All Forum Posts by: Wendy Thurst

Looking for advice on getting started with first commercial mortgage in our LLC. Been in property mgmt business for 2 years and looking to put properties in the LLC (out of personal name) in 2022. Thank you!

@Patti Robertson thank you!

@Elijah Wichers

Noting an important distinction between down payments using PMI: I have found that FHA 3.5% down involves PMI that stays with the life of the loan. In other words, the only way out of it is to refi the loan when you reach 80% loan to value.

In the case of 5% down: PMI will automatically be eliminated when reaching 78% LTV or can request it dropped if you know you're at 80% LTV. In my case, at 5% down, I've got a great low APR% loan that requires no refi long term (unless I seek equity cash out). Moving out/rent it after 12 months and rinse & repeat!

For investment property purchases I have to put 25% down so no PMI and a nice low conventional APR. Using this scheme for the lower purchase prices (e.g. condos, rehabs) keeps the out of pocket low.

Looking for a CPA with significant experience in real estate taxes for my RE investment LLC, in Nashville. Suggestions?

@Tom Hacku thank you, this is helpful!

@Matthew Allen there are quite a few homes in Nashville vicinity that have converted garages in to separate apartments. Good luck to you!

Currently have SFH rentals in Tennessee and just came across a fix and flip with a partner who wants out of her parents run down estate house in Virginia. Best options for the win/win solution? Do we set a contract with a quick claim deed/renovate with cash/sell and split % proceeds? Seeking advice from those who have done fix and flips. Thank you!

@Collin Schwartz great information thanks! We are new SFH investors in Nashville and are reading everything we can get our hands on!