All Forum Posts by: Ryan Sajdera

@Deanna McCormick 

Yes, i though about just pasting my name into it, but would that make the original lease void then? I don't want to copy-paste and have it drop all of its legal value because they didn't sign it originally with me on the lease. 

Ryan

how well does the steel hold up to the ice and hail? hail is probably the biggest concern in kansas(other than the tornados)

what do you all use for your rental properties? I'm acquiring a new property that needs a new roof in the next year and I'm thinking about steel for the high winds in kansas. Does anyone have any input on their preferences and why? cost benefits of each?? thanks! Ryan

Hey BP! I have a question about transferring a lease from a property manager to myself. I'd like to use the company's lease to avoid confusion for tenants, but it's got their name and company address all over it. how do I go about changing over leases especially with a co signer requirement? do I need to redo the whole lease with my name on it or can I simply adopt the lease as a different landlord? anyone have any tips or experience on this? Ryan

Hey BP! I have a question about transferring a lease from a property manager to myself. I'd like to use the company's lease to avoid confusion for tenants, but it's got their name and company address all over it. how do I go about changing over leases especially with a co signer requirement? do I need to redo the whole lease with my name on it or can I simply adopt the lease as a different landlord? anyone have any tips or experience on this? Ryan

@Russell Brazil  yes, I definitely want to lock in a 30 year as soon as I can. Problem for me is my debt to income ratio is too high at the moment, so the only financing I could get was through a commercial loan and they won't offer a 30 year fixed. I can refi after next tax season when I have 2 years of rental income to report. I'm just too new to have credibility with a lot of these places.

@Marshall Martinez and @Joe Splitrock,

a 5/1 ARM is the only loan they are willing to offer me. I cant seem to get financing on a 30 year note for an investment property. I can refinance down the road they said, but right now this is my only option.

@Andrew Postell 

Haha yes seems to be a pretty reliable principle!!

I guess it just makes me nervous because I know that's a couple HUNDRED dollars that you miss out on simply because of an interest rate. Its already difficult to find properties that cash flow so much and then to take a major hit like that would really be hard.

Hey BP,

Just wondering what everyone's thoughts were about the rising interest rates. Do you think we will ever see 8% interest rates again? If so, how do you possibly make money in REI if you are paying out the nose on just interest? I am working up a loan now and its a 5/1 ARM. I'm a little nervous about what interest rates might be in 5 years. Any thoughts??

Ryan

That seems like the answer to most of my financial questions! haha