All Forum Posts by: Benjamin Von Blon

The PM company I previously worked for never pulled a score, just the credit report and we made a determination based on account status so the score aspect is new to me. The reports we pulled showed credit line items separate from rental/public judgement information items. I thought evictions would only influence the score if there was outstanding monies owed and/or if the claim went to collections.  If the landlord that filed the eviction never pursued any money owed it would not be reported the credit agency, thus not affecting the credit score.

Sorry, I was out of town for a while. Thanks @Abraham Saldana for the tips.  I did a lot of driving around yesterday.  There are parts of the city that feel like they are ready to improve.  

@Jeremy Simpson thanks for the reference, I will check them out.

 I'm a little confused by this statement... Are you talking about upgrades to be built in new construction after demolishing the current building or can it be a reno on the current structure? 

Hi BP,

I am still new to the triangle area and looking to connect with a property manager familiar with Durham to talk about rents.  Driving the city there is a wide range of housing and want to get ideas on rental rates, vacancy, ect.  Currently looking outside of the core - north of 85 or south of 147. 

Just wanted to say I enjoyed meeting everyone tonight. Thanks for welcoming me to this new city. Looking forward to learning more about the area.

@Dawn Brenengen @Michael Jobe thank you both for the responses. I will keep my eyes open for information about the meet up and look into TREIA and RTP REIA.

We moved from Columbus. I lived there most of my life.

Thank you again!

@Jordan Ross I actually just moved from the Columbus area last week.  Sorry not looking there right now.

Hello again BP,

I'm not exactly a brand new member so I hope this post is OK. I recently relocated from Ohio to Raleigh. I've followed and posted a little bit, but wanted to reintroduce myself in my new home. 

I've worked in several aspects of RE over the past 8 years, most recently in property management. I will hopefully be closing on the sale of my first investment property (duplex in Ohio) this week that we lived-in and renovated over the last two+ years. I would like to connect with some REIA in the area if anyone has suggestions and look forward to future investments.

Thanks! Ben

 Interesting, I didn't realize there has been a change. It has been a few years since I have applied for a loan.

I am not a lender, but here is my understanding...

PMI is not insurance for you. It is insurance for the lender. They require you to pay the insurance in case you default on your loan.

If you out down 20% and default, in theory, the lender could quickly sell the property below market value and still get back what they allowed you to borrow. If you are only putting down 5%, it is riskier for the lender because that decreases their margin if you default.

PMI should drop off as soon as you have paid the principle down below 80% of the contract price.

I would think in general it would be best to avoid PMI, but it depends on the situation. What will you do with the extra cash not siren on the down payment? How will the PMI effect your cash flow?