All Forum Posts by: Matthew Tyson

Send 3 day notice certified mail and tape to door. Retain proof of that notice and make sure you include the new tenants right forms required by the city now. If not paid by then, go to courthouse in that precint and iniate an eviction suit. Usually schedules about 14 days or so out. Paperwork isn't that difficult. Go to court, judge will hear them out and then ask; "did you pay the rent." No, ok, rule in your favor. They have 7 days to appeal. If no appeal and they havent moved out, go back to court to get a writ of possession. They will have 48 hours to vacate and if not gone, constables come a knocking. Unfortunantely I have become very familiar with the process. It is very easy and doesn't have to be contentious. just follow the steps.

Fire damage is tricky. City has to inspect if I'm not mistaken to determine if threshold is met to where it is a tear down or rehabable. Permiting will be stricter I imagine. 

Get a personal loan from SOFI for $100k. Finish remodel. Deed to LLC. Get tenant in place. DSCR refi out (maybe put both properties on in one portfolio loan). Pay off personal loan. Do it again. Or talk to a private lender about delayed financing. Then refi out when done.

Strongly suggest. Also makes private lending easier. Keep all those monies moving through one account. If you are doing a BRRRRR with a DSCR rental exit, smooth sailing. If the deal pencils, the underwriting is so much easier. LLC is pass through income so have your bookeeper or CPA take care of everything at the end of the year for your tax documents. Get your insurance in business name, utilities can be put in business name. Build a financial history with your LLC.

I would hope that the BOA meeting would tilt in your favor considering the error on their part. I have sat in a couple of those meetings, they sure say no a lot. Best of luck

Bought one from my wholesaler. Refi'd two recent completed rentals. Still in awe in the amount of "deals" that come my way that have no basis in reality. Watching the strike team go wild slapping stop work orders like crazy. 

I use State Farm. My agent beats all other rates, somehow, I don't ask. And I get to bother him whenever I want. 

If you can weather thin deals right now on the hold side, it will pay off. 

It's slow out there for a lot of trades in SA right now and I'm not one to gatekeep. I've been through the gammit of good and bad trades. If anyone out there is looking for trusted trades in HVAC, Electrical, Roofing, Foundatio, Framing, Painting, Drywall, Cleaners, Junk Removal, etc., let me know. More than willing to share my contacts to keep them busy. Buyer beware of course but these are folks I routinely use and trust. DM me if interested. 

I'm not a GC, but have rehabbed several BRRRR and Flip properties in SA. If you need any pointers feel free to reach out.