All Forum Posts by: Shoshana Shulman

Amir,

Would you be willing to share who your property manager is? I have not invested long distance due to knowing that the PM is the key to getting and keeping good tenants, and I want a long term PM I can rely upon.

Thank you. 

Shoshana

I receive offers of various turnkey properties in the U.S. from Mike at Global (he seems to be based in the U.K.). I received one for a two house property on one lot in Ohio near Shaker Heights. It looks good on his ad, but anyone have experience with this person or this company? It seems too good to be true.

shoshana

There's an REO I'm interested in. The bank, through a real estate dealer, is asking 85,000, but the real estate dealer says that there are multiple investors vying for the same thing and I should go as high as I can, and as high as I think it is worth it to me to get the house, as the banks look for the highest offer and fast closing, and there are multiple cash offers.

Here's my dilemma. I have to take the time and effort to liquidate a deferred annuity (18,000) and empty a retirement account (5,000) and add it to ALL my savings in order to come up with 90,000, so I can offer 90,000. It's tight, as there will of course be closing costs, and some renovation costs, but I want to show I have the money in the account.

I can open an LLC for 250-300 dollars within a week, or I can just work with a title company to show a sort of temporary LLC in case I don't get the house.

I need to put down earnest money (say, 1,000).

All of this requires time, effort and a bit of difficulty as I live overseas.

I know I won't get every REO I bid for, but I was wondering if it is worth it to do all this, assuming the bank will reject my offer, in the hope that there will eventually be a property that is worth what I offer for it, and I will get it if I keep making offers.

Also, if I show I have an LLC that turns a profit, what are the tax implications? How are the possibilities for getting bank loans/mortgages for another property affected by having such an LLC?

Thank you for all your advice.

shoshana shulman

I don't know which bank owns it, and I don't know how to find out.

I found an REO that is listed with a certain agent. I put in both calls and e-mails to her, and she says she is available, but she is not putting in my offer. I am ready to go to contract, and she won't write the contract. I asked her if she thought the bank would accept the offer, and she said she didn't know, but I should make the offer anyway. Now I'm stuck, as she isn't sending me the contract.

Is there another way to contact the bank about this property? Is there anything I can do?

I checked out her 'office,' but it seems like she is in business for herself, and is an independent real estate agent, so there's no one else to contact at the 'company.'

Thank you for any and all help.

Shoshana 

If you don't want to lose the deal, and you can't come up with hard money lender, maybe you can get someone to go into the deal with you, so you'll at least have 50% of a deal.

This is inspiring.

Thank you.

I am looking for buy and hold in Baltimore, but I avoid the city zip codes due to the high taxes and water bills.

Maybe I should look into partnering with someone like you.

Shoshana Shulman

I'm looking to buy a duplex , and it sounds like Orlando may work for me.

Could you tell me how to get in touch with Norada?

Are they currently managing your duplexes and are you satisfied with them?

Thank you.

Shoshana Shulman

Does anyone have any experience, good or bad, with buying a 'cubicle' of work space in a shared work space environment from an investment company?

Thank you.

Shoshana 

I am concerned that a condo will not hold its value as well as a single family, but I am not able to afford a single family in the type of neighborhoods I like to invest in. I found a condo in a B+ area that has reasonable HOA fees and rules (they allow tenants/renting and pets) and the numbers work.

I would like to hear from others who have invested in condos for buy and hold, and how that has worked out for you, bad or good.

Thank you.

Shoshana Shulman