All Forum Posts by: Kathy Calderini

@Remington Lyman those barn doors are sweet!

Have you ever thought of putting in a security system with cameras? Tracks who comes and goes with individual codes. Adding a camera allows for visual of activity as well. Well worth the investment, can use as a value add for either tenants or buyers.

Just a suggestion.

Cheers,

Kathy

@Chris Coleman thanks for thinking of me!

@Mark Franks Congrats on your first project!

Just want to make sure you check with zoning to see if the property is zoned as a 2 or 3 unit property. May impact your plans for the future. You can always get the zoning changed if it is currently a 2 unit and you want to make it a 3 unit. Especially if you are living in the property, you got time!

Hope this helps and make it a great day!

@Tom Carmody I had a pipe burst in my house and the plumber suggested I put vents every 3 feet in the wall so we could get heat in the wall to prevent the pipes from freezing. It was that or rip out the wall to insulate the pipes which would have been a huge investment. Never froze again.

Yes, give the tenants a break on rent. Great relationship builder hopefully loyalty as well!

Make it a great day and hope it helps!

@Dustin M Prasuhn the first question is how did you take title to the property? If it is an entity, you can stick with the HML or private money with little to no seasoning. If you went the conventional route and the title is in your name, you will need at least 6 months seasoning to refinance depending on the lender. Each Lender in this arena will have their own guideline, need to check around.

Hope this helps! Make it a great day!

@Najah Ellington I might suggest attending a local REIA meeting. They have great topics of conversation, education, and networking. Meeting people f2f as well as on BP is awesome.

Hope this helps! Make it a great day!

@Payton Reid financing the rentals will allow you to purchase multiple properties and increase your return on investment. Just be sure to keep at least 6-12 months capital for anything that may come up.

Hope this helps! Make it a great day!

@Alfred Litton you must be talking to conventional lenders. There are numerous lenders that will lend to an LLC's for long term loans, most are hard money lenders or private money lenders. Yes, rates are a bit higher but keeps personal and business separate.

Hope this helps and make it a great day!

@John Krause REIA's are also great places to grow your network.

@Andi Goud if the house goes to foreclose the seller you are working with will have no input/decision into the contract. I would suggest you try and find out what company is foreclosing and discuss your situation with them. You could save them thousands of dollars if they would postpone/delay the foreclosure for 30 days. Some banks are happy to directly with a buyer of it is a win win for both.

If the foreclosure goes through, the loan will not close on 11/1 in most cases.

Hope this helps and make it a great day.