All Forum Posts by: Daria B.

I selected a few topics to follow and now I want to un-follow some. Is that a choice I can make or is it that when I choose to follow one it's always followed.

Thanks

Daria B

Oh my gosh @Sean McNamaraI will be reading for days and days. I subscribed to Mark's newsletter to get additional information. Very interesting read on his rental property #5, calculators, and overall strategies he employs.

I also downloaded the flip and fix calculator and found that company has a rental calculator that should help me.

At this juncture I also am trying to narrow down and decide on one set of tools. I started with my own spreadsheets and then began finding others that had most of what I needed and more of what I didn't have yet. Though what I've found is, if I enter the same numbers into multiple sources of spreadsheets I get different answers so they must be using different calculation methods or including/excluding $$$ in the line items. Like I found one spreadsheet that didn't include PM fees as part of the Expenses. I have always done that and I found some others also include these, but in that one case that person did not.

You have been a tremendous wealth of information thanks again!

Sure @Sean McNamarawhat I meant by questions are those that would help me with beginning dialogue to a local banker to find it they do what you described is a "portfolio lender".

On my trip to the bank yesterday I talked to the President who deals with commercial loans. I asked if they were a portfolio lender, knowing enough that if they were they would hold the loan and would not sell them, but he didn't answer my question. He started talking about the difference between the secondary market and commercial and that I should look to the secondary to max out the 4 mortgages. During the conversation he asked how many I currently had, which is 2 from the secondary market.  This of course I thought was not good advice because he doesn't know my circumstances and it should be that all the financial options are looked at rather than give a blanket statement as he did. 

But I digress, I'm trying to learn about options other than what I've always looked toward, which is a fixed 15 or 30 yr at x rate. I'm reading a lot of posts about other investors and the better financial options they seem to have.

I did Google for portfolio lenders but the descriptions were no where near what you described. I've just not hit on the right verbiage and now that I have a better description I can revisit Google. I also looked for REI and nothing came up in my area. I know there have to be investors here I've just not found them yet.

@Shai Bukimay I ask are you looking for a portfolio lender? I had a discussion yesterday with a local bank but didn't quite get my answers from them. I wanted to speak with a portfolio lender to learn what I need to see if there is a case for me to use one. I asked specifically if they were a portfolio lender but what I got was an explanation on the difference between the 2nd-dary market and a commercial loan. That wasn't necessarily helpful.

@Sean McNamarathanks for the simple explanation. How does one go about finding a portfolio lender and what questions should be asked to get the right answers? My questions to the local bank didn't prove fruitful. I did find out that 4 mortgages in the secondary market are the max one can get, which is why some I suspect go to commercial loans or other financial resources. i know that for a multi-family over 4 is considered commercial.

@J ScottI will be talking to my CPA this Friday and from this topic he and I have a lot to discus. Venturing into flipping has now posed some questions I need to get answered. Though I am but-n-hold I did want to experience a flip or two.

thanks @J Scottand I hope I didn't derail@Tami R.initial question.

@Chris Simmonsresponse though seems that holding long term capitalizes (no pun) on the sale for "I now flip houses after they have rented for a year...."

@J Scott@Wayne Brooksok thanks for the correction. How then for the same of "intent" is this documented so that at tax time it's considered correctly. 

Hi @Shane Pearlman

I too am looking for investment near a university. My thoughts are: constant rental. My experience is in 3/2 SFR so I'm venturing out to multi for the constant rental. Will it be more of a headache, I don't know....I would definitely factor in "do I need to factor higher repair / turnover than usual".

I recently spoke with an agent who has over 20+ properties and looked up the areas where those rentals were located. None of them were closer to the university (as in 1 mile or 2) but they are all rented. Some are grad students and families and working individuals. So in case I'm not able to find something or just can't do the student-rental, I'll be looking in those other areas.

I agree with @Stephen Hundley you have done well with this multi. Good luck @Tom Vic and as I read your post I felt as though I was there. :) 

Great job and I will keep in mind the carrying costs for my next one. Up to now I had not put much thought into it but it is important.

Hi @Tami R.you may want to seek the advice of a CPA they can definitely give you the right answered for your tax situation.

In my case and from my own experience , from what I understand anything held more than a year is long term capital gains and anything shorter than that term is considered short term capital gains. Regardless, capital gains will come into play its just which one will be applied given the circumstance.

Because you intended to flip the property and then held onto it "I think is irrelevant" because it has to do with length of time an asset is held rather than the intentions of what was going to be done.

Again, you should seek the advice from a CPA they can look at your particular situation.