All Forum Posts by: Wesley I.

@Robert D. There's no standard verbiage. The LLC keeps its veil by not co mingling funds and by maintaining all the paperwork related to the LLC.

I suggest finding a CPA that also has rental properties and keep educating yourself with taxes. I attend tax conferences at least once a year to learn different tax strategies and network with investors. Mark Kohler has a conference in SoCaL this spring.

My experience with chase has been great. I also use amex for my business CC. Im in SD and have sfr in TX

Welcome to BP! See you around SD meetups

I have drafted plans for covered patios and decks in Coronado, City and County of SD. Which city/jurisdiction are you in? 

@Brian Scott

Im going through the same thing but my loan is conventional and not FHA. I have to pay $500 to get an appraisal but ill do that after I remodel and add a bathroom and install new AC.

What is your current interest rate?

@Barry Clay

You mentioned 2nd lien, is the first lien performing? Why is it in foreclosure? Did the owners pass away? This can drag on for years..

@Samuel M.

I have an excel spreadsheet that you can plug in principal payments and see how much interest you can save. It’s similar to the mortgage calculators you can see online but can add extra payments. It can work on car loans or any amortized loans. Let me know if youre interested

@Michael Ndjondo makadi

Another option to look at is heat pump water heaters. Ive been doing more reading on this and it seems there’s a lot of options now. Most model requires 110V. And cools the space around it - perfect for a socal garage or laundry room.

@Jonathan Bock

Most probably dont know that their marginal tax rate is different from their effective tax rate.