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All Forum Posts by: Ryan M.

Ryan M. has started 15 posts and replied 669 times.

Post: HARP LOANS

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

I've been doing some research on harp loans but would like to hear from someone that has succesfully refid a loan lately. The rules have changed from the begining and a lot of the restrictions have been taken off, is what I'm hearing anyway.

Back in '04, '05 I ended up with some mortgages that I haven't been approved to refi. After seeing how prices reset and watching a lot of major players around here end up bankrupt we switched to cash. Anyway, I would like to refi these other loans. They are all 30 year with rates from 5.75 to 6.38%

Thanks.

Post: How can I get a owner occupied loan as an investor?

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

Transferring to a llc later is a good chance they will call the loan also

Post: How to prevent Water Damage Under the Sink

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

What you call sheet vinyl we call linoleum

That slip joint junk may work in your own house but tenants pack all kinds of stuff under sinks. One good hit of the slip drain junk and it's leaking.

Post: How to prevent Water Damage Under the Sink

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

We solvent weld all plumbing with a union installed and then put linoleum in the cabinet. Linoleum is one piece and doesn't let water through. This cost me $4 as we always have extra linoleum around.

Post: Setting rent price for Section 8

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

They also 1099 you at the end of the year.

Post: Mobile Home Investors?

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

Are they metal/metal trailers?

Post: Setting rent price for Section 8

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

Here in MI it is the opposite. Sec 8 is lagging slightly, but are close to 'market'.

Call a local sec 8 office and ask. They will ask what you are supplying (gas, electric, trash) and then they will have a max payment depending on number of bedrooms.

Depending on the actual person their payment will be almost the whole amount or nothing depending on their income.

Post: House is on fire

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

Joe Bertolino

We had a rental mobile home burn in our park last November. The insurance is currently paying the lot rent but they are saying this is the last month they will pay. Is there a time limit on loss of rents?

The issue with the big tiles is lippage, depending on how level your floor is. Be sure your thinset is modified. What is the tile going on? S/b cement board.

Post: Single Hung vs. Double Hung Windows

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

Currently debating the issue on windows and would like some input. This is a rental property and all windows are being replaced. The savings is $800 for the same window going with single hungs. Single hung are actually more efficient. From past experience the more things that move means more things that get broke.

Thanks advance for your input.