to file paperwork in my state that allows me to do business in that state? Thank you for any help.

I have read about forming anonymous LLC's and am interested in this topic. I am most interested because of the extra protection it gives my family and I. Has anyone formed an anonymous LLC as it's asset holding company? If so what state did you use and who did you use to file the paperwork? If I file an LLC in another state I assume I have to file paperwork in my state that allows me to do business in that state? Thank you for any help.