All Forum Posts by: Patrick Ng

Hi y’all, filed suit with an attorney. Served the folks last week. Hopefully this helps move them out! More to come. 

Yes, they broke in.

Thanks for the input everyone!

The prior owner is likely doing all this deliberately. He had the property foreclosed on him several years ago. I am not sure of the "tenants" are in on this as well, but they had told us their lawyer stated to that they can stay because possession s 9/10ths of the law. We did reach out to the prior owner and it does seem this is a deliberate act. 

We had recently been rehabbed and put on the market a single family home. When a scheduled showing was taking place, we found people had moved in and claimed they have a lease that was signed with an individual who had owned the home in 2016, who is claiming title. Title company confirmed we have clear title to the home and this was conveyed to the individual claiming they own the home.

Despite this, we found that the "tenant" there signed a lease with the prior owner who claimed they have ownership of the home. Law enforcement said this is a civil matter and cannot ask them to leave as it is not considered trespassing. Does anyone have experience with some thing like this? Any insight and advice would be great. Goal is to try and have these individuals who are living there under the fake lease vacate the home, and protect against the old owner from 2016 from continuing to disrupt operations/ continue claiming ownership to home. 

Thanks!

@Billy Zhao

I am a local SA investor, focusing on areas in the northeast part of town, sandwiched between Randolph AFB and Fort Sam Houston, and easy access to I-35 to New Braunfels/Austin. 

In my opinion the NE area is great of BRRRR properties, good rental base, and areas with older homes that allow for that forced equity.

Agree with @Melissa McRay Johnson regarding Seguin!

Best of luck entering the SA market, let me know if I can help in any way. 

@Bjorn Ahlblad@Ryan Denman  Thank you for your replies, got the place listed on the sites and rented!

Can you list on Cozy and Zillow rental manager at the same time?

My listing got removed from Zillow and as I was digging there were some comments that stated that if the sites aren’t affiliated there’s a chance that they will take the listing down.

thanks!

Hi all, 

Are you required to stay in a home for x amount of time and or are there any drawbacks to paying off a mortgage for a primary residence after a few months?

I financed a home with a primary home product, 30 year fixed, and originally planned to have it as a live in BRRRR over the year. However the rehab has gone faster than I planned, and after a few months, I am exploring the option of turning this home into a rental and moving into the next live in BRRRR/flip. Since I have this home financed as a primary home, I can't move out before a year correct?

Unless:

1) I pay off the loan, and if that is the case, is there any issue with doing that within 6 months?

2) Refinance, which I cannot do until the seasoning period is over

Anyone been through this before? Thanks. 

@CJ M. thank you for the reply!

@Rothy Soun

@Cameron Tope

@Stephanie P.

Thanks for the replies! I anticipate keeping the cash now would allow me to make a stronger, cash offer in the next deal sooner rather than having to wait to refinance out of this current one if close on it cash. 

I just am thinking in the longer run, that if I finance after I repair this one that I’ll be able to pull more out and have a larger position to offer on the next one, and perhaps get a bigger deal.

Trying to weigh if that would be more advantageous, or if being able to move faster on a similar deal at the same price but sooner would be more advantageous. 

Thanks for all your input! 

Patrick