All Forum Posts by: Craig Smith

 I texted  the number on the business card that was left on the front door. He texted back that he doesn't know anything about anything, and he doesn't even know the name on the card. Funny the info on the card matches the name and number on the website I found via a search online. So, I think that should be a positive if I need to goto court,  that he denied in the text he didn't know his own name. Providing he really does still have the same phone number. 

Ahh, sorry. The reason you should always have a will. The Lady behind me died of brain cancer about a year ago. Her husband turned out to just be a boyfriend. They had a meeting scheduled with their lawyer 2 days after she passed. Since she didn't have a will the property transferred to her 2 sisters whom she despised. So he continued paying the mortgage till June or July and they supposedly took over the payments. But they are both broke. So the B of A is pure speculation (and hope) on my part at this point regarding my situation with the changed locks. 

Actually he left a business card and said to call. none of the normal paperwork you would see posted. That has me worried a bit worried. See what happens when i get ahold of Bank of America

Nope. I actually got a cop to come out the second day and he said the same thing it was a civil case. He said just document everything and goto the Magistrate and file. 

 LOL, I bought one from a bank, they kept cutting the grass and even pickup all the leaves for almost a year after I closed. 

The worst part of this whole thing is that Every now and then I'll wake up in the middle of the night thinking I completely forgot about a property I own, or forgetting to pay the taxes and losing it to a tax sale. So when the contractor called and described the situation I felt that panic. You kind of start to second guess yourself,  did I miss not paying the taxes, (it never completely went away till I verified with the county that everything was current). 

Yeah, I believe it might be the Mobile home behind me. I got there, called the cops. They just take a report.

Texted the number on the card. Person claims he doesn't know  the person on the card. The cops said just sue him anyway the Magistrate will side with me.  They wouldn't call the number or get involved any further than taking a report. 

So it appears the guy came in and winterized the place. Emptied the hot water heater but didn't turn off the breaker, broke a drain pipe while trying to look or get in via a window. Those damn Winterization stickers everywhere and my garage door isn't working anymore. Missing my 80v battery and charger for my chainsaw. Guy went through the house and drawers. 

I'm going to try and reach out to Bank of America and see if I can't get help that way. Mostly its a pain in the butt. Time and money wasted following up.  

Short and the sweet story, My contractor goes to my flip today to find the locks changed and lockbox on the back door. I own it free and clear. Taxes are paid. I even checked the county database I still own it! HEHE....

Been out of this house for a year and I just finished renovating it. I was planning on heading over to it tomorrow for a final punch list before listing it for sale. I had my contractor stop by today to drop off some stuff from another property further away. He gets there and sees a lock box on the door and tire tracks in the snow. He was last there 2 weeks ago. He goes to use the garage door opener and the door starts to open and hangs up a few inches off the ground. Not having the keys and he cant quite get in under the door he starts looking around the house, following the footprints in the snow. He sees someone went up the back deck, tried looking in windows by using the sump drain (which they cracked in 2 places) finds a note on the front door in an envelope. Has some contractors card in it and a note to  call him. So my guy drills his way in through a set of locks that someone switched. My locks are gone. Finds the door jam is busted. Realizes that the garage doors are padlocked from the inside, so he cuts them, but the garage door (which was brand new) isn't working. Doesn't notice anything missing that he can tell, but I have a bunch of personal stuff and my staging and tools and junk there so he doesn't know. 

I plan on calling the cops tomorrow when I get there, and giving them this guys card. From what i can tell I'm out, a door jam, door locks, some pipe for the drain, possibly a garage door opener or track from my guy trying to get in. Plus a wasted day for my contractor. 

I think the guy was supposed to secure the mobile home behind me and goofed. Got to say I'm a bit freaked. 

Any advice? 

Needed the LLC cause I hope to be out in less than a year. That could change my personal tax status to flipper and cause any future property sale (over a year) to be tax at the full tax rate not the lower capitol gain tax rate.

"If one of you (your or your wife) can qualify for the new loan solely, you can transfer from the LLCjust to one of you if you are in a community property state. No reason to saddle both of your available credit and loan limits if not necessary. My wife and I are rarely both on title where debt is involved."

Yes, that's what we do.  Keep the debt seperate. My job is only the property rentals. She has a traditional job with the heath insurance. All credit card usage is on my cards. So her credit is great and she can show the income. Banks like her. I have great credit but banks don't like my rental income as sole income. 

Bought a single family home for a flip $271000 cash last November. Planned on being in it less than a year so I put it into a LLC (that I started in 2015) for tax purposes. The LLC only holds the house. House is worth conservatively >$300000. I wanted to take out a Mortgage/home equity loan for $80000 to pay off (plus shift to tax deductible interest) some loans and credit cards we used to purchase the property, and also have $ to redo the roof, paint the outside and Kitchen remodel.

My wife went to Wells Fargo for the loan and they said because the LLC has no credit history they can't do the loan. We were looking to use her credit/job but the house equity. We currently live in the house till it sells.

Looking for advice the options?