All Forum Posts by: Jeff N.

Recently I have been working with two investor friendly buyer agents to find a potential rental property (100-150K with 25% down).

Both said there are a lot of good deals out there for rentals that match my criteria. Both sent me an initial MLS query of a few properties they like, but when I replied with a cashflow analysis of the properties showing they didn't cashflow well, I never received a response from either. I assumed they would shoot me a few more properties to look at, but never expected no response, especially after they both said a lot of good deals where in the area.

When a buyer agent says there are a lot of good deals, Am I expecting too much to ask them to prove it on paper? I have bought in the area a few times in the past so they know I'm not wasting their time, what gives?

If I transfer the title to a sole member(me) LLC using a WD, but still hold the mortgage in my own name will I need to change anything with my liability and umbrella insurance?

Rich, how long do you plan on holding the lots you are buying. Are you buying with the intent to resell the lots or are buying to build?

I'm curious because lots are a fraction of 2008 prices in my area and have thought about picking one up myself.

Trying to submit a purchase agreement on a property but my agent doesn't work on weekends or weekdays after 6PM.

I have bought a few investment properties in the past and never had this issue with previous buyer agents. Just thought I would share.

Not going to bypass the agent since they did find the property, but if the deal goes south I'm definitely on the hunt for a new agent.

Your thoughts?

I own a primary within a few hundred yards of a major military base in Virginia, the line to get on base in the mornings literally backs up past our development. I bought it in 2008 with plans to convert it to a rental, which I haven't done yet. Most of the homes in our development are rented to the military with extremely low vacancy rates. Yes, the deployment schedule is high, but dependents still stay at the residence so it shouldn't effect the investment in a negative way.

Sort of. If you rent to the military you have more recourse on getting late rent or any expense due because you can submit the issues through the tenants military chain of command. In most cases it gets resolved fairly quickly. So this is definitely a plus when having military tenants.

The down side is that military tenants can break lease agreements if they receive emergency orders of transfer. These emergency transfer orders will trump any lease agreement. As a previous Navy veteran, emergency orders are not rare, they do happen, especially these days when we are fighting multiple wars.

If you own the company can't you just use your company tax returns to show your positive cash flow. I dont see why you would have to place yourself on payroll to qualify for a loan if you are a sole member of the entity.

@kyle, I would be interested to know what is your return % including defaults?

The 10% rate that lendingclub advertises includes defaults. It's based from a 20K investment spread over 800 notes including defaults.

Would appreciate some feedback on anyone that has invested or researched lendingclub.com

I have done some preliminary research the past few months on my side and it appears to be creditable.

Another question I have is how do notes I purchase appear to another lender. For example, if I purchase 10K of performing notes, does the full 10K count as an asset when applying for credit for an RE investment or is it treated as an income in respect to payments received?