All Forum Posts by: Margaret Weyandt

@Mike V. I am just now considering adding VRBO to my rental options.  I am currently only on ABnB.  How would I go about integrating with VRBO and choosing my own payment processor?

Varun,

I am also in the Altoona area and know that margins are thin for our area.  I haven't completed a true fix and flip yet but I have been looking for one.  I am interested to know if you completed the sale and rehab on the house you mentioned.  How did you obtain the funds for repairs?  I work with a local bank here that lends the purchase price and rehab costs.  I would like to hear your story on this house.  Thanks.

Thanks, John, we have consulted with an attorney now.  I was hoping there was a way to do it without additional costs and without me getting stuck with the mess.  But such is life I guess.

Thanks, Mark, I think that is what we are going to have to do.  I didn't want the issue of having to sell it.  It is Christmas time and she is leaving next week and won't be back.  Here it is hard to sell property at this time.  That leaves me having to pay the lot rent, utilities, etc. until it is sold. 

Bill G, I can't just forgive the note when I took out a personal loan in order for him to purchase this. I think we will have to get the Specific POA or have her just sign it over and then sell it. Thanks for all the information. I truly appreciate it.

We certainly have learned from this.  I have instructed my other children to be sure our name is on all property (real estate, cars, etc) so if something happens, it will be so much easier to deal with until they are married.  This year we will also be having them create a will even if we have to pay for it.  We have ours but never thought about the kids needing one.  Big mistake!

Thanks to everyone for your input and advice.

Josh McCullough:  No, she does not want to stay and pay it off.  She wants to move to her home state. 

Rachel:  Thanks for the input.  She said she would be willing to sign it over to us.  I just wasn't sure if that was the best option.  We really don't want to deal with selling the trailer. It is in a trailer park so we will have to pay rent and utilities until it is sold.   But I guess that is what we will have to do.

I need some advice from someone more experienced than myself.  I helped my son and his girlfriend purchase a mobile home.  He wanted her name on the title so I was listed as a lienholder.  We created a contract to spell out payments, interest, etc.  Everything was fine until my son died this summer.  Now, she gets the trailer and I get the loan. We could have claimed the loan as due and payable but she did not have the money nor a way to get it and wanted to make payments. But, she now is moving back to her home state. I know that my son's life insurance through work went to her but I don't know how much. She wants to 'work something out with the trailer'.  I am not sure what options I have as a lienholder.  Can anyone help?