All Forum Posts by: Juan Ayala

Seeking lender who would do a AVM for a property in Los Angeles county that is about 50-60 % LTV. Re-fi would be for a owner occupied loan.

RBFCU after dragging my process with them just notified me after the appraisal that they do not lend on properties in Texas with no central HVAC? Anyone had similar situation or does this sound right? I complained to them that for something so standard such as this they should do a better job pre qualifying applicants and asking the question in order to avoid consumers from paying $500 in appraisal fees just to then get turned down. Having a difficult time refi my property worth $70k and i only owe $36k on it and dont want to cash out. Any suggestions BP fam?

BP Fam,

So recently i had some tenants who moved out a month before there lease ended and came give me no notice. I found out because the downstairs tenants of mine complained that they heard running water all throughout the day and dident want it to be a water leak which would result in it leaking over to there bottom unit. So i attempted to reach the tenant by text and phone various times and no response after a few hours. So i sent my GC in and he had to pick the lock in order to get in only to find out the toilet was running but not leaking. Finally i heard from the tenants who's unit we just got in and they told us they had moved out and were unaware of the toilet leaking. So since we changed the lock i offered to meet up with them and give them the key. They said no because they did not plan on returning. It was evident since they had nothing left in the property. They then started to complain about previous issues with rodents and even complained with the department of health. They had no grounds to stand on as i responded within 24-48 hours and sent pest exterminators in. So i took there security deposit and notified them by email. Apparently after discussion with another attorney was informed i messed up by not sending them the itemized report of me taking there security deposit by mail. Keep in mind all previous and i mean ALL previous correspondence was by electronic mail or text message. I've moved on and re rented this unit but now i have some utility bills that they owe and have no way of reaching them. They ignore the invoice our property management system sends as well as our text messages. They only owe us about $140 in bills. I've decided to chop it up as a loss but figured i drop my story on here and see what everyone suggest i do and maybe a system i can report these individuals too in order to prevent other landlords from coming across these same types of tenants. They had to nerve to ask me for there security deposit back even after leaving with no notice and 30 days ahead of the lease termination. Would love to hear thoughts on this BP family? 

Seek an investor interested in purchasing a performing note for a property i own in Houston, Texas. Property has been recently appraised on 05 Jan for $69,500. Seeking to borrow the below and use the property as collateral. Property has no liens. 

Note amount of $35,309

Term: 15 years (negotiable) 

Interest Rate: 12% (negotiable) 

PITI $424

BP Fam,

I have some tenants who lets just say i am glad the lease has finally come to an end. Well not quite yet, they gave me an appropriate timed 60 day notice that they were not going to renew the lease. But 30 days before the lease ended, they decided to take it upon themselves and vacate the property. I had a neighbor complain on Christmas Eve that they heard water running so i sent someone into to the property immediately since these tenants would not respond to my urgent message. That is when we found out that they had moved out. They left some items in the property and we had to change the lock. They finally responded to my message and told me they planned on coming back to finish cleaning but at the same time they left because they were sick and tired of the rat issue. They've previously complained about it twice and i sent someone in immediately to take action and close up and clean up the areas we believed they were entering through. I have proof and am not concerned if they try to hold that against me because i took action immediately after notification. They told me they could not handle the rats anymore and decided to leave. Funny thing is we have tenants downstairs from them and they said its not that bad. I've had multiple other issues with these tenants but this was the final straw. Now its a few days before new years and i am stuck with an empty property during the holidays working to refill it. What should i do as far as the issue with the previous tenants who just left? This property is in Los Angeles, CA and not in a rent controlled area.  What love to hear what you guys think? Happy new years BP FAM!

I am planning on paying all cash for property and looking towards my exit strategy a year or so from now. But i have too many mortgages under my name driving my DTI too high. What type of lenders should i be looking for? Any recommendations on lenders in Houston that would refi my apartment unit and not penalize me for having a high DTI?

Thank you to everyone that replied @Lance Lvovsky, @Wayne Brooks, @Dave Foster! I really appreciate it. I will be consulting with a 1031 company and CPA.