All Forum Posts by: Pat Lione

Thanks for the offer! She won't even let us use electricity and I don't have a generator right now. Sec 8 inspector doesn't care. I forgot to mention it in the 30s at night and didn't even hit 50 deg today. I forgot to mention we had this same situation a year and half ago. Same exact situation right down to the time of year and temperatures. Sec 8 doesn't care. They say its our problem and to get it done!

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Hello all,

Dealing with nightmare Sec 8 tenant. We have tenant in a sf in the best neighborhood of the city on a dead end street.

Sec 8 failed huge deck because of peeling paint. Tenant will not allow us in to use water to power wash deck. We have this all documented and recorded. We already painted deck 1 1/2 years ago with same situation. We have proof and documentation. Inspector doesn't care.

We have scraped but the best thing would be to power wash to prepare wood correctly.

We are already abated on this not getting paid!

I need some ideas on best ways to tackle this issue that's cost effective. I don't really want to waste a lot of time and money on this because of circumstances. I know i'm going to have to do it again once we evict tenant?

Looking for suggestions on a good colored stain of some sort that will fill and get this passed.

I really don't like doing things this way. I like to do things correctly. But under these circumstances I just want to get it passed.

Thanks

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Hello all.

I am looking for help on how to word "reason for suing" on my small claims writ.

Last time I wrote unpaid rent, damages, late fees. When I asked magistrate for interest on the $35 a week that I will probably never see. She claimed that I needed to write it in the writ. I don't think this is true but my properties are in CT a very pro tenant state. I would like help with a very detailed reason for suing. Thank You.

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Hello all.

I am looking for help on how to word "reason for suing" on my small claims writ.

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David is your program available in CT?

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Originally posted by @LEON GOUSMAN:

Curious to know who you finally went with. My wife and I are shopping ourselves.

I ended up going with Affinity. I did get some decent quotes from a broker in CT for comparable insurance to my MiddleOak. PM me if you want the info.

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Originally posted by @Mike H.:

I'd agree. Given they're not requiring anything down, what do you really care if the rate is 5 or 6%. You're at such a low price point, I don't think it really makes a difference does it?

On a 50k house, the difference between 6% and 5% on a 15 year loan is like $25/month. I'd pay an extra $25 a month not to have pull 25 or 30% out of my pocket on a deal all day long.

It would be nice to go further out than 3 years. The fear is always whether or not the bank will renew the loan at a later time or not. And 3 years is such a short time period, you just never know if they're going to change their rules and/or stop doing investment loan altogether.

One thing you could do is sit on the house for 3 years and then refi into another bank (portfolio lender) if you can find one. Typically, I'm seeing rates between 4.5 to 5.5% for portfolio loans. Amortized over 20 or 25. 70% to 75% LTV. 5 year balloons.

So 6% for the lower priced loans (mine are typically between 85k to 110k these days) isn't bad.

Maybe if you're willing to put some money down, they can do a little better on the rate or the term. Maybe offer to put down 10% if they go to 5 yr balloon? Or 5.5% interest? Can't hurt to ask.

Please refer the lenders you are using. Thanks

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Originally posted by @Dawn McNary:

Loo for lenders that have products for investors that mimic FHA 203K.. I am finding them here in CT so they must be in other areas as well- same basic terms- but none of the owner occupied

Please refer. Thanks

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Originally posted by @Michael McGovern:

I have a lender that will do 30 year amort, with a 15 year ballon. It's fixed for the first 5 years and no prepays. I can refer you if you would like.

Please Refer. Thanks

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All Forum Posts by: Pat Lione

Pat Lione has started 12 posts and replied 25 times.

Post: Health Insurance for self employed wanted

Post: Need ideas for refinishing deck on rental

Post: Need ideas for refinishing deck on rental

Post: Suing Ex Tenant in Small Claims

Post: Suing ex tenant for unpaid rent

Post: Rental: HML --> Cash out refi?

Post: Looking for Landlord insurance in Connecticut

Post: Funding 30-75k Houses

Post: HomePath Loans

Post: Commercial Loans / ARMHOW TO PREDICT THE FUTURE?