All Forum Posts by: Chris Igard
Chris Igard has started 22 posts and replied 47 times.
Post: Tenant broke lease how do list it on there rental history
- San Antonio, TX
- Posts 56
- Votes 10
Thanks for the reply. Curious how apartment complexes get it on your renter history or credit report.
Quote from @Adam Martin:
I really don't think there is a database for bad tenants outside of the credit bureau. If they left owing money consider suing them in small claims court to collect a judgement. You are unlikely to get paid but that doesn't mean it is impossible and for the cost I'd do it. My first priority though would be to get it rent ready and focus on current and future profits. After you win your case google landlord collection agencies. Even if they don't collect the name of the agencies alone would make it hard to rent in the future and who knows, they may need to clear their credit for a job or to buy a home and you may see some money. There are going to be a lot of people telling you to get over it and it isn't worth the effort but if we all followed through we would all have more warnings and avoid bad tenants plus maybe people would think twice if they knew there was a high likelihood of consequences. Although I would know deep down it was probably a waste of money and time there is a part of me that likes a good mix of justice and spite as well of the unknown of possibly seeing some money owed.
Post: Tenant broke lease how do list it on there rental history
- San Antonio, TX
- Posts 56
- Votes 10
I posted this earlier but I think it was confusing. I’d like to know if I can report this broken lease on their rental history. Secondly if they leave the place trashed can I file it on their credit report. thanks in advance.
Post: How do you post an eviction to tenants renter's history or credit report
- San Antonio, TX
- Posts 56
- Votes 10
Thanks but do any of these offer a service to post the eviction of a tenant or post it on their credit report?
Post: Am I making a poor decision
- San Antonio, TX
- Posts 56
- Votes 10
Hey Caroline thanks for the reply, it is a bank foreclosure. I've been an agent for a while now, the comps are spot on. The risk is what I am concerned with. My income will increase, credit will stay the same. Thanks again
Post: Am I making a poor decision
- San Antonio, TX
- Posts 56
- Votes 10
I found a home for 200K with a $120K renovation loan. Between the contractor and myself we can address the issues with the home for $40-50K with the remainder going back into the principal of the loan. The renovated home will appraise at $400k. The home is ahead of gentrification in a very nice area. Most of the homes in the immediate area sell for between $500-$550k and double and triple the amount about a mile in any direction. I went under contract with the plan of moving in and living in the home for 2-3 years and then renting the property. As a primary loan it would cost 5% down with discount fees. I was told the other day by the bank that it would be financed as a investment property and require 20% down with points. This would deplete my savings and put me in a very tight bind. Would it be smart to purchase the home and do a cash out refi in 3-4 months for the money lost with the down payment or just walk away. The home loan would finance at $320K with 20% down bringing us to $256K. The remaining amount of the unused portion of the renovation loan would go back into the principal at $70k. This would bring the principal down to $186K. The renovations will take 3-4 months to complete but could be done faster if I work on more of it. The goal would to be to cash out at that point once we move in. Please help, thanks/.
Post: How do you post an eviction to tenants renter's history or credit report
- San Antonio, TX
- Posts 56
- Votes 10
Anyone out there have any good information on a cost effective way to do this for someone with fewer then 10 doors? Thanks
I need a lender that’s familiar with a conventional renovation loan. I need to move off of the lender I started with. This would be used as my primary residence. Please dm if you’re interested.
Post: 203k mortgage deferment during rehab
- San Antonio, TX
- Posts 56
- Votes 10
Thank you
Post: 203k deferment during rehabilitation
- San Antonio, TX
- Posts 56
- Votes 10
Thanks
Post: 203k deferment during rehabilitation
- San Antonio, TX
- Posts 56
- Votes 10
Thanks Bob, I appreciate it. These are for the 203k standard I’m doing the limited. I appreciate you all the same though.