All Forum Posts by: Nathan Frost

Be sure to contact the CAD and have them update the mailing address once you have made a choice. It can take a few months before it will reflect on public records too.

Man, online it says they are $15 a month. Little steep just for paperwork. Might be best to list my business address but in reality I need all the mail/tax papers sent to me. Easier when sent to my primary home.

I paid for the year upfront for cheaper rates, and check it weekly. You could also forward to a personal address, but the address forwarding triggers address updates for some senders. Also, it’s a business expense and can be used as a write off. Always consult your CPA to confirm.

Good point. I might still do it. I just wonder if is really necessary. But you never want a tenant showing up at your primary home. Thats my main concern, though it has never happened.

0 Votes

Wichita Falls, Texas

Quote from @Renee Adkins:

I would recommend a PO Box. It's rather inexpensive. They are available at the post offices on Southwest location and on Lamar.

Be sure to contact the CAD and have them update the mailing address once you have made a choice. It can take a few months before it will reflect on public records too.

0 Votes

Wichita Falls, Texas

Quote from @Renee Adkins:

I would recommend a PO Box. It's rather inexpensive. They are available at the post offices on Southwest location and on Lamar.

Be sure to contact the CAD and have them update the mailing address once you have made a choice. It can take a few months before it will reflect on public records too.

This is what I plan on doing. Just debating to do it or not because I don't have any issues and don't want to pay $5 a month and have to constantly go check my mail at the post office. But it might be smart to do, just wondering if it really is necessary.

0 Votes

Wichita Falls, Texas

Quote from @Jonathan Bock:

I would look into getting a registered agent address lots of offerings for this type of service it will help a little with privacy and peace of mind but you can and will be found...

For example my county took out the name search for property records but if you go to the tax claim bureau site you can still easily search by name and business name.

But I agree keep your primary residence address out of your business dealings it is so much nicer to be served at your registered agent address than your own home

Jonathan Bock, CPA

How do I get an agent address? I want to do this.

0 Votes

Wichita Falls, Texas

Hi, I have a few rental properties in my LLC name, however, I looked them up on the county website and it has my primary address for the LLC. This is correct but what do you all recommend for protection as far as this goes? Should I get a PO Box for my LLC address or should I just go ask the county to change it to my work address. I really don't want my primary address listed. Any suggestions? I don't want to spend a lot if I don't have to. My first thought would be a P.O. box address (just hate having to check it monthly).

0 Votes

Wichita Falls, Texas

Hi, I am currently looking at a deal but don't have the cash to buy. But do have financing and could get a hard lender if need be. How can I buy the investment property when it says in the notes - Non Contingent Financing only.

0 Votes

Wichita Falls, Texas

Quote from @Corby Goade:

Quote from @Nathan Frost:

Quote from @Corby Goade:

Quote from @Nathan Frost:

Quote from @Corby Goade:

Quote from @Chris Seveney:

@Nathan Frost

You cannot with a bank

You will either need to have the seller carry a portion of the loan or find a private lender who would consider the deal

The answer is- it depends. Poster above is right- there will be a minimum down on a purchase from any conventional lender. It's not as if you can get a high appraisal and they bend federal loan guidelines for you.

When you are thinking of the LTV that the bank will lend on, that's for a refi- on a purchase, there are guidelines they must adhere to and unless you live there, it's going to be at least 20% down on the contract price- if it appraises higher, they'll tell you congrats, but they aren't modifying your down payment.

Obviously with seller finance and private money, anything goes, that's a different conversation.

What do you recommend? Purchasing it 20% down then refinancing it later?

There's not a right or wrong way to go about this. If you work with the seller to finance the purchase, you can do whatever you want, but their situation must allow for that and you have to be savvy enough to explain the pros and cons to them and win their trust.

With Partnerships, you lose out on some equity and/or cash flow, but it also mitigates your rist.

Sounds like a perfect candidate for a BRRRR, which is my favorite, but you'd have to tie up your cash in the deal for a year in order to refi conventional, but if you are confident about your numbers and the market, you can be all in and have full ownerhsip of the property with none of your own money left in the deal.

Just have to pick the risk and reward balance that you are comfortable with.

I like this plan. Only part is the duplex is rented out both sides. What you think if I just painted the exterior and maybe some fixtures inside then refinanced in a year? Could still get money back right?

As long as there's 20% equity or more, yes. Even better terms if you are at 25% plus. Good luck!

Would these terms be commercial lending right?

0 Votes

Wichita Falls, Texas

All Forum Posts by: Nathan Frost

Nathan Frost has started 106 posts and replied 336 times.

Post: 100% Funding Jerry Norton

Post: Refinance Advice on Portfolio of Rental Properties

Post: Pace Morby Multi Family Fund

Post: LLC Address (What is best for security)

Post: LLC Address (What is best for security)

Post: LLC Address (What is best for security)

Post: LLC Address (What is best for security)

Post: LLC Address (What is best for security)

Post: Non Contingent Financing Only

Post: Buying a home at 70% the ARV or less.