All Forum Posts by: Ryan Parnow

I am beginning to do some early principal payments to get my loans paid down and was trying to do an analysis across the multiple loan portfolio on the effects of the paydown.  Does anyone have a spreadsheet that would work to help figure out the snowball effect of paying down a loan and then applying those payments (minus taxes and insurance) to the next loan.  Does anyone have anything like that or know how to put something like that together?

Lots of misinformation in this thread.  

@Cornelius Burton @Mitch Coluzzi No, you can not include late fees on your 3 day notice. Nor can you include the previous months rent if it goes past the first of the next month (or the time period when rent is due if its not due on the first).  

@Justin Marshall Time of the year has nothing to do with it.  You are not prevented from evicting someone in the winter.  

@Rebecca B. 1. Google Linn county iowa sheriff 3 day notice.  They have a form and a process flow map you can use for eviction.  Landlords of Linn County also has a nice guide to evictions.  I suggest you check it out.   2. No you cant include late fees in your 3 day notice.  

@Glenn McCrorey no.  It is in Marion.  

I just closed on a house from Auction.com here in Cedar Rapids.  Things turned out pretty good but the closing date kept slipping and there was little communication.  Overall, it was a positive experience.

Who does the lawn and the snow removal?  

You should include management expenses even if you plan to manage it yourself, because someday you might want to hire a manager (or have to).

$50 a month seems low for cap ex for a building that old.  

@Tanya Smith That's not a very good deal.  You should be able to find places that rent for 1.2-1.4% of the purchase price in this area and thats without going into the war zone (Wellington Heights)

@William Lunsford I just closed on a "cash only" deal using a line of credit on a paid off rental house that I own. I am in the process of refinancing to get the LOC paid off.

Does anyone have a feel for the way the starting bid, bid increases, and reserve all correlate? 

@Jean Norton How did you get to be VIP Gold level?

I recently closed on my first auction.com property.  It took longer than I would have expected considering it was a cash deal.  I am happy with the value so far, but its always the things that sneak up on you that get you.

I am in the process of buying a property through auction.com in my area.  I am told that they wont have an abstract for the property.  How big of a deal is not having the abstract?  Will that present problems if I choose to sell the property down the road?  If I have title insurance, will that cover me? I am assuming I would need to pay for an abstract if I end up selling to a buyer that needs to finance the property.  Is that correct?  Finally, how do people deal with not having an abstract when buying at the sheriffs auction?