All Forum Posts by: Josh Ledbetter

Thanks @Mike M!

I think a lot of your questions would be non-issues. We would own and finance new property and it would be on a separate lot I own. They would even pay rent in the new house, which would be their exact mortgage payment they currently have. Only child so no fights down the road

My biggest conundrum is the “subject to” on their property. I’d like to put that in my llc and just not sure what happens if the bank calls their existing note in. How do you fix? The tax issue should be okay since their estate is less than 5.5 million.

Thanks again! Any better ideas?

Wondering if anyone has ever bought their parents house "subject to"?

So my parents are wanting to build on my property to be close to us and we are going to build it for them and just rent it to them. In exchange, they will sell/gift us their current residence. This way it keeps their mortgage costs the exact same and I'm still able to cashflow off their residence. Any ideas/thoughts??

interested

I'm wondering if the returns might be greater if I offer my house furnished rather than unfurnished. Any experience out there? I can't airbnb because I am currently outside of the city's overlay.

Corporate rental, people building a house, travel nurses. 

We had to move-in with my in-laws for a short season while we were in between houses. 3 months too long to live with family, even though I love them to death. feels like an underserved market but might be for a reason. 

I'm closing on a house that might make a good short term rental. Its a single family residence with 2 beds/2 baths upstairs (I could easily convert to 3/2 Up) and 1 bed/1 bath downstairs with kitchen. Separate driveway and entrances.

I'm wondering if I should turn them into 3-6 month short term "furnished" rentals. Anyone had any experience in these type of rentals?

Can you send me pics?

12 years left, maybe a little less. I definitely don't want to pass up the rate of 3%, but want to try and pull out the equity. 

I have a single family residence that is being rented for $1850 a month. I currently owe $120K on a 15 year, 3% fixed rate loan with a payment of $1413 (PTI) a month. The property also has a HELOC that has about $30K at 5.5% interest with a payment around $100 or so. So total debt service is at $150K.

I obviously don't make any money on the property but am paying down the principal like crazy. The house appraises for $275K and the bank will give me a 30 year loan at 5.5% for $220K, giving me $70K cash to buy other properties. Payment will go to $1495 (PTI).

I don't want to sell it for personal reasons. SO do I refi and pull out all the cash OR leave alone because of the crazy low rate?