All Forum Posts by: Schnell Johnson

Please add me to your buyer lists!

thanks, I will check it out. 

Hi, I started on bigger pockets a few months back, I purchased a property last month and now the repairs are complete and I am ready to rent out. I purchased the property through my self directed IRA with checkbook option. My banking account for my LLC is with Capital One. I need the funds to go directly to the LLC acct and there are several limitations since it is an SDIRA account. *I don't have a property manager. I saw some online options on a bigger pockets blog but it doesn't provide fees are a comprehensive comparison.

What is the best online option to collect rent?

I opened an SDIRA with checkbook option a and purchased a property with the funds a few weeks ago! 
@John Underwood 

@John Underwood, do you have mortgages on any of your accounts? Do you have any recommendations for getting a non recourse loan?

The bridge financing from Sherman Bridge really hurts the numbers on this deal so I have to find another option.

Thanks for the info. I am researching more options. 

Hi, I am considering using bridge financing through a hard money lender in order to put in a cash offer. I am in Atlanta and the seller is only considering cash offers. The hard money lender’s terms are very expensive and as a result I will need to quickly get the place renovated and rented so I can refinance into a conventional loan. The hard money terms takes a big bite out of the profits. Is there a better way to obtain bridge financing that is cheaper than 10.5%? 

Thanks. I am waiting to hear back from the seller regarding the separate meters. I will check with the county zoning.

I am looking at a multifamily unit in Macon, Ga. It was built in 1900 as a single family but was renovated in 2018 as a multifamily. Does the house need to be registered as a multifamily with the county in order to rent out the apartments? How do I find out if it is registered correctly?

I look forward to talking with you in a few!