All Forum Posts by: Vince Leydet

If I'm understanding this right she is not in the building yet correct? This is very simple, do not let her in until rent is paid. Anyone old enough to be renting an apartment should have enough sense to get the money out of the bank early.

Glad you got it!  For the future I typically call on the 2nd and see what's going on. If no answer or reply within 24hrs they get the 14 day notice. This will show them you are serious as well as use up their one chance to cure in a 12 month period for the state of MA.

A couple things I've learned in the past is to not show the property until it's completely ready. Also after having the same issue of no shows a few times I've started to only offer showings in groups. I tell people I'm showing it on x day at x time. That has worked far better for myself and saved a lot of time. If they are serious they will show.

@Chris Mason 

So the catch to assuming a VA loan is if the person has equity, you have to cash out there equity. In this example the owner owed $70k and we agreed on $90k sale price (didn't know his balance at the time). So I would of had to put down the $20k which now makes sense. It's actually more than just putting down the 20% and securing my own financing. Needless to say this did not work in this instance.

 Chris thanks for your input! I'm waiting to hear back form my attorney on the last bullet point as I had the same question.  Ill keep you posted if there is progress and things move ahead.

I was wondering if anyone has ever bought a property through a VA assumable mortgage? I have the opportunity to purchase a decent 3 family with a lot of potential, but I have never used this method of purchase in the past. Seems like a pretty easy way around the 20% cash down for traditional financing. Any and all input is much appreciated!

A buddy of mine went through most of the process and realized the amount they wanted out of pocket was alot more than originally discussed . May have been due to his own situation, but I know they do charge $$ upfront to get the proof of funds letter. Pm me if you looking to invest in MA, I came across one that seems pretty straight forward in the 2 talks I've had with them. 

@Account Closed  Thanks I will check that out !

Before I get myself into a ball game, I just wanted to know if anyone has successfully used a business credit card to purchase real estate.  I have come across a few of these companies that will get me 45-65k of business credit cards that I can then liquidate into cash for a purchase and was wondering if anyone has ever used this method before. Seems like I would be able to do this to purchase and then turn around and refi the properties to avoid the 20% down.

Any thoughts would be helpful thanks

@ jonathan godes Project looks like this Purchase price of $47k rehab cost of $45k with a ARV of $160,000. If anyone needs anything else let me know