All Forum Posts by: Kelly DeWinter

The arrest is public record, I would say no. The fact that the police were called, they had probable cause to arrest, in all likelihood the property where he was arrested may have been damaged as well. It's not worth the risk.

Credit and Background checks are where to help landlords reduce risk to the property. Ify you are not going to use the tools you have , what's the point ?

If an FHA inspector requires a fix, its required, you cannot close until the works complete.

Funding first with some sort of pre-qual letter.

No, FHA guidelines require owner occupant. Since you are new find 2-3 mortgage lenders and have them bring you up to speed on loans and loan requirements. Since the seller is willing to finance, negotiate favorable terms . It doesn't hurt to ask although moste OF properties look for 15 to 20 percent down

No,

jk,
. Call a realtor find out what 3/3 units sell for in the area you are lookin.
. Call a mortgage broker , see if you prequal for a mortgage
. Review finances with broker to see if you have enough for down payment,  escrow, inspections, and cash reserves

Then
. run the numbers for the properties you are interested in.

Right now without any other numbers I see you light of cash .

If you have a lease you cannot be 'kicked out' , However they have the option not to renew your lease

Friendly evictions can be an issue if you sell the tenants things. Basically you performed and eviction without going through the legal system. In some states you can be sued for an unlawful eviction.  Call him and pay a trash hauler to move his stuff to his new location. Next time evict through the courts.

Haven't tried it, but this looks interesting.

https://www.youtube.com/watch?v=tcK8Ey1NdKs

@Timothy Smith
Time Management is about priorities, I learned a long time ago to :
. Make family commitments #1
. Rank all items that need to be done each day A,B,C,D
. Make a list of the top 10 A items for each day and work o those in order.
. Decide if B items will make me money and move them to A
. Decide if I can delegate C items to Business Partners (Realtors,title,lawyer,contractors,etc), and do it 
. Delete D items every day
. Limit my education (Books,podcasts) to 1 hour a day at the same time every day.
. Create a 1 sheet 1/2 hour increment day timmer plan and plan out phone calls and emails 2 times a day, no more than 3 hours total.

@Account Closed

Have you paid any funds to the flipper ? If so what percentage of the total amount ?

. A copy of the receipt for the registered letter.

Then make it clear and it should be part of your contract that you will only release funds at major steps during the rehab.