All Forum Posts by: John Levora
John Levora has started 4 posts and replied 6 times.
Good point! Thanks!
My wife and I are trying to decide on a name for an LLC I know this is not necessarily a big deal but any thoughts on the Importance of this? Clever or Conventional?
Post: Closing on our first Property Opening an LLC in Michigan. Questions?
- Coloma, MI
- Posts 6
- Votes 0
Hello, My wife and I are about to close on our first Rental Property in a couple weeks here in Michigan and want to place to in an LLC. Do you think we should use the 24 hour service to speed things up? Do we need an Employee Identification Number since it is just us? Any other thoughts are appreciated! Thanks
Post: Using a HELOC to pay cash for Fixer, Buy and Holds then Refinancing.
- Coloma, MI
- Posts 6
- Votes 0
Using a HELOC (on my paid off home) to buy Houses to rent, that need work Then repairing them and placing a mortgage on those houses. This seems like a good plan in order to be able to offer "cash" for deal. Anyone doing it this way. Should I have to pay for the appraisal to get a home equity or did your lender cover it? Is there better options that I am over looking? Thanks everyone!
Post: $17,000 House Do you think this is a good one?
- Coloma, MI
- Posts 6
- Votes 0
I spoke with the Tax assessor today and She said don't count on the Taxes being any lower. Also the $525 is about all I will be able to get. So looks like a pass. Thanks for the help!
Post: $17,000 House Do you think this is a good one?
- Coloma, MI
- Posts 6
- Votes 0
Here is what I am looking at a single family home which will be a cash deal $17000 and about $3000 to have it ready to rent. Management fee is 10% including tenant placement. $1350 a year taxes and $600 for house insurance. it should rent for $525. What do you think?