All Forum Posts by: Luka Milicevic

Originally posted by @Thomas P.:

Originally posted by @Luka Milicevic:

Personal experience most lenders I've worked with don't allow LLC loans because they consider it a "business loan" and not a mortgage on the subject property.

I fact, my last lender made me sign an agreement saying I'm not at any point going to try and transfer the loan from my name to an LLC.

With that said, the last portfolio lender I spoke with said they can do an LLC or my name. Whatever I wanted. I think it all comes down to the lender.

 @Luka Milicevic

What portfolio lender are you referring to in the Nashville area? We are looking for other lending alternatives with our LLC?

 Cedarstone bank. Contact is Hank Stuart. He deals with investor loans and really knows what he is talking about.

Yes.

Personal experience most lenders I've worked with don't allow LLC loans because they consider it a "business loan" and not a mortgage on the subject property. I fact, my last lender made me sign an agreement saying I'm not at any point going to try and transfer the loan from my name to an LLC. With that said, the last portfolio lender I spoke with said they can do an LLC or my name. Whatever I wanted. I think it all comes down to the lender.

Notes on iPhone and then transfer them onto desktop with more detail. I don't use any real software either. Just excel

I would say check out what the comps have. Definitely don't think the Viking appliances are needed. I never did understand their ridiculous price tag. If I had to pick I would say option 5.

Tough one. It depends really on the type of property. 

You will have a tougher time renting to a family with 2 children vs a college student. 

Also depends really on the extent of their crime. Was it a misdemeanor or a felony...

Thank you for all the feedback. I figured it would be related to cold weather/snow on the ground in some areas, as well as school schedules and holidays. 

I was just curious since I have no experience with late fall/winter rental season and wanted to get everyone's thoughts.

Hi BP,

I recently heard on one of the podcasts that it's very difficult to rent out a house between the months of November through February. I've never been in a position to rent out a property during these months, and quite honestly, I never thought about this until I heard it on the podcast. 

I'm curious, how is it trying to rent during the winter months? Also, is there a best time to list a property for rent?

If you're referring to Nasvhille, TN then 100k for a single family in an A or B area is probably not going to happen.

I remember when I purchased my first home (primary residence) my real estate agent told me not to freak out when I get the inspection report.

The inspector did a good job of going through everything and making notes on even the smallest details. I honestly think they have to be very conservative when they give their recommendations-possibly for liability reasons. When I read through the report, it seemed I needed to tear down the house and rebuild it because there were so many recommendations from the inspector. Mind you, it looked perfectly fine to me. 

He recommended I replace the AC unit, furnace, all the windows, the water heater, and a couple of other things that weren't up to code. I ended up not making any changes to the house other than cosmetic upgrades.

Fast forward 2 years and I have not had a single issue with anything he recommended replacing. 

If something just doesn't work-it doesn't work and probably needs to be replaced or repaired. I guess best thing is to use your judgment when reading the report and remember they are very conservative with their inspections.