All Forum Posts by: Cory Adams

I had a short sale almost 6 years ago.  Since that time I have purchased a primary residence and a duplex  (in TX).  Credit scores are solid and I have built up a good liquid asset base.  I am currently trying to obtain a loan for an investment in FL and am being told that FL underwriting standards are very strict thus possibly preventing me from obtaining a conventional loan with 25% down.  

Can anybody offer any experiences or advice regarding obtaining financing in FL after a short sale?  Apparently the short sale needs to be aged at least 7 years prior to obtaining a loan for investment property in FL...

I have a little different take on this. If a friend that is an agent gave me access to the MLS his payment is that I will use him as my buyer's agent. Let's face it, after you gain access to the MLS you figure out very quickly that an agent is just not going to be able to give a few listings and comps here and there to EVER help you understand the market to any reasonable degree of depth.

It's almost pointless to go through an agent unless they are good at understanding what it is to help investors. Even then it's a cherry pick situation where you might get something but miss 5 others because you didn't know to look at a slightly different area or use different criteria (which having access to the MLS would have helped you do). This is an area ripe for disruption (as is title search for investors).

Short of that go the assistant route as was mentioned or think about the license. As an aside I would be willing to bet that many of the successful investors on BP don't need the MLS but use their networks to find deals.

@Mike Henkel great story!  Can you please share which wood grain tile product you switched to?

Very inspiring! 

Do you have pics of the outside of the home? What kind of wood flooring is that and how does it hold up to multiple move ins? 

Great job! 

 Perhaps you could offer a 'Service Snake' in order to take care of the rats.  

This is such a great thread.

It sounds like you have a very reasonable and responsible renter.  If the renter will go along with your asks I would say do it to maintain the good will with a good tenant. 

Keep in mind a puppy's primary job is to ruin things.  You might also ask that the renter keep the dog in a kennel (on the premise) while the renter is at work or away.

I had a recent renter sign a lease agreeing to no pets.  She then lied about having a puppy.  I was able to update the lease for the dog and an additional deposit.  They moved out 9 months later and the new carpets were completely destroyed along with scratches and holes in drywall from the dog.    

Regarding partial payments, erentpayment.com will let you disallow partial payments.  I am using ACH to either allow the renter to initiate the payment or have them setup an auto payment.  Late fees are automatically applied after day 3.

Regarding separate accounts per door, capital360.com (formally ING Direct) will let you setup as many savings accounts as you would like.

I am trying cozy.co for a new renter.  Cozy policy is to only deposit to checking accounts and I am hoping that the deposit to capital360 savings accounts will work or at least be transparent from an ACH standpoint.  

Here is my baby http://flightaware.com/photos/view/218593-6a9d0d34... Check airspeeds on a recent flight http://flightaware.com/live/flight/N2360/history/2...

The 2008 downdraft hit me pretty hard as well but I did get back into the game.

Maybe if I sold the Lancair and bought a couple of rental.... Oh hell no!

Why not ask the owner to call his bank's loss mitigation dept and see if they would do a short sale?  It's a long shot depending upon factors that include the owner's fiancial profile, but a bank may want to do a SS vs foreclosure.

If the bank will accept a SS have him list it with an agent and make an offer.  You will potentially be competing against other buyers but if you are the first offer it may fly.