All Forum Posts by: Michael Mullins

When ever I do a refi, I make sure I have a binder of all the items I've purchased, and labor costs inside that binder. It's also helpful to have a cost break down and a nice little total amount spent on the full rehab or any maintenance / repairs I did to the house. Also make sure you give the appraiser lots of person space when they are doing there job. But at the end make some small talk with them. And then at the end just say I HAPPEN TO HAVE A COPY of all the repairs I've made, and had it over to them. Ask them WOULD YOU LIKE A COPY OF IT, it might help. People will most likely accept what ever you hand them. 

It's amazing that those appraisers always come in on the high amount I need for refi to work and for me to get as much out of the property as I can. Every dollar amount of that 75%, is needed to pay back the money you spent. 

Remember be kind, make there jobs as easy as you can. 

Hopes this helps.

@Jane A.

I found Corp bank in Austin tx. The guys name is Tom. Let me know if you want his number.

I know this is a year old post, but does anyone have any banks that they have refi'ed your rental on. I'm looking to refi a rental that I don't have a loan on. 

@Adrian Fajardo

In Brian Adams team I use Steve Creeche great agent. We are in the process of closing a sub 2 deal in Killeen.

Feel to reach out if you need anything.

So Greg, 

Did you ever end up pulling the trigger and using REIVault? I'm in the processing of wanting to try them out. Love to know what you think if them. If you did use them.

Correct on that point I’m working to get it cleared up, and then I’ll look into purchasing the contract if it makes since. Thank you everyone for your help. 

@Wayne BrooksThat is the strange part it states that the lease option is good for 9.33 years. But it looks like she is on a month to month rental. Why would they set it up that way.

I'm thinking that I need a good lawyer to make sure I'm not doing anything incorrect. Does anyone have a lawyer to double check this?

 Is there any time limits on that lease option contract  set by the state of Texas?  I thought I remember reading something about six months?

Seller is holding the line that she didn’t sign anything. Title company states title is clear with nothing of the lease option. So renter is a  forger in the liar. Seller stated she is selling because she can’t get the renter to pay on time. 

Hello Bigger Pockets,

Don't you love the game when you need to find out who is lying to you. 

So I'm in title for a house worth 60k with no loan on it, purchasing for cash for 28k, and I'm hoping to turn it around and sell it to the renter for owner finance. However, renter just sent me a signed lease option back in 2015 with renter and the owners name on it. And the renter is stating that I can buy the property but have to go by the lease option, the seller of the property is stating she didn't sign anything. 

LOL don't you love real estate. I sent the lease option contract over to the title company for them to take a look at it. But what do think I need to do to protect myself here. This is my first time walking into something like this. 

Renter is stating that she only owes 29k left on the loan. So I can't buy the house for 28 that doesn't make sense. 

Any help on the matter would be great.

Thank you,

Michael