All Forum Posts by: Noam Ofan

Thank you, @Thomas S.

Hey, @Jeff Keller. You are right that I might lose my leverage, and I definitely should find out with S8 admin whether they will still back me up if the tenant misses payments. 

Last thing the tenant wants is risk losing the voucher. They pay $200/month for a $1300 house.

Cheaper settling with me than loosing that government support...

@Christopher Brainard, Thanks for your input. 

Hey BP members.

I had a section 8 tenant who did a lot of damage to my rental in Las Vegas.

After complaining about the tenant to Section 8, they promised me that if I were to get a judgement against the tenant then they will tell the tenant to either pay me or loose the voucher. 

Finally after many months I got the judgement and the tenant contacted me wanting to pay. However, the tenant says they can only pay me $100 a month, while the total judgement is $5000. 

I know I'm probably going to have to reach some sort of a settlement with the tenant because I'm sure they can't com up with the total amount. Questions:

• How do I go about documenting this? Is there a website you know of, where I can find a blank settlement agreement that I can use?
• Say I did settle some sort of installment deal with the tenant, and the tenant starts missing payments, how difficult is it going to be to collect again? I suppose I can complain to Section 8 again if that happens

Attorneys - feel free to contact me

Non-lawyers and non-attorneys - feel free to give me legal advise and I won't hold you responsible for anything... :)

Thank you!

Hey, @Idan Avivi

I don't know these companies, but I know others I can recommend.

Private Message me.

Thank you, @Cameron Tope :)

Hey, @Cameron Tope. Can you please share the contact info of the lender you said would refi 80% ARV with no seasoning period?

Thank you!

@Monti Harris

I was wondering if you could elaborate on the terms you were offered.

- Will they do a 30 year fixed for an LLC and if so what interest rates do they offer someone with above 760 Fico?

- What LTV do they offer? (how much down would you need to put...)

Thank you very much!

Pics?

@Joe Villeneuve - Can you please refer me to the lenders you work with? The one who lends the Equity Loan right after the purchase and rehab, and the lender that you do the cash-refi after the seasoning period.

Thank you!