All Forum Posts by: Karen Sanderson

@Salvatore Lentini right now...money. im not a 1st time home owner, am under contract to sell that home now...will use that money to pay off debt so I dont have a down-payment. Make too much for fha...usda...

I'd like to potentially house hack or have a multi family rental but the down payment is an obstacle right now.

Perhaps I should just save hard for a year

Hi all, I am continuing to search the site, but thought I would throw my question out. I'm in Jacksonville FL and am seeing several small houses that I am considering for rentals. What are the odds of obtaining a loan for … say 2 properties at less/equal to 100K? I just moved to the area but wanted to put some rentals under my belt. Any info or direction is appreciated. Karen

After a couple of months of discussion, we have decided to sell one of the rental properties. Lease is up in NOV. Notified the tenant that we would go to a month to month but are putting the house on the market now. Once the property is under contract, settlement would be set for 45 days and would serve as their 30 day notice to vacate. 

Go over to take pics (after i advised them we are coming and to please pick up a bit).... well... wife is crying... we are doing her dirty... she thought she could stay for at least 3 years... "this is my home"... "where is my family supposed to go"... boo hoo hoo.... House was NOT picked up... but we got the best pics we could and used some from when we renovated. 

I have lots of reasons I could evict them if I wanted to... dog that is not on the lease... at least 3 people not on the lease, rent paid late every month but one... 

All the while we are taking pics she is crying... son tells her .. Mom its not your house... its theirs and they don't give a f#@$%k about you. I explained that we would be showing the property.. and she is concerned that "all my stuff" will be online in the pics (nothing in that house over 500 dollars...I explained that the tenants generally are not home when showings occur and we would give her notice prior to a scheduled showing... "What do you mean people will be coming in my house when im not here??"

Boy this is going to be fun. First showing... she was there... no feedback bout whether or not she acted the fool or not or what kind of condition the house was in. I may need to have them leave before we put back on the market. 

I get a text from wife ... why am I putting empty boxes on her porch... she is really upset.. why would i do that... I reassured her that I did not place empty boxes on the porch and to ask her kids.

Now LATE rent is being picked up by me tomorrow (due date was OCT 11). She wants a copy of the lease. I asked her if she lost hers? and if she has a specific question... no response... 

Lord help me... cant wait to sell this one. 

The water utility is in their name. I waited because i keep getting the story that... I'll pay it next payday ... etc. 

I think it is time to write a nasty gram.

Thanks

Hi all, per the rental lease, tenant is responsible for all utilities except trash. I receive a courtesy copy of the water bill each month. The renters have NOT paid a water bill since they have moved in (9 months ago). I have mentioned it 2x and was told ... yes will will catch it up... waiting for refund, new job , etc. Well now the bill is almost $500 and I would like to send a certified letter to the tenants. I, of course, will reference the rental agreement. Anyone have any language I can add? I would prefer that we not start eviction proceedings... however, I will go that route if necessary. 

I would imagine the water company will look to me to pay it if they move out and do not do so.

Any advise? 

Thanks , 

Karen

in renting or getting ready to rent....what is the going trend? all rooms painted the same color or different colors?? 

Thanks

K

I continue to see pop up periodic topics regarding using CC's to pay for home purchases (yes I know... not a great idea). However, that being said.... My CC's will only cash advance like 1-2K... How on earth are folks buying properties using credit cards? 

Just curious

Karen

congratulations....nice job

I tried to get an ELOC with my investment property thru Wells Fargo as my local banks only do them on primary properties. with a 711 FICO and tax assessment of almost 41,000, I was turned down. Their rationale... FICO was too low and not enough equity in the house. (I own the house free and clear) VERY frustrating. 

Am now trying to determine next steps... Good luck

Karen

Welcome to BP from Enola