All Forum Posts by: J Torres

@Bill B. Thanks Bill! 

@Bill B. a little off topic but would you mind sharing who you used for your AC replacement assuming it was in Vegas? I have 2 I need to replace in a new duplex out there. 

@Steven Aguirre Hi Steven, it's been a busy couple of months. Still trying to acquire the plot of land from the seller but am hopeful in the current state of things that they will finally be willing to sell. I'm contemplating my hand in development starting next year so that should be fun. 

@Marc Winter 

Thank you. This is what I was thinking. Tenant arrives in a little over an hr so we’ll see how it goes. 

@Jon Reed

The purpose of them signing the letter before entry stating they have a certain amount of time to collect any belongings and anything left will be considered abandoned would be to be able to trash anything left. This would get rid of the 30 day holding requirement.  I have no problem trashing it all as I have to clean the home anyway it’s the storage costs and effort involved in that I’m trying to bypass. 

Hello Everyone,

So I have a tenant that was evicted and locked out by the constable (Las Vegas) this Monday. Rather than having to spend money on taking all of their items to storage, paying storage fees for 30 days, itemizing etc... I am planning on giving them access tomorrow to retrieve their items. My plan was to give them a time window from 3pm to say 7pm to do this. With that said, has anyone done this and or made the tenant then sign a letter stating that they agree to the time window and any items left past 7pm or left at the property will be considered abandoned?  

My concern is the tenant later saying they didn't get all of their items or that they were not given proper access. Thoughts??

Just updating for anyone else that may encounter this. Instructions came from title and put the mortgage company as 1st, then the owner 2nd. Speak with your title company and they'll have the instructions for your insurance company. Finally closing this deal tomorrow, wahoo!

@Account Closed Thanks, I'll give that a try. I'm wonder if the original owner will be able to cancel her policy once I get mine placed on the home. Definitely uncharted waters for me.

Hi Everyone,

Alright so I'm in the middle of my first "seller carry" deal, there is a property that the seller is can no longer afford the payments to and have negotiated the following with the seller. They will allow me to take title and have setup a wrap with title where they will service the current loan. So basically the loan is not assumable and I'd rather not go conventional on a loan since I'd have to do 25% down for the investment property loan so my plan is to let appreciation do it's thing and then finance it conventionally at that time. Title has a loan servicing option so the idea is that I get title and make payments to them every month which would go to the loan company making sure the PITI is paid every month.

My question is, how does one go about getting home owners insurance on this. I'd assume it would be the same process as usually by calling my insurance company but my thoughts are wouldn't a change in insurance and name of the person insured be a red flag for the loan company and possibly call the loan due? Not sure what everyone else does when they do something like this, any thoughts?