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26 December 2024 | 18 replies
Cutting our losses and selling was difficult, but it was the best option given our financial woes.I’d love to hear from others—has anyone else faced something this unexpected during a BRRRR or flip?
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25 December 2024 | 10 replies
I acknowledged his concerns but was unable to resolve the issue.Since the tenant moved in, I have experienced escalating issues with his behavior, including:Lease Violations:Moving items without permission (furniture, safe, carpet cleaner, TV from his room to another tenant's room).Accumulating boxes in the garage, potentially exceeding the agreed-upon storage space.Installing a security camera in the common living area, which is a direct violation of the lease agreement.Failure to submit a work order for alleged issues with the smart lock, as required by the lease agreement.Behavioral Issues:Aggressive and confrontational communication.Unfounded accusations and personal attacks.Refusal to communicate through agreed-upon channels.Loud and disruptive late-night behavior (banging on the door, kicking the door) due to alleged difficulties with the smart lock, often accompanied by profanity.Harassment of my son, the designated on-site property manager, by making disparaging remarks about me and refusing to cooperate with him.Potential for Neighborhood Disruption: The tenant's late-night outbursts have the potential to disturb neighbors, although no formal complaints have been received.Unreasonable Demands: The tenant unreasonably demands advance notice of my access to the property for storage purposes, despite the prior agreement and my right to access common areas and my own storage spaces.Safety Concerns:While the tenant has not directly threatened us, his actions, including the harassment of my son, have created a concerning and unsafe environment for my son and me.Goal:My ultimate goal at this point is to evict the tenant due to his ongoing lease violations, concerning behavior, the harassment of my son, and the potential for neighborhood disruption.Questions:1.
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28 December 2024 | 11 replies
With the potential for a small financial loss on your end, litigation would certainly not be worth the hassle and expense.
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27 December 2024 | 2 replies
I AM NOW USING MY 9-5 TO PAY OFF THE PRIVATE LENDER EVERY MONTH WE ARE SET BACK FINANCIALLY BUT THE future IS BRIGHT !
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26 December 2024 | 11 replies
Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.
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27 December 2024 | 8 replies
If so, invest.Then ask yourself if you're financially fit; can afford this property to make it 1.25 DSCR and have significant reserves for vacancy, capex, lead times, etc.
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25 December 2024 | 8 replies
This gives you a foothold in the market without overextending financially, and you can always explore other investments later.If you can find a multifamily property in Asheville, that’s an even better house hack.
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24 December 2024 | 6 replies
It could impact your home equity and financial security.For a safer and more specialized alternative, consider a Fix & Flip loan.
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27 December 2024 | 4 replies
Unfortunately with those numbers it's tough to find a non-bank lender/financial institution that will lend.Usually loan minimums are $50K and the up to 75% LTV on purchase-money/70% LTV on cash-out refinancing, which basically means you need up 25-30% depending on the type of financing.
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26 December 2024 | 4 replies
If you need financial help, ask under the "Finance, Tax, and Legal" forum.