All Forum Posts by: Jaycee Greene

Hey Steven. Have you asked the HML for an extension? Most HMLs I deal with will do that; however, they will probably charge an extension fee.

Hi Meredith. Welcome to BP. What did you have in mind for expanding your portfolio? Do you prefer single families? Are you looking to flip or keep long term?

Hey Andrew. Those are some good numbers. Good luck on finishing it up. 

What do you mean by "banker funding strategies"?

Are you going to get a DSCR loan once you get all the units rented?

Hi Elia. I'm sorry to hear about your husband's job loss. First, I would confirm the values of the values of the properties you currently have, along with the cash flow you get from the rentals. I would hope there's some equity in those properties that you could leverage to create some short-term cash flow, along with paying down some of your credit card debt. I work as a part-time CFO for several real estate developers like yourself and help them through similar challenging times.

Hey Reece. I'm in the St. Louis area and happy to answer your questions. For this one, I'd say a fix/flip is definitely the "easier" way of getting into the game vs. new build but it still has its pros/cons. I work as a part-time CFO for several developers across the U.S. and help them figure out if their deals work for them. I'm happy to chat if you want.

Hey Carey. I have some clients in MO that have bought tax liens and the QT process is usually 90 days. Since I'm not an attorney and can't give legal advice, I did a little more digging and found the passage below. My concern for you is that it appears that if the owner comes back, they only have to pay the bid amount + costs, not what you paid for the broker. Plus there could be other liens on the property that you'll have to deal with too. Good luck.

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In Kansas, the waiting period for a successful bidder to receive a Sheriff's deed after a tax lien sale is usually around 90 days. This waiting period allows for the following:

• Payments to clear
• Any disputed sales to be settled in court
• Delinquent taxes from previous years to be removed from the property record

The redemption period, which allows the original owner to redeem the property, is usually 90 days, but can be up to 365 days. During this time, the owner can keep the property if they pay the bid amount and other costs. The successful bidder has no legal right to the property until the redemption period ends. If the property is redeemed, the successful bidder will need to contact the plaintiff's attorney to get their funds back. Properties with a federal lien have a different redemption period. The federal redemption period is 120 days from the date of sale. A deed will not be issued for these properties until the federal redemption period ends, unless the federal agency chooses to redeem the property.

I would expect the one in his personal name shows on his credit report as a mortgage and the lender will factor it in his DTI. The "DTI" is generally used in consumer loans (like a mortgage for a house) and "DSCR" are used with commercial loans.

Hey Taye. Rather than looking at "good" areas, I'd ask you what cities/metro areas you like to visit or where you already have family or friends that live there.

Hey Colby. Do you know if your friend has the loans in their personal name rather than an LLC?

Hey Danny. I have clients in KCMO that buy distressed properties and generally don't have issues, but they have several years of experience doing this, some properties are even abandoned. Happy to chat more if you have questions.