Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Kevita L.

Kevita L. has started 2 posts and replied 9 times.

Asking for a family member.

Family member has a two family house and the top floor are used to rent out four rooms(4 Rooms). Out of the four rooms one paid, the other paid late, one paid partial( unemployed before the COVID crisis) and one that said he was going to pay since last week. House is located in Brooklyn,NY.

The partial renter has always been known to be a late payer and has been struggling for a long time to pay rent. He recently told the landlord that he has been out of work for a month but in reality he has been out of work since Oct 2019. He gave the landlord $300 out of $900 rent. He advised the land lord to take the money out of his security deposit. I recommend the land lord to have everything in print from a legal standpoint.

None paying renter. Has always payed late as well. He is part of the Gig economy, a Photographer. Been there the longest. Payed his rent 60 percent on time. Agreed to pay for his rent but has not paid and has been avoiding the land lord. Says he isn't home but instead is always home.

I understand that Covid has put many people on the hot seat. Unemployment has taken a major dip. The home owner still has to pay their mortgage and keep the light, water and other utilities on.

This month is understandable but what about the following Months?

How are land lords dealing with none paying Tenants?

How will you deal if you have to evict tenants that's using this as a way to get over and save their money?

Any information would be great.

Hi all,

I'm not sure if this is the forum to ask this question but I'll proceed.

I was contacted by a friend of mine who wanted to include me on a 20% return on a cash quick loan done thru a promissory note. So this is what I was told.

The investor is a real estate investor who does flips in New York and acquire 80-90 % hard money from a lender and funds the rest of their projects thru short quick loans in cash from a group of people. The money will be returned in 15 business days and will be 20% in interest if all of the required funds were given.

Ex. Need $176,000 in 2 days, if group acquire all of the funds they will receive 20% in interest of the money loaned.

Payout scenarios

Payout is given once they take ownership of the property and money is then taken from the renovation to pay back to them.

The property can be sold to a wholesaler.

I see a lot of red flags and I declined but want to hear what BP though. I've never heard of the investor and nothing comes up thru my search. Looking for to your response.

They will pull equity from the property thru refinance from the bank.

Post: New Wholesaler Networking

Kevita L.Posted
  • Posts 9
  • Votes 1

The information on BP has been very informative and like others have mentioned it's a great platform

I was invited to watch a video about Jerry Norton offers thru a link from Mr. Morris and I wasn't impress and happy I did my due diligence thru bigger pockets and others should do the same before moving forward. Thanks bigger pockets. 

Post: New Wholesaler Networking

Kevita L.Posted
  • Posts 9
  • Votes 1

Welcome to BP

@Jon Boujoir

No I haven't

@Jon Boujoir

Welcome to the forum. I'm also a newbie and your in the right place, BP has a lot of information and help.

@Casey Roloff

Great job!