All Forum Posts by: Mark Douglas

@Jeff Prather

Gotcha, thanks!

@Jeff Prather

Awesome idea! When would this start?

@Christopher Davis

Hey Christopher,

I'd be happy to grab coffee or lunch and help you talk through this!

I know it's frustrating starting out, especially here. They're trying to make Nashville like NYC or LA 😅😫😫

Best,

Mark Douglas

I have my properties under an LLC and I'm spending a ton in state sales tax every quarter. I'd love to get a handle on this.

Anyone have a CPA that can help me restructure the business so I can start to save more?

@David Dachtera  @Eric Jones @Chris May 

Hey guys, I've been reading this thread, very interesting to see the different opinions. I'm getting ready to refinance one of my rentals into a 1st position HELOC. Personally, I don't think it's a good idea to use debt (HELOC) to pay debt (mortgage). I saw the points everyone was making though. I think 'to each his own' definitely applies here :)

When you refi into a HELOC, the mortgage goes away and you're left with the 1st position HELOC. There isn't really a risk of the lender freezing the line because they're in 1st lien position. I think this is more of an issue if the mortgage still exists and the HELOC is in 2nd position.

Anyways, I appreciate the different insight and thought given in this post.

Cheers!

-Mark

@Rocky V. So the maintenance team doesn't get inside unless the person is home?  That might be the easiest solution.

@Geoff Andrist  Right.  I'm leaning towards giving him a spare.  I've been working with him for almost two years with no issues so far.  This is a rental with a tenant in it, so I shouldn't need a lockbox, just don't want to have to meet him in town and pass off the key every time something needs attention lol

Kind of a silly question, I know.  I assume the answer is 'yes'.

I was just wondering if they keep the keys if only for 'every so often' repairs or very infrequent calls about the property (a duplex).

Thoughts?

@Lisa Thoele I'll have to do some digging and see if there are any around.  That sounds like a good legitimate resource to hear from!

Obviously, there is some sarcasm there.  

Generally speaking though, there seems to be the consensus that in the next 2-5ish years, there will be some sort of market correction.

In that same breath, it seems like there is ALWAYS this underlying pressure (not really the word I'm looking for...) to KEEP BUYING DEALS, almost regardless of what the current state of the market is.  Of all of the podcasts I listen to (mostly about multi-family investing) and people I talk to, I've only heard one person say that they aren't buying right now, intentionally.

Now clearly, a 'deal' is something that cash flows or will make profit from day one.

I'm not saying skip over a true DEAL.

What I'm asking though, is if there are experienced investors who've been through more than one full market cycle, that have periods of not buying ANYTHING, even if there 'are deals out there'?