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All Forum Posts by: Rodney Sums

Rodney Sums has started 25 posts and replied 557 times.

Quote from @Caroline Gerardo:

@Rodney Sums In CA you cannot turn off utilities and  can't alter locks or stairs as she will bring those images to court and owner will be in trouble.

In CA you have the right to honor any god including witch whatever way you please.

Green Beret friends show for rowdy BBQ - bring on the steaks and kegger? Dancing ensues. 

Religious groups knock to convert, and sit outside chanting that she can change.

There are ordinances about noise and barking dogs but recordings of crows and hawks during the day. Crows are brilliant ~ feed them peanuts and let her go out and shoo them away, corvids take her car windshield.

Grandma comes to visit and asks for favors every hour: cup of sugar, how do I open my phone, can you help me ? ...


Sun Tzu :  take the enemy's country whole and intact; to shatter and destroy it is not so good.

@Dan H.  I saw articles spun left, right, and upside down. Almost bought a luxury house in LA 2023 from an exchange thanking lucky stars the agent wasn't on his game.  

The owner has poor representation, needed a marketing campaign. Owner appeared: rich angry dentist in court. She wore a green tattered skirt and a cane, Pitiful Pearl doll illustration below.

Tenant went to Harvard and this is her third gig.

 I hear you. But he's already in trouble. The government has told him he has to shelter someone for free or pay to move them.

But seriously, one would have to be smart while within the law.  @Jon Martin

For example, the utilities need to be off if you're "fixing something".  Like what if some hoodlum poured cement down your sewer line? 

Post: Cash Out on 90-100k property

Rodney SumsPosted
  • Laveen, AZ
  • Posts 582
  • Votes 525
Quote from @Jamie O'Connell:

I own a property that I bought for $55,000 in cash and put another $25,000 into fixing up. I believe it will appraise between $90,000 - $100,000. I bought it outright and don't owe any money on it. I would like to get as much of that cash out as possible to recoup what I have put in to it. It is owned in an LLC and I have a high credit score.

Looking for any suggestions on how I should get the money out. Some say LOC, or cash out refi but the under 100k appraisal possability is one road block. High fees for DSCR Loans and such is another possible road block. Have owned for almost 4 months for possible seasoning issues.

Any thoughts or contacts would be greatly appreciated! 


The simple solution sounds like take a mortgage out on it, with consideration to cash flow calculations. That's where the lowest payment will come from as opposed to a LOC.

What's your income situation?

Quote from @Genevieve Aruede:
Quote from @Rodney Sums:
Quote from @Caroline Gerardo:

This is her second time with this scam.  https://twitter.com/9mm_smg/status/1710065763569057807 

Take drum lessons, Steve Moore can only come at 11:00 PM and 5 AM to teach. Your son is breeding frogs from the Amazon that smell like feces. Your doctor said to do karaoke or sing the Sound of Music wearing goth clothing on the rooftop to calm all health problem. Get a boyfriend who needs to use the leaf blower to dry his hair. Develop a fetich for solicitors who door knock. 


 Let's keep this going. I'd ask the attorney what would happen if I:

-invited sex offenders, felons, amd gangsters to come party in the yard near the ADU where the tenant has to walk past on a regular basis

-spray painted all the windows on the ADU black to save on cooling costs, make it more california eco friendly


-got some of those nonstop-barking dogs, the kind that bark if the moon moves too fast or the leaves rustle too much

-turned off utilities to the ADU

-painted the whole ADU with images of Satan and 666, sat in the yard lighting candles with a bunch of people who looked like Marilyn Manson, doing sayonces every night by the ADU

-built a tall flight of stairs up and down at all doors to the ADU. Grocery day would suck.

-installed 7 deadbolts to all adu doors, all taking different keys, crime is on the rise

Wouldn't that be cutting off your nose to spite your face though? Esp. with the "felon" solution, because then you would be trading one felon for another (probably worse) felon. Or vandalizing a very expensive property. I'd go for the noise repellent :-)

 Nope.  It's just appearances.  They're not moving in.  Loud music is great but people will make changes if they feel their safety is at risk, even if it isn't. 

Quote from @Loren Perez:

Hi everyone. I have been renting one of my homes through the voucher program in Atlanta. Things started off smooth but to make a long story short, I decided not to renew my tenants lease. They are supposed to be out this Friday and now saying they have nowhere to go so if I don't extend the lease then they are just going to stay and go through the process. This literally just happened a few moments ago. I have avoided conflict with the tenants over the last 60 days to include not showing the house but have contractors and showings scheduled for next week. I have contacted the AHA but was hoping for some guidance from anyone else.  


 I'd like to ask, what's your level of experience managing tenants in general, in addition to managing Tenants from housing programs?

Have you ever worked as a property manager?

Quote from @Caroline Gerardo:

This is her second time with this scam.  https://twitter.com/9mm_smg/status/1710065763569057807 

Take drum lessons, Steve Moore can only come at 11:00 PM and 5 AM to teach. Your son is breeding frogs from the Amazon that smell like feces. Your doctor said to do karaoke or sing the Sound of Music wearing goth clothing on the rooftop to calm all health problem. Get a boyfriend who needs to use the leaf blower to dry his hair. Develop a fetich for solicitors who door knock. 


 Let's keep this going. I'd ask the attorney what would happen if I:

-invited sex offenders, felons, amd gangsters to come party in the yard near the ADU where the tenant has to walk past on a regular basis

-spray painted all the windows on the ADU black to save on cooling costs, make it more california eco friendly


-got some of those nonstop-barking dogs, the kind that bark if the moon moves too fast or the leaves rustle too much

-turned off utilities to the ADU

-painted the whole ADU with images of Satan and 666, sat in the yard lighting candles with a bunch of people who looked like Marilyn Manson, doing sayonces every night by the ADU

-built a tall flight of stairs up and down at all doors to the ADU. Grocery day would suck.

-installed 7 deadbolts to all adu doors, all taking different keys, crime is on the rise

Quote from @Tyler Hodgson:

House-hackers and agents rejoice!

🙌🏼

Starting Nov 18th buyers can purchase a 2-4 unit primary home with just 5% down on a Conventional loan (Fannie Mae) 

😱

For context: 2 units used to require 15% down (some exceptions), and 3-4 units required 25% down.

Home buyers will be able to generate rental income with minimal out

of pocket as long as you occupy one of the units. 

FHA has been the go-to for low down payments on 2-4 unit properties, but there are definitely some big benefits to being able to do this using a Conventional Loan.


 I'm curious if this will be bad news and good news at the same time for investors.  There's already a lot of competition to buy a decent multi.  The new pool of buyers don't have to consider cash flow implications when bidding.  

On the bright side, perhaps this is good for the general public and multi-generaltional families that just wants a place to live and are often outbid by investors.

Quote from @Rodney Sums:

Article below.  California is cold for this one.  It amazes me the state allows tenants take people's property hostage like this. I can imagine people now conspire to find properties they can exploit this way. All you need to do is look for a rental missing permits, then hunker down.  

Thoughts?

https://abc7.com/airbnb-guest-wont-leave-tenant-nightmare-br...


 Someone else shared this story in short term rentals section. Can't delete. Oops!

Quote from @Jonathan R McLaughlin:

quote: The city building department determined that the guest house was technically never approved for occupancy

There is no such thing as "technically not approved". There is just "not approved". He built and operated an illegal unit. He did it knowingly. His behavior was just as unscrupulous as the professional tenants, just not as dramatic. 


 The landlord is absolutely wrong for renting property that isn't permitted as such.

I am not of the mind this warrants providing free housing for someone and having them take hostage of the unit demanding what is effectively a ransom.  

If she did this before I would wonder if there's grounds to consider this extortion.

I am astonished by the hypocrisy. If the shower and ADU don't have permits, the thinking should be it was not confirmed the unit is suitable for habitation. So how does the state go on to say the remedy is let someone live there free or get paid to leave?

I feel bad for all California landlords.  Their government has made them responsible for the housing crisis.

Article below.  California is cold for this one.  It amazes me the state allows tenants take people's property hostage like this. I can imagine people now conspire to find properties they can exploit this way. All you need to do is look for a rental missing permits, then hunker down.  

Thoughts?

https://abc7.com/airbnb-guest-wont-leave-tenant-nightmare-br...

Post: Homeinsurance are up :( any suggestion

Rodney SumsPosted
  • Laveen, AZ
  • Posts 582
  • Votes 525
Quote from @Viral Patel:
Quote from @Matthew Rolf:

@Viral Patel I just suggested this to someone else but I use Britton Skinner (248-891-0893) with Goosehead...I think he's great and will explain things thoroughly to help strategize.

hi Matthew, thanks for the response. I will reach out to Britton about it. I already have one house with them what I know is they charge me $199 setup fee which I think is a lot. Do you know if they can discount it. When I asked they said if you get 4-5 house then they can reduce it is $100

 A fee for what???

Man I use a broker for multiple properties and vehicle policies. There's no fee from them for that. Maybe I missed something but if someone wants to charge you to shop insurance from them, look elsewhere