All Forum Posts by: Isaac T.

I'm a small time landlord and failed the City Inspection, then my rental license expired.  Repairs made but delayed re-inspection and received a Citation by the city.  I've had the property re-inspected and passed, but it was too late so now I received a Notice of Arraignment/Appear in Court, so I must show up 

I'm still waiting for a copy of the renewal Rental License, but have emails confirming the re-inspection passed and renewal is in progress, expect a 2 - 3 week administrative process for the license.

Anyone experience with this issue and what to expect?  How much will it cost me??   =(

This is Washington County court, just south of St Paul.

Thanks in advance.

I have not bought from Smartland or Rob the House Guy.  When I investigated "TURNKEY" products, i.e. property, rehab quality, tenants, credit, etc. they seem night and day different which might explain the prices.  It's not a free lunch, you get what you pay for and it could be true that the tenants may destroy the property in 1 - 2 years.  

Just my 2 cents.

Check with other lenders if it's time sensitive, otherwise if they are offering low cost refi and good rates, then wait.  Some of the more investor friendly lenders will come along, I see Turnkey providers offering 6 month cash out refi.  Expect to see potentially higher expenses and/or rates tho.  YMMV

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Hey Guido - Talk to a lender that is focused at investors to see your best options.  I think it's a matter of personal need.  There are HELOCs, Refi's, etc.  Each have a cost and benefit.  Be sure to explore the difference when you occupy the property and when it's rented out.  I, personally found it better to refinance the property while living in it.  My credit union ran a promo for a no cost closing and competitive interest rates, so I refinanced.  Good luck.

I think it all depends what your goal(s) is for the future.  Does the property cash flow?  How does the appreciation look?  What is your lead time to be in the market?  Do you have the time and expertise to address all the various issues?

For me each of those questions carry different weight.  Each benefit has a cost (time vs. money) and each benefit could have a value.

I'm currently thinking about some turnkeys and have not pulled the trigger.  Comparing Turnkey (hands off) vs. Note Fund investing (hands off) with a defined timeframe.