All Forum Posts by: Jeremy Sanderson

Thank you @Andrew Postelle and @Jaysen Medhurst. I think my takeaway from this is to go ahead and open the new HELOC and wait for income to start coming in from the note before going after the next purchase to help with the DTI.

Hello BP.  

Would having a second HELOC on a rental property in order to BRRR another property have an effect on my credit score? My specific situation is one where I just tapped about 80% of the HELOC on our primary residence for a note purchase (currently not performing). I have a rental house in a small portfolio which has no debt. It would be great to tap into that equity, but I don't want to appear overextended when I'd go to refinance the new house. Any thoughts?

Hi Trent I can pm you a couplehandyman contacts. Not sure how busy they are or how much managing they would need

I'll be there.  Looking forward to meeting everybody.

I use Main St Management out of Puyallup to do lease ups for me  and then I manage myself.  Aaron Gerry is a full time agent/broker and he has a couple of people working in his office for him.  So far the renters he has placed for me have worked out great.  

Thanks guys.  Funny thing - there was a payment posted today.  Maybe I'll try to get ahold of Brad anyway and see what he can tell me about the foreclosure process just in case things don't get back on track...

Hello Bigger Pockets members,

I need to reach out to those of you who have experience with foreclosing on a tennant who is in a property under a land contract.  They paid a $1500 deposit and were making payments on a 20 yr term.  Things went well for about a year, then they went two months late, made a payment, and now are two months late again.  This is in Pennsylvania, just outside Pittsburgh.  I'm not in the area myself, but have became a long distance landlord.  What should I expect as far as a timeline to get them out of the house and attorney fees?  I've come to understand this is a longer process than an eviction.  Does anyone have an any attorney recommendations for this in the Pittsburgh or New Castle areas?

Thanks for your help

Thanks for the responses.  Doesn't sound nearly as straightforward as I'd hoped - unless it went to him in the divorce.  I've found the woman on facebook and reached out to her, but never got a reply.  I can't find anything but old disconnected numbers for her phone # in online searches.

Is there a way to get a property sold (to me) if the seller's ex-wife will have nothing to do with him or the deal?  The backstory here is pretty bizzare:  The neighboring property to one of my rental houses has some fire damage and has sat vacant for about 6 years.  I found the owner on facebook and hit him up to sell me the place. He was all on board.  He said he has an insurance check that he could cash and catch up his payments to the bank if his wife was to endorse it.  He stopped paying the bank after the fire/ break up from wife, but the bank never foreclosed on him (as they probably don't want a burned house).  I tried contacting the ex-wife and can't get a reply from her.  So is there any way to get the deal done - or does she have to sign off on the check as well as for title transfer? Thanks for any advice.

Thanks guys. If credit checks out good i could get 4% and be able to lock. My plan is to use it for purchases and rehab, then refi.