All Forum Posts by: Melissa Gittens

WOW! @Sammy Lyon this is excited news I would be interested to know exactly how you were able to purchase properties with no money in the deal...

@Rebecca McDonald   

Best advice would be to work on obtaining a new job or source of income. You can also try hard/private money, but you would still need to have a source of income coming in.

What was your experience investing in your retirement plan? Also Can you give some advice on this scenario?.... 

So this issue came up for one of my real estate clients and we were trying to come up with some creative ways to work through this(if possible). They make six figures but have one credit account that has a high revolving balance, which they pay consistently (no late fees or etc.) the lender they are using to close a single family home is asking that they show additional assets that could be liquidated to take care of the full balance of the credit account. They have a substantial retirement plan and showed the retirement plan as a liquid asset. From a lenders perspective, would this be sufficient enough? 

I believe this is one of the contingencies of the mortgage.. Any advice or ideas would be greatly appreciated..

Biggest issue at the moment is finding funding for the majority of my buy and hold projects. I am currently reviewing my processes on how to effectively use hard money and refinance out of it. If any one has an success stories they would like to share with me I am willing to learn and be a part. Thanks

I am considering investing out of state and want to hear from other investors who are currently purchasing turn key properties. What was your experience and what are some of the pros and cons to purchasing a turn key property? 

@Einat Menashe 

Welcome to Bp!

@Justin Reyes although I have not purchased a city owned property yet, I am assuming it be like any other purchase. You just really have to do your due diligence and communicate with the town before purchasing to see what the required time frame is for the repairs to be completed in. 

Wow congratulations on your first property. This one seems like it will be a home run! Can you tell us more about the Laundry Room you will be adding next year and how this will add value to the property and is a way for you to capitalize on additional income?

@Gary Guidi

Has anyone ever used Zillow Rental Applications fr their potential renters? If so, what was your experience and would you recommend a different website that potential applicants can use to run their credit/background check?

I have never used Cozy this can probably happen with any system that takes electronic payments... I would have charged the tenant a late/or bounced check fee since I am assuming your bank may charge you as well for the fraudulent transaction.