All Forum Posts by: Obed Bermudez

@Nelly R. That’s awesome that you got financing for that amount! You say PNC bank helped you out? That’s great.

@Howard Pritchett Hey Howard, first off it’s good to see someone not too far from where I’m at. My friend Patrick does great with rehab loans whether it’s a streamline loan or not. This guy bends over backwards for his clients. He’ll answer his phone late at night, over the weekends and all. He’ll look at loans from every angle possible to get a deal done. Please message me for his info

@Nelly R. Unfortunately i don’t know any banks that would lend that amount. I would try to maybe up the amount being financed with a rehab loan to atleast reach the minimum.

@Andrew Postell Can investors usually refi out immediately after rehab or is their a time frame after the rehab that banks would like to see before refinancing? I ask because I believe I read on a post that banks usually don’t refi immediately after the completion of a project.

The lease may not say anything about tenants paying for locks but......their should be some type of language within the lease that may define that action as breaking the lease; such as "destroying the property."

I'm not saying to go ahead and evict but you can possibly use that "language" (if it exists) to scare the tenants into not doing it anymore. If it continues get them out. 

All in all...it's the landlords responsibility.

Honestly,  I don't think their is anything that can be done.  Title insurance wouldn't cover that mishap.  Double check but I doubt it. 

Quick question...Did the buyer put down a good faith deposit? I'm going to assume he obviously did...maybe a $1,000 or more?  So if he did walk away he would be losing the deposit, whatever fees and inspections he already paid plus the property itself. 

Definitely, it would've been better to negotiate something, with the seller, than to walk away.

I would look at the glass half full instead of half empty.  He would be losing more financially by walking away than to just pay the $1,000.

Again, definitely the title company's fault by not relaying the message but that is what the agent is for?  Agent is the one that must be sure all parties are in good communication and information is as accurate as can be. 

@Todd Powell I would definitely ask for evidence for this therapy animal. If they do have proof then I would have the tenant seek insurance for the pet just in case damage is done to the property.

@Tirzo Quintero It’s illegal. I’ve put in plenty of low offers before for buyers. It is what it is. I understand the agent but he should not treat you as such. ALL offers must be presented. What part of Jersey if you don’t mind me asking?

@Cherie Orellana thank you for the reply. Appreciate it much.

@Cherie Orellana will a 203k loan “reno” a whole duplex or just the one sode the owner occupant will be living in?