All Forum Posts by: Craishia Millines

Hello BP family,

We filed for eviction court (tenants past due in rent) and the hearing was supposed to be today. However, I received mail two hours before court regarding a notice to reset/possible dismissal with a new court date in May, 2020 due to the tenants filing a chapter 7 Bankruptcy.

The attorneys we are consulting with want to charge 3k plus (at a minimum). This is our first and only rental property and these are our first tenants.

Has anybody ever went through this or can advise any next steps? We went to the courthouse downtown and were told we can file a Motion For Relief of Stay for $181.00, is this the best and only option? Cash for keys? Anything? 

Thanks so much,

Craishia

@Colton This is awesome! Thank you for sharing!

Hi BP fam!

I ran into a seller who just finished the beginning stages of a full rehab and asked if he would be selling in its current state, he ran his numbers and came back with one that works for the both of us. HOWEVER, hard money doesn't work for this deal and the condition is not livable for a bank to finance. *In the respect of time, I do not have a relationship with a bank I could go to in the next day so I have to get creative.*

Long story short - the deal is that my team goes in and adds drywall, cabinets and flooring and then transfer the deed and begin the closing process with a third party (being the bank). My attorney advised not to do this as since the seller is still the owner of the deed & he can transfer it as he pleases or even pass away throughout this and if he has hiers, I am out of luck. SO, my attorney proposed owner financing on the same short term period we previously agreed to in order to make the home livable. 

My question is: How do I present/articulate this to the seller? Any tips?

Thank you so so much!

Definitely down for a  meet up!

@Wendy Guardado, do you have an email list? Thanks! 

Hi! My husband and I (both working) are purchasing our first home but have come across the idea for either of us to purchase it alone, to keep the others debt to income ratio at almost zero (we both have very little to no debt).

Is this a good idea? Looking down the road onto our next property and do not want to come to the problem that we are unable to get bank financing. I may be overthinking this because either way, one of us will have a high debt to income and the other may not qualify for a high payment.

Thoughts?

Thanks so much!

Craishia 

Hi, all! My family is relocating to Houston and I’m seeking a new corporate position in the real estate field to buffer my knowledge while going into my own investments - whether it is lending, underwriting, title management, etc. Does anybody have any leads in the area? We’ll reside near Katy but I am willing to make a drive.

Thanks so much!