All Forum Posts by: Kristina Dodson Dupree

I am currently using Rentalutions as a method to collect payments on a rental property- I see it is taking at least FIVE days for the payments to actually clear etc. Anyone know of any other software/websites that will collect payments sooner. ACH debits/ recurring monthly payments etc.

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Originally posted by @Casity Kao:

@Kristina Dodson Dupree I think what Shawn Ackerman said is correct that a cosigner is probably your best option for financing but I personally always tell my clients never to cosign unless you are fine with being stuck with paying the mortgage yourself or are fine with having a large payment on your credit for 30 years. I can't tell you how often I have clients that tell me they didn't realize cosigning on a loan would cause all of the debt to count against their debt to income and it affects their ability to get loans in the future. I would really make sure you consider the compensation they get for cosigning. You will still have to do a portfolio loan as many banks underwrite to the lower of the two credits, but cosigning for someone is not a small favor, it's a huge favor and a much bigger commitment than people often realize.

Thanks. You guys have really been a great help!

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Originally posted by @Shawn Ackerman:

@Kristina Dodson Dupree Find someone you trust and ask them if they will co-sign the mortgage for you. You need a solid credit partner.....Give he/she a little cash for helping you out of this jam. Or wholetail it in it's current condition if there is room for you to make a profit. All the best to you.

Looks like that may be my next/only option here. Thanks for that!

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It would be best if I could buy the guy I got it from out.

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Originally posted by @Casity Kao:

@Kristina Dodson Dupree Going to be hard to get conventional financing, so it's going to have to be a private lender. I normally would not say this but if you have alot of equity you may want to consider selling the property to use the funds to bump your credit up and buy more real estate or possibly do it via an installment sale with a large down payment to get a cash infusion to payoff the loans and cards. How did you get the property in the first place with credit score in the mid 500s?

I got the house via owner financing. My scores were nearly 700 at that time. I have been late for the loan payments but not the mortgage payments.

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Hello,

I really need to refinance a property- currently paying the mortgage and loans/cards that I used to rehab it. However, my credit score is low (mid 500s-because of this) and I am out of money. Refinancing it would really get me back on top of things financially since there is a tenant in there etc. Any suggestions?

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I currently have a property. The funds are going into my personal account. I really need a banking account but don't know who to bank with and what to look for as far as business banking!

What are some of the things you like about your bank?

What are some things you think could be better?

Thanks in advance!

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Hi biggerpockets members!

Do you guys have any suggestions for a service that allows prosective tenants to complete a rental application, performs tenant screenings, and collects the rent payment? Of course I'll do my own research but what are the pros and cons of the service you use?

Thanks in advance!

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Hey investors,

I'm hoping to sell a property very soon. I was wondering when it comes to closing costs for the seller can they be taken out of the profits of the sale or does the seller have to bring a check to closing and pay costs upfront?

Thanks in advance!

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I'm rehabbing a home and running short on funds. Does anybody know a place in central Arkansas that will provide a small loan (maybe $1000) as quickly as possible?

Thanks

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All Forum Posts by: Kristina Dodson Dupree

Kristina Dodson Dupree has started 12 posts and replied 19 times.

Post: Rental Collections Software

Post: Refinancing a Property

Post: Refinancing a Property

Post: Refinancing a Property

Post: Refinancing a Property

Post: Refinancing a Property

Post: Business Banking Options

Post: Rental Apps & Tenant Screening

Post: Closing on a Property

Post: Small Rehab Loan for SFR