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All Forum Posts by: Therese V.

Therese V. has started 61 posts and replied 253 times.

Post: Mail for tenant just evicted?

Therese V.Posted
  • Investor
  • Midwest
  • Posts 253
  • Votes 34

thank you. That's what we thought,  but want sure if there was some additional requirement or etiquette. 

Post: How to finance new roof?

Therese V.Posted
  • Investor
  • Midwest
  • Posts 253
  • Votes 34
Originally posted by @Kevin Harrison:
Originally posted by @Therese V.:
Originally posted by @Kevin Harrison:

I say patch it in the meantime and get on saving up enough to get it fixed by next year. You just better hope that it holds up until then.

 We have the money, I was just trying to be creative to keep our reserves in-tact. I always see people mentioning OPM (Other people's money) on here so thought maybe this is part of what they are talking about?

While I understand trying to keep your reserves intact, this situation is exactly why you have reserves. What is the point of having them if you don't use them? Also why would you want to pay interest on money you already have? It would be different if you were going to re-invest this money into another house but seeing as its reserves it is just going to be sitting in your account no working for you anyway.

You make a good point. I would normally just do this, but I always see everyone talking about not using your own money on things or having no money in a property etc.

Post: Mail for tenant just evicted?

Therese V.Posted
  • Investor
  • Midwest
  • Posts 253
  • Votes 34

What is the proper thing to do in this situation? Former tenant was just evicted and mail is still being sent to the dwelling. This is important mail because it is from different welfare departments etc. There is a court date set the beginning of March. Should mail be marked "return to sender" or taken to court and give to the tenant in person at the court hearing?

Post: Current tenants

Therese V.Posted
  • Investor
  • Midwest
  • Posts 253
  • Votes 34

make it a condition to buy that the tenant be out.

Post: Problem Tenant Rent Collection

Therese V.Posted
  • Investor
  • Midwest
  • Posts 253
  • Votes 34

go file for nonpayment eviction and then if they give you a one hour window go pick it up.  If they mail it,  cash it.  If it's true where you live you can take any payments after filling then just go file already. 

I would suggest the storage unit route or laundry room. 

Post: How to finance new roof?

Therese V.Posted
  • Investor
  • Midwest
  • Posts 253
  • Votes 34
Originally posted by @Upen Patel:

@Therese V. I can recommend you to someone that does HELOC on rental properties.

PM if you want the contact.

Moderator: This is not solicitation. I personally can't do the HELOC and the recommendation is not to someone within the bank. My contact is will an entirely separate entity that I have no affiliation with. Just trying to help out a BP member.

What state? The rental property is located in a different state than VA (where we live).

Post: How to finance new roof?

Therese V.Posted
  • Investor
  • Midwest
  • Posts 253
  • Votes 34
Originally posted by @Federico Gutierrez:

Get a new credit card, plenty of the banks are offering 0% interest for new clients

OR 


A balance transfer at 0% is another choice. 

 Thank you. I've considered both and don't want to get a new credit card.

Have you every done the balance transfer method? What are the pros/cons?

Post: How to finance new roof?

Therese V.Posted
  • Investor
  • Midwest
  • Posts 253
  • Votes 34
Originally posted by @Kevin Harrison:

I say patch it in the meantime and get on saving up enough to get it fixed by next year. You just better hope that it holds up until then.

 We have the money, I was just trying to be creative to keep our reserves in-tact. I always see people mentioning OPM (Other people's money) on here so thought maybe this is part of what they are talking about?

Post: How to finance new roof?

Therese V.Posted
  • Investor
  • Midwest
  • Posts 253
  • Votes 34
Originally posted by @Eugene Kemp:

Some roofers offer financing, but you may pay more with a company that does this.

 This roofing company does not (they actually charge more if you use a credit card to pay instead of cash/check to cover the CC processing fees).