All Forum Posts by: Sunil Kapoor

Hi All,

I have a few SFH's which don't cash flow so much, but I have a great 30 year fixed loan with a low rate on them. I'd like to increase my cash flow and one thought is selling them on a wrap.

My current P&I payment is $280/month with 25 years left on my mortgage.

If I do a wrap at 30 years, 7% the P&I payment would be around 980, giving me $700/month of cash flow and no other costs.

Sounds simple, but the devil is in the details. Has anyone done this, or have any advice?

Thanks!!

Hi All,

I have 9 properties spread among 3 states. My properties in 2 states account for about 80% of my cash flow, but the 4 SFH I have in Birmingham account for only 20%.

I don’t want to sell as I’ll incur lots of tax (as they were part of a 1031 in the past), but wonder any strategies like seller finance, etc that could possibly result in higher returns on these properties.

I am curious what other BP landlords do when a few properties in their portfolio aren’t pulling their weight….

Thanks!

Yep, totally forgot about that fact that the houses still have loans on them. 

 I would personally go the Subto route, because you will never get a mortgage interest rate like your brother received on this property for the foreseeable future.  This might reduce your payment by half!  Also, by getting a new mortgage, you will essentially make money for the banks.

If the bank is willing to add your name to the mortgage, then I would definitely pursue this option.  From a tax perspective, your brother and you both can't claim the interest benefits.  You can view Pace Morby's videos as he is big into this strategy.

Just curious of what others think of this Plan B option.  Since these properties are on the low-mid price range, and buyers of these properties might have below average credit, would selling these properties using seller financing be a good exit?  In this regard, you will still own the note, get payments monthly, and likely a higher selling price?  Has anyone used this strategy to exit from LTR properties?

Thank you for all the valuable tips!

Hi Everyone,

My largest maintenance issues have been water related issues that went unnoticed until they became large issues. These usually start as a dripping pipe under a cabinet that a tenant doesn’t notice (or report) which grows into a larger issue over time.

I’ve been reading about various water sensors, remote water cut offs, humidity sensors, HVAC sensors and so on, and am interested in using these.

These seems like good long term costs to endure for a long term landlord. I am wondering if anyone has used these sensors, and if so what brand and how useful have you found these?

Thanks Everyone!

Sunil

I did 3 1031 exchanges for my California properties last year and used @Dave Foster and his team.  I had a great experience and learned a lot from him!  Good luck!

Hi There,

Just a bit more info on my situation to add clarity. I have several properties spread across 3 states, so I am setting up one LLC to hold each state's property. They then are held by a WY LLC as a holding management company.

Each definitely will have its own bank account, however the separate email IDs seems the only piece I wasn’t sure on.

Thanks again for all your thoughts!

Hi All,

I currently have 3 LLCs managing my properties, and those 3 LLCs roll up into a "holding entity" LLC, taking my LLCs to 4 in total.

I understand that I need 4 separate bank accounts to prevent co-mingling of funds, but in addition each of the LLCs is communicating the property managers/mortgage companies/etc.  

Therefore, should I also have 4 separate email addresses that each LLC uses to communicate to the various property managers/mortage companies/banks/etc?

That seems like overkill, but just want to check