All Forum Posts by: John P.

@Sean Autry just been with Rice this year but so far very happy with professionalism, promptness, experience, etc....  

I can provide some insight at least on the management fees as I have researched that a fair amount.  I have found between 6 and 10% around the country.  Usually the 6% requires owning a few homes.  The bigger question to me is what other fees they charge.  One company was 10% + full first months rental when they re-rent. Yikes. That's a lot!   Some were 8% flat.  I am talking in different areas of the country.  We ended up using Rice Real Estate in Las Vegas and have been very happy thus far. However, I think they focus on A and B neighborhoods so might not be what you are looking for.

What amount and what type of security for the lender?   I work in Sac.

If you have a will and not a trust then there will be a probate.

If your brother in law does not have an attorney go to websites like Superlawyers, Lawyers.com, Avvo.com and similar rating services to find an experienced probate attorney in Sacramento.

Everybody's been to 2 Me. That place is LEGENDARY in SacTown!  Very cool.

Am very familiar with real estate there. Extremely stable. It's not exciting but it's stable.  This year it has been VERY hot there.  The real estate that is. I would look at the nice small towns around Logan like Providence.  You can get very long term tenants out there.

Typically the trustee or executor would have all assets appraised and provide that appraisal to you.  2me?

I appreciate all the thoughts. Thank you all.  I don't want to do anything stupid and I guess I won't know if it's stupid until some years in the future. 

I have Money For the Rest of Us episode 44 cued up and ready to play (Thank you @Tommy F.) 

@Thomas S. the above made me laugh. Thank you.  :)    I hear ya. That's my internal debate I guess.

Anybody getting decent cash flow from slightly nicer houses?  $150k +/- range in decent neighborhoods!?

With interest rates so low I am debating about re-fi'ing our home mortgage and buying some investment properties with the money.  For simplicity let's just say the home mortgage is paid off. Let's say house is worth $750k.  I believe I can get a 15 year re-fi mortgage at, or just under, 3%.  My income has me in phaseout for deductions so I do not get full value for tax deduction but still some benefit.  Am I being too conservative to just sit on a paid off house?  I could easily get $600k out of the home to invest and, most likely, have no problem paying the mortgage with the rents. I would love some insight/encouragement from you experts. What would you do?

It is a bit of an odd question for someone to ask and so broad really. As said it depends if paid off, what value is, what rent is, etc....  For me I usually downplay things.  "A couple" or "a few very small units" or something like that would by my answer. Plus, I mention mortgages to downplay it further.   There is simply no reason to share too much. Plus, I have properties in a variety of trust names so they are not even a matter of easy public record to find by searching my name.