All Forum Posts by: Terry McPherson

What or who is a trusted lender for those?  A few of the big banks I’ve called won’t do them.  Hoping I can find an answer here.  Thank you 

What or who is a trusted lender for those?  A few of the big banks I’ve called won’t do them.  Hoping I can find an answer here.  Thank you 

Yes very worried.  Seems good in the short term.  Long term not so much.  Ken McElroy has some excellent youtube video’s on some of the things going on now. 

Andrew,

We did the same thing in a different city.  We just finished getting our first one set up and this hit.  For us we are holding off to see if it passes over in the next couple of months.  If not, then we will put it up for long term rental.  

My gut would say if someone left a review at this point in time that contracted or had the virus while at our property it would be very difficult to re-advertise, and how do I answer the question of decontamination?  So we are going to hold for now.  That will be a short term loss and we are willing to float the note with our other long term rentals until this blows over in hopes the AIRBNB strategy will make up the difference in the future. 

Hope that helps.

Thank you guys for your time and input.  Decided to hold at least for a year, for the very reason you stated Mike. 👍🏻   Can’t hardly stand the thought of giving up 30% of the profit.   For me those profits don’t come around to often so want to capitalize as best I can.   Thank you guys! 

Regards, 

Terry

Recently purchased a 3B / 1.5B and my intent was to rent and hold. I have 122K invested total after rehab and was initially estimating the house had an ARV of 150K. Found out today that was incorrect. It would be valued at 200K. Vary happy about that but never had that happen before and would like someone's opinion on should I keep and rent or sell and take profits and reinvest? Thank you in advance.

Terry

Awesome insight and information.  Thank you all very much for your time.  Will get to doing some more research and make the decision.

Regards, 

Terry

I am looking at purchasing my first multi family ~40 units. Would it be wise to structure a out of state LLC (Nevada) for anonymity and asset protection? I currently have an instate LLC which has 4 Properties in it getting ready to add the fifth SFH. But the multi family I was going to put in a separate LLC. Any advice is appreciated.

Thank you in advance,

Terry

Tom,

Great info and will do.  

Thank you,

Terry

Steven, 

Got it and thank you.  Will know going forward.  

Regards, 

Terry