All Forum Posts by: Account Closed

I'm not aware of any website out there like that, but would love to know about it if there is!  You can subscribe to Caller ID services that will allow you to run a number and it will tell you how it is registered.  Sometimes it will come up "Cell" or "Private", but I have used that in the past when I had a weird feeling about someone wanting to meet me for a showing.  That service is at www.calleridservice.com

Hi Chuck,

Hopefully somebody from the area will be able to verify this, but I use the city-data website as it gives great demographics on any area.  Here is the link for Port Charlotte,FL:

http://www.city-data.com/city/Port-Charlotte-Flori...

Good luck!

yes, John, that is correct. But, for a few bucks, it gives you the peace of mind of knowing whether the tenant  qualifies or not.  Good luck!

Hi Andy! Unless you license yourself to open your own office, you will get your license and "hang your license" in someone else's office. The fees vary among the offices. Generally speaking, the larger and well more known the office, the higher your fees will be. I would interview several offices and see where you feel the most comfortable. There is also ongoing training that is required an an agent. You get access to the MLS and the ability to network with other agents. Great for investing! Good luck!

Thanks @Val Csontos! So you are buying all your properties in your name and then Quit Claiming them over to the LLC?

Hello all,

I currently own two 4 unit buildings and 2 Single Family rentals. I have the deed in the LLC name for asset protection and am meeting with an attorney to see if my protection is working well. My question is this....

I like being able to buy properties in my personal name because I can get a lower interest rate and hold it for 30 years as opposed to a loan in the LLC that I personally guarantee, but it is a 5 year balloon with a 20 year pay-out. My last deal I bough in my name and Quit Claimed it over to the LLC. (My banker said he didn't want to know that, but keep making the payments and no problems). Is there a better way to finance to take advantage of our low interest rates and lock them in for a longer period?

Thanks everyone!

Michael Dowd

Dowd Properties, LLC
www.DowdPro.com

Sayo, 

Like the majority posting, I am also a licensed Broker/Investor (in IL).  The only con I can think of is that you can't pay (in IL) non-licensed people for referals.  So, prior to getting my license, I would pay people a fee for referring possible property buys to me.  As a licensed Broker, I can no longer do that unless it's another licensed Broker/Agent that refers that to me.   Good luck!

Hi @Travis Carlson and welcome to BP!  We own an investment company in McLean County with 10 units and are always looking for wholesaling deals to purchase.  Please contact me if you have anything that meets the following criteria:

Single Family: 3+ Bedrooms, 2+ Baths, garage

Multi-Unit: 4 units and up.

Thanks,

Michael Dowd

Dowd Properties, LLC
www.DowdPro.com