All Forum Posts by: Brenda Yogyog

@Grant Doyle I had a simmilar situation where my previous landlord wants me to buy her house as my investment prior to her listing it. Someone suggest that I ask her to raise her asking to how much she really wants to sell to help lower my down payment. She agreed and I started the loan process but the it didnt go through because my debt to income ratio is high and need a co borrower but i can’t find ine at that time.

I am interested in looking at some properties in Vancouver, Washington and some parts of the rainshadow areaas like Port Angeles and Port Townsend.

@Michael Magno

I appreciate your input on this. As per information the partner bought two lots. Other partner want to sell the lot and our seller don’t. They split the lot into two our seller is selling his share but split was not done well i suppose that he needs the signature of the other person.

I was on contract to buy a land in Sacramento through my realtor. I deposited on escrow 10k in January. Seller’s realtor said that his seller and his partner on the land were fighting and the other partner doesn’t want to sign and for that reason it is not closing until now. Realtor said that seller get a lawyer but still his partner is not complying. Seller always say working on it and getting close but no progress til now. Any advice?

@Brenda Yogyog

25% down payment for commercial loan from fund.me, hard money lender, 30k inspection, appraisal fee and closing related cost. Hope this information helps. As long as you do your homework, starting with 8 plex is same sa duplex.

Hi! @Senia E Cuevas.. welcome to REI! I am excited to see you accomplished your goals. That is what i am praying as well to have at least 40 doors in my portfolio in 5 years. I just close this January an 8 plex. I want to share my experience if that helps you. I started with conventional loan but then in the process 1unit is reported not paying then another unit will be vacated and when we close 3 units are not paying. I ended up getting the loan from hard money lender. Luckily we get sort of cash back through our contractor to cover 20k repairs and 10k discount to help us with closing cost. We updated 1 unit, painted and fixed plumbing. I spend 10k but expect to spend another 5k next month. It is going to be bumpy at the beginning but I expect that once i refinance next year i will expect cash flows.

I inherited 3 tenants that are not paying in Sacramento, California. These tenants did not show any hardship certification due to covid. One tenant decided to stop paying for 7 months now, another tenant stop paying for 4 months and 1 tenant for accumulated 2 months balance. 3 tenants are not showing certificates of hardship due to covid. Only one among these 3 are showing 25% effort to pay the monthly. Previous landlord gave me cash back and discount to cover for income lost hoping the eviction moratorium will end this January but it seems it will be extended. Any problem solving ideas.

@Collin Schwartz

Thank you for sharing this information. Very straightforward and motivating. My husband and I got 6 doors apartments in 2014 and build ADU in our residential property in 2018 but snail moving but we started picking up again by closing 9 door apartment at the end of this year and looking to build our portfolio forward for 5 years.

@Zachary Cura

On our first rental, we inherited one non paying tenant and 1 bad section 8 tenant. The place was newly renovated, after 6 months, she trash the place, pest was uncontrollable and water bills surge but we dont have any comparison. Section 8, The housing failed the unit and tenant decided to move out while i was transitioning manament to Property management (PM), PM send notice to non paying tenant and he left. So far its been 5 years that all tenants are paying, one was delayed for two months during the covid but updated her payments. It’s not easy but part of the business.

I am in contract with 8 plex that will close 2nd week of January. It has 3 that are behind in rents so i didnt qualify for conventional loan, i have to use hard money lender. The owner is tired in dealing with tenants. In the records one tenant started not paying anything at all since May, the other one since July and the last one started in September. I might have to deal with evictions when available.

@Kirbi Campbell

Purchase a multiplex and a lot. Hoping to start construction a single family home on the lot by the end of 2021.