All Forum Posts by: Johnny Situ

@Maurice Colbert to my knowledge refinance only works when you have enough equities in the property since most banks won't be able to do full amount financing.

@Justin Sheley what is your strategy after the 12 months zero interest period, are you gonna renew your membership and ask F&G to reconstruct your credits? As buy and hold investors, we can't pay it back simply by cash flow within that short period of time without selling the property. Thoughts?

Hi BP folks,

I am seeking a CPA in Charlotte NC area who is specialized in real estate and forming legal entities, if any of you have someone in mind, please let me know. Thank you very much!

Haha thank you @Brian Orr, good to have an extra hug!

Hi BP folks,

Can anyone recommend a good property management company in Gastonia NC? I am looking for a good PM to manage an apartment complex. Thanks. 

Thanks @Ashish Acharya for the analysis, so say if I still have 51% ownership of the house, can I utilize 1031 exchange to trade up for a larger property in this case?

That is a nice angle to see this @Chris Martin , thank you! In my opinion, even in ghetto area, there will be good tenants, people need to have a nice and safe place to live, we as investor need to explore their needs and find ways to accommodate it.

Hi BP folks, I am planning to transfer part of the ownership of a rental property in SC under my parent's name, so that they could live there and be able to claim it as their primary residence. My question is, if the property becomes a primary residence for my parent, does it still count as a rental property on my end since I still have a larger portion of ownership in it? Am I still able to deduct any expenses in the property?

Thanks @Brian Orr

Thank you @Brian Orr , my main focus for now is to generate above average passive cash flow in the long term.