All Forum Posts by: Ramon Moreno

@Wayne Brooks, I just don't want anything bitting in the butt right before closing. I know I don't have to give it to her lord knows she doesn't  deserve it but if I can avoid any issues  by doing that  I'll just take it as the cost of doing business.  I can see you clearly  disagree wayne, and I'm totally  with you on that. 

@Eric X. @Sarah Ziehr

lol good one@Wilson Churchill. I could really care less if she pays or not

 I just don't want anything to get in the way of the sale... and to think I just put a brand new 150$ kitchen faucet in for her this past Sunday.  

So I guess I should just give her back her deposit. And call it a day? Or just leave  it alone  and hope nothing happens before I close

Hello BP family, can any one tell me what to do? I'm selling my building and I'm set to close in 7 days,  my tenant just told me that she's not going to pay rent this month (month to month lease)and to use her security  deposit because  she plans on moving. Are  there any legal issues I should be worried  about? She made it clear that her sister  was a lawyer  and that she  knew her rights. she also said I was being misleading and dishonest. The the thing is I never told her she had to move. In fact the new owner said he wanted her to stay........ am I screwed? 

Hey guys, I'm sure I'm WAY off topic for this forum but everyone who's posted here really knows their stuff. So with that being said can anyone give me some advice on how to analyze properties? I've been using the BP rental calculator and it ask to input ARV and Estimated Repair Cost. Is there a base line number or % I can use that won't screw up the analysis? I'm not new to realestate, just new to doing it the right way. Thanks in advance. @Jeff B.

@Art Maydan , I did the same exact thing in 2010, 3% down on FHA loan for a 2 flat In North side chicago. I did most of the rehab work myself. Lived practically free for 3 years. Not to mention I had no previous investing experience. House hacking works and if you buy right, once you move, a nice part of the rental income goes right in your pocket. Good luck and best wishes!!!!!!

Originally posted by @Ramon Moreno:

hey guys, just found out that my neighbor is being for closed on, the lady who owned passed, there is now a lis pendance, first mortgage for 123k, refi for 40k, and then another for 62k. When I looked at county recorder web site the 62k was written as 6,234.00 On the original documents. Is it a typo ? Is it worth digging deeper? Also left a note on the door saying I was interested in buying the house hoping a relative might find it and noticed that the mail was in someone else's name? Could there be a second owner? If so how do I contact them?

hey guys, just found out that my neighbor is being for closed on, the lady who owned passed, there is now a lis pendance, first mortgage  for 123k, refi for 40k, and then another for 62k. When I looked at  county recorder web site the 62k was written as 6,234.00 On the original documents. Is it a typo ? Is it worth digging deeper? Also left a note on the door saying I was interested in buying the house hoping a relative might find it and noticed that the mail  was in someone else's name? Could there be a second owner? If so how do I contact them?

@Mark Neiger , I'm sure I'm WAY out of my league posting in this forum. I m basically a newbie with some cash looking to put it in the right market. I can't tell you how or what NUMBERS to crunch but I can suggest this .

" Extraordinary Popular Delusions and the Madness of the Crowd " by Charles Mackay

ZIG WHEN EVERYONE  ZAGS. 

I wish you luck with you future investment and to all those who have posted their thoughts. AWESOME JOB priceless amounts of information in this forum. @Jeff B.

@Account Closed the tenant and I have a pretty good relationship and he understands why I'm selling the building. he has agreed  to move without any compensation so I guess I got pretty lucky. Well..... for now that is lol. One of my number one rules for money is..... don't laugh..... money makes people funny.....