All Forum Posts by: Sarah Brown

What are your investments goals?   Do you get a return on the sale? 

You get better financing in your personal name. You can also QC if you want the protection of the LLC. Be sure your insurance covers both you and the LLC, and make sure you have good insurance. Depending on where you are and state laws, many LLC's aren't as protective as you might think.

She definitely has a right to be at the showing.  It does make it awkward, but you'll just have to do the best you can.  She will likely do this for all showings until she vacates.  As far as your rights as a landlord for showing, I would look in your lease.  I outlined in my lease that the tenant agreed to allow me to show the property if necessary to rent the unit out.  If that isn't in your lease, I would put it in there for the next lease.  

You mentioned you had enough in savings to buy a duplex and rent.  Why not buy the duplex, rent out half, live in half, and then buy a single family home in 1-2 years when you need more space.  This allows you to get the investing party started, have someone help your mortgage, stack cash, and invest again. 

If you have enough room on the HELOC, sure. I would refi it in 6 months when you can and take it off the HELOC to get your money make and mitigate your risk.

I just did one through Bank of the West.  Not sure if they are in your area.  I would call some of the local smaller in your area and see if they have any portfolio options.  That is where I have had my best luck. 

I would chat with your attorney about asset protection in that state. I purchase in my name and then quick claim to an LLC, which is then owned by a trust. Understand that as part of the promissory note, the lending institution can call the note due if the title is changed into a name other than the one on the loan. I haven't had this happen, but I also haven't gone into default, or sold utilizing a bridge loan. Also, make sure your insurance covers both you and your entity. Basically, you'll need to talk to a few people to make sure your bases are covered.

How long is it going to take you to make a decision?    Being without a washing machine for a couple of days isn't life ending or urgent.  I wouldn't compensate for having to go to the laundromat unless I left them without one for an unreasonable amount of time. 

 Hi Nathan! Sorry I have been off for a bit.  I am using QB Enterprise, however, I keep track of about 7 or 8 companies within there so the expense makes sense for me. It is done on the QB Desktop platform. 

What is your long term plan?  Do you want rentals with residual income, or do you just want to build up cash?  Personally, I would rent it.