All Forum Posts by: Jon A.

@Josh Ramras how did your eviction search go? 

@Melvin List Thank you, I’ll start looking them up!

Hello, I’m looking to do my first cash out refinance. Are there any recommendations from y’all or past experiences with people/institutions To work with or avoid?

Thanks!

Hello all, I met up with a prospective tenant to sign lease documents on 9/10 told them to sign up for Cozy to pay the security deposit by 9/13. They didn't bring a security deposit to sign because they wanted to pay online, since I use Cozy, I said okay.

9/13 passes up and no account creation or security deposit has been attempted to be deposited. So I let them know via text on 9/14 that the security deposit would have to be paid via money order to continue with the rental process. Since I got no response I've relisted the unit and have a few appointments set up for viewing.

I had no response until today 9/16... They left a VM acknowledging they didn’t pay and would now like to pay via money order. What would you all do? Keep up with them and hope they pay rent on time or cut my losses and find a new prospect?

@Todd Ortscheid how would you consider the Forest Park area and how do you go about finding tenants?

I ask because I've been struggling to find some myself. 

Sorry to hijack the thread

I'm interested in trying this out with Assurant being that they have a program called SureDeposit...

Has anyone here used this service?

@Jon A. Sorry for the horrible formatting I'm using my phone.

Hey there, I’m working on getting my first deal going and will be going the private money (uncle) route for buy and rehab. Purchase price 95k and 20k in rehab. But I'm curious to know: 1) When purchasing will the property go under my name or the private money lender (uncle)? 2) It's a duplex so I plan on house hacking would that be any issue? 3) How do I refinance the duplex to pay the private money lender? 4) Would a lawyer be the best option to write this contract up? Sorry for all the dumb questions but I attempted to do this via 203k and the General Contractors are what I feel charging exorbitant amounts. So my uncle is giving me a hand.

Looking for opinions on how to proceed with possible options available to me at the moment. Option 1: Duplex with one tenant long term lease, I would OO (owner occupy) the other. So it's bringing in money from the get go and provides a house hack. Option 2: Quadraplex that needs complete rehab, going 203K route to get the place back in working order. What would make more sense to you start making money from day one with the "safe" duplex option. Or hold out a few months to rehab, find good tenants while OO and triple what the duplex would bring in? Thanks!

Mitch Messer thanks for reaching out I'm looking for both ITP and OTP and the time frame would be ASAP. I started looking for a SFR and changed my mind to a Multi after researching the mechanics of a 203K. I'd like to have a few general contractors lined up before making offer, but I'm finding it difficult to find a willing GC. Would you happen to know of any?