All Forum Posts by: Matthew Otero

Why would the title company request an appraisal from my bank at the request of the IRS? The seller has been in trouble for some time and I already purchased one property off of him, but on our second deal I'm not sure what to make of it. The title company states since the IRS has a stake in the property they want to make sure the seller is selling at fair market value. We are keeping the realtors out on this deal, I offered $104k on the investment property and it appraised for $115k. Is the spread too much and the IRS wont allow the sale to close? Is there a specific percentage range I need to be in? We have been under contract since October waiting on the IRS to allow the closing.

Hello all! I’m dealing mostly in Indiana right now and need to generate more leads. I was hoping to run into some wholesalers and get on their emailing lists. I’m focused in Johnson County at the moment and any help or partnerships would be appreciated.

@Jay Helms Hi Jay, so I’m interested in this mastermind group thing you mentioned. I’m new in experience but have been educating and establishing my business for the last 3 years my partner and I purchased and own a rental property and are shopping for the next. I’ve been thinking about joint a group of more seasoned professionals to learn from and share with.

So I’m purchasing properties in Indiana right now and working with smaller banks and want to get my capital out of the property. I’m just not sure if there is a standard waiting period before I can refinance these investments property mortgages. I think I read somewhere it was 18 months but I’m not sure. Also does it vary in different market, is it state specific or just depends on the bank?

Thanks to everyone who responded and shared, its very much appreciated!

@Dan

Thanks for the info, very helpful

@Jake Stuttgen

Thanks for the tip. I’ve looked at Stessa briefly, may have to revisit

So my partner and I are in the trial period for quickbooks and noticed that there are two versions, the desktop and online version. Is one better than the other for real estate investors? Does anyone know the differences between them?

So the seller we bought our last SFR from offered us another property before he puts it on the market because he wants to keep the agents out of it. Is there any foreseeable reason I should be worried? I'd still get the inspection done to make sure the house won't collapse once I purchase it. Just wanted to know if anyone had experience with this. I wouldn't be purchasing it cash I'd be getting a loan

So my question is do I really have to open a new bank account to collect rent for each new property? The LLC has its general business account that we use for all our administrative and operational expenses but I opened another account for my SFH in order to keep track of my expenses on the property and to collect rent. I'm offering the option of electronic payment likes Zelle so I also created a new email to link to that account. I feel like there's an easier way and while I'm here at what point should I create a new LLC (how many properties) to limit my liability?