All Forum Posts by: Manuel Savorelli

Found a 9 plex that cash flows after underwriting it including property management and all expenses. About to create LLC. My question is regarding insurance. At what point will I need to discuss insurance on building and what type of policy is recommended? Thanks

Thanks James, 

This would be a 4-plex, seller wants cash only, but I think Provate Money would be fine as well.

Your thoughts? 

as an out of state investor. I'm curious if anyone has any opinions as to whether I should open an LLC or protect with an umbrella policy?

Also, could anyone recommend a Real Estate attorney and property management company in Cleveland?

Thanks

...as an out of state investor. I'm curious if anyone has any opinions as to whether I should open an LLC or protect with an umbrella policy?

Also, could anyone recommend a Real Estate attorney and property management company in Cleveland? 

Thanks

thanks to everyone who responded privately. 

Is it also the case that when your invest in out of state properties,  you have to file taxes in that state in addition to the state that you reside in? 

Thanks again

Hello BP,

Looking to do due diligence and set up an out of state LLC for a property out in Lewiston, Maine. Could anyone recommend reputable professionals in these fields?

Great thread, looking to buy an out of state MFR that is currently being rehabbed. The area is low income, plenty of Section 8. The current landlord tells me that there are more S8 people than apts so occupancy will be quick.

My question is regarding property management for S8 out of state properties.   Is there something that I should be on the lookout for in particular due to 100% absenteeism? 

Should I reconsider deal altogether? The building cash flows well so that's why I'm torn.  

Thanks

Trying to do due diligence on Central Maine Property Management up in Lewiston and I'm curious if anyone's either heard of them ore preferably, dealt with them. 

Thanks much

what if I went in with 25% or 30% down and borrowed 75% or 70% from private lender?   Would I then be more likely to qualify for refi with a conventional lender after 12-24 months, when the PML balloon payment would come due?

Julian, I hope that the next 12+ months of steady rent hence income, plus steady cashflow, and steady history of payment on note, will remove doubt and hesitation on the part of conventional banks.

Thanks