All Forum Posts by: Shane Collins

We have a private investor who will loan the full price of good equity deals for a short period of time usually 2 years it’s normally between 8-10% apr interest only payments. I think we got the proforms together today for him. We are also looking for a more long term refinance holder to refinance into. Our debt to income doesn’t look amazing on paper but we have plenty of money and all of our rental properties perform. We have 5 or so to refinance preferably on a 30 year fixed but I’d take a 5/5 adjustable or a 5/1 adjustable with a descent cap on interest rates to lock in. Idk if that answered your question or not lol 

Our lender/Mentor changed up the process by which we get lending long story short. He is requiring 12 months proforma for a 10 unit building we are buying then annually for 3 years. All of the templates I am finding don't seem geared towards long term rental but more for retail sales or something. does anyone have any good advice or a proforma that they use for lending on apartment buildings. Much appreciated!

Our lender/Mentor changed up the process by which we get lending long story short. He is requiring 12 months proforma for a 10 unit building we are buying then annually for 3 years. All of the templates I am finding don't seem geared towards long term rental but more for retail sales or something. does anyone have any good advice or a proforma that they use for lending on apartment buildings. Much appreciated!

I know for a fact that she is doing drugs and I am not talking about weed her pupils look like pen points. I also cannot afford at this time to do anything about it because I need the rent, and I have not seen any signs that the kids are neglected or mistreated other than the one year old crying all day. The demon part was obviously a joke but the amount of noise is not normal or ok. I do not have kids but I have tons of family that have them and by no means have any of their houses ever sounded like my downstairs but of course that is probably because they are responsible sober adults. No responsible adult would allow the kind of noise simply out of respect loud laughing is one thing, but screaming and crying all day plus beating on the walls and floor constantly with who knows what is something completely different, no sane adult would want to listen to this extreme amount of noise all day unless of course they are so high that they don't care.

It is a 3 bedroom Deanna!  I love your answers lol. No washer and dryer not on the lease.

I also think they are on drugs

I have been renting my duplex for about 6 months to a family 3 kids and mom and dad. 1 of the kids 1 yr old. The kid is a demon. He is literally either screaming or beating on the floor all day every day. Every time he runs I can hear his feet pounding on the tile or hardwood. I have talked to the tenant about noise several times mainly about it after 9pm and nothing has changed. Everything downstairs is hard wood or tile except the bedrooms I can hear every bang noise and every scream. It is driving me insane since I work from home. I am literally going insane. Get this.. I live on the top floor.. other than noise the tenant does laundry every single day, every single freaking day.. we are planning on buying a coin washer for that problem. I need a solution please!! What can I do! I need an inexpensive sound proofing method I don't want to hear her kids anymore.. will carpet help if I put it on my floor or do I need to do something else?

So the car payment is killing you buddy. I would sell it and get a beater with no payment, or sell it and have a home and ride the bus. I suggest an fha loan that only requires 3.5% down you can also get the seller to pay some closing costs up to I believe the 3.5% so I say you should have at least 2400 in the bank which if you sell the car odds are you will have that or more! I also suggest going big with your first fha! Go with 3 or 4 units but do your inspections and due diligence before buying. My first deal the seller paid my closing cost and was happy to do so because he was motivated! Good luck!

Met with the bank, That is exactly what it is. Good call and thanks for all the replies. 5 yrs sounded weird. Makes much more sense now! Sorry I am new to all of this.

I am looking for an agent who is available, maybe an investor, but it's not a must. I am looking for someone with passion, and enthusiasm!