All Forum Posts by: Sean Rhodes

@Cisco Hood if you have a conventional loan I don’t know why you would have to stay in it for any amount of time. Normally that is not when you are doing a fha loan. Is it a multifamiy property?

@JD Martine what is your screening process??

@Mathew Wray The tenants are on month to month leases. And also the seller agreed in the initial contract that the tenants were going to be his responsibility. So even though I want the tenants I would like to try to receive a credit at closing for me taking on his responsibility for the tenants. But my only concern is that the seller doesn’t want to talk about the tenants until after the inspection time is done. Won’t it be too late to negotiate once the inspection is done?

I have just put my first property under contract this morning. I owe a huge thanks to BP and all its members especially @brandonturner and @davidgreene definitely couldn’t have done it without you guys. So now I’m going through the inspection time and I kinda got screwed on their counteroffer cause they accepted my price (299,000 on a 5br/2bth 3000sqft In Portland, OR) but they wanted to cut my inspection time in half from 10 to 5 days. I knew I would be pressed for time but I did it anyway. So my question is about the current tenants in the house their are five people currently renting rooms for various prices depending on room size. I kinda want these people to stay as long as everything checks out with their background check and credit report. So in Portland they have very strict renters laws favoring the tenants and it can be very expensive to get them out of a residence and what I’m wondering is how to negotiate that to my benefit with this seller. Any comments or tips would be greatly appreciated!!! Thanks everybody

I am currently living in Portland, OR. And I am in putting offers in On multi family properties in Louisiana. So I have been negotiating on a duplex for 50k and I finally agree to pay 50k and so I ask them about the disclosure for the property. And they send me a disclosure exemption legal document. And what it says is that the owner inherited the property from a family member so he DOES NOT have to give a disclosure. So I am super new to all this and my question is basically should I run the other way? Is this legal? Ummmmm is there another way to make them give me the disclosure? Thanks again BP!!!

I would like to find something in NE. But I will go wherever the deal is

I live in Portland, Oregon . Looking to do a house hack in Portland. But property values are really high right now so duplexes are especially hard to come by. And also most lenders that I have talked to are requiring at least 25% down. If anyone knows anything or has any tips I am super open to help!!! Thanks BP!!!

Originally I was planning on going with hard money but those monthly payment kinda made me think I need to just go conventional. I actually just came across a guy that’s going to let me do zero down. But it will have a 5.6% interest so I think that is going to be the way to go for me.

A friend and I were going to try to flip a house for the first time and I was wondering the best way to go about it. Is it beneficial for us both to start an LLC or should we just have the mortgage in both of our names? Thanks again BP!!!

The property is in Portland. The tenants will be paying their own utilities. The property taxes last year were $5000. I’m not sure about the insurance. I have great credit and will probably be putting 15 to 20 down. I haven’t been inside the property yet but the outside is in decent shape but not great. I make like 50k a year.