All Forum Posts by: Michael Cortez

Hi all, is there anyone doing midterm or LTR's in Augusta, GA? I'm looking to acquire my 2nd investment. Been hearing Augusta pop up on more than one podcast. I'm out of state, located in Nj. ZHVI shows a 3.3% home value growth. I'm aware that this alone is not the only reason to invest there. For anyone doing rentals there, please share your experiences. If you could also share areas to look at and areas to stay away from.

Thank you 

When filling out documents like purchase agreement or promissory note, do you sign in your personal name or LLC? If it's an off market deal and you plan on closing in an LLC.

Hi everyone, so I just received some balance transfer checks for a business credit card I have through a Florida LLC (0% interest until next summer). If I use these check and deposit in my account to let it "season" to go buy a rental property outside of Florida, how does that effect my taxes if at all? Any consequences for using these funds outside of the state that the credit card is associated with?

Thank you! 

How do you SUBTO a property? If I want to take over a seller's mortgage payment who is in pre-foreclosure and owes back payments, how do you catch up the payments? I would imagine you can't call the lender to say "hi i'm taking over the mortgage payments on Susy's property. Here is they money she owes". Because then they'll want to call the loan due. Does the payment go to title company with instructions to say "this amount is to pay the seller's back payments?

Hey everyone. For those doing subto deals in FL, what are some thing you are offering the seller (legal document wise) to help put them at ease?

Looking to purchase a property in Gainesville that can be used mainly as a midterm rental or possibly student housing. Can someone give me some good areas to look at and maybe some bad ones to stay away from.

Thank you!

No haven't tried anything. This LLC has been created for almost 2 years but haven't done anything with it. Can you point me in the right direction as far as what lenders I should research? I'm going to contact AA credit union tomorrow. I've been with them for about 10 years. I have a credit card, a heloc, and soon to be auto loan to pay off my lease that expires in March.

Hello, I have a potential seller finance deal in Florida. I'm looking to close in an LLC. Can someone tell me what my best option for a line of credit would be? I need 25 to 30K for downpayment and replacing an hvac. This is for a long term rental at 3% interest rate. So not looking for something that I'm going to have to refinance in a year to pay off. Thanks for any help.