All Forum Posts by: Coco Cook

@Andy Freeman. My mom always told me never seem RE, only buy. I wish I had listened to her. If your cash flow will be 4100 I assume you own free and clear. As a owner ocuupied property you could get a hefty heloc and use that for down payments then pay the heloc back with the rents from your condo. That's what I would do. I wouldn't use 100% of the amount but keep it as a cash reserve for deals that will cash flow. Then you keep an appreciating property in a very desirable part of California and have the tenants finance your future deals. Win win.

I installed a solar system on my single-family home in Southern California.  The payment for the solar system  came out to  about the same or less than my regular electrical bill.  I moved and rented the house out .  The property management company said the tenant should not pay for my solar system .  However I know that their electrical bill is much smaller than it would have been in a non-solar house but I'm paying $116 a month for a solar system that's benefiting them .  Should I have insisted that the tenants pay for the solar? Or  was the property management correct in saying that the solar system was an improvement and they shouldn't have to pay for an improvement?

Hello,

We have syndication LLCs for several MF in Ohio and we live in Los Angeles. Can anyone recommend a CPA firm that has out of state experience?

Thanks

Coco

Has anyone had experiences with Specialized Loan Servicing? I obtained two mortgages through Wintrust and both loans are being serviced by SLS. They have been very difficult to work with and my last experience is driving me to seek another refi just to get away from them. My property manager is not able to set up automatic payments for the home they are managing for me out of town and has never experienced this with a mortgagor before. They kept sending the statements to me instead of the manager although I informed them several times. The manager looked them up on BBB and found hundreds of complaints against them and a 1 star rating. How do I avoid this in the future? I never thought I would have to screen the loan servicer before but they are charging me late fees when the manager sent the payment to an old address because they sent the address change to me instead of to them while I was out of state for several months. This is affecting my credit. As an investor this is inexcusable. I will never do business with Wintrust again but how do I know who will service my loan in the future? Thanks.

@Santosh Bhor

How has your experience with Jim Moody?

Thanks

did you ever find your spreadsheet? We have an excellent PITI excel spreadsheet if you haven't found one yet.

Regards

C

Thomas S, I believe you took that out of context

Anthony, thanks for the review of Providence. I have to agree with you. I have not been able to follow BP because of work and although I quit my job I am involved on a film project which is taking a lot of my time. I am winding that down and will be able to follow through on posts and opinions. I refinanced a rental home in Monterey,CA before I quit so I could keep those pay stubs coming to the underwriter then quit the same hour the funds were deposited. I am now aggressively researching markets to invest that money. I get the feeling I should sit on cash for the next big downturn but I don't like paying interest on money that's not working. I have narrowed down the likely markets to San Antonio, Jacksonville and Columbus,OH. I feel there is a lot of investment in SA and Jacksonville and that Columbus is being overlooked so I am going there in June to check out the neighborhoods I've narrowed down. I'm so glad to have time for BP now.

David, were you able to meet with Thomas and confirm his numbers? I am an investor looking in the San Antonio area myself.

I have been investigating Ken Wade's Housing alerts and I gleaned from some of the information there that Rhode Island maybe a good state to invest in  based on good momentum  and numbers. I don't know if his system is worth paying for but does anyone have any opinions on the housing market in Providence or other parts of Rhode Island?