All Forum Posts by: Ayne C.

@Joe Villeneuve What are all the abbreviations you mentioned?!

That's great!

I'm changing my last name to an initial asap.  Thank you for posting this!

From: xyz

To: Tenants at ADDRESS

Dear Residents,

Effective September 12th, I am the new owner of the property at ADDRESS. I look forward to working with you on this transition.

Please be advised that we have hired MANAGEMENT CO to manage our property in which you reside. PREVIOUS OWNER NAME no longer own or manage the property.

Your September rent was transferred at closing, and your next rent payment will be due on October 1st.

From this point on, all rent payments, inquiries and maintenance reports and requests are to be made to our new property management company. You will be receiving correspondence from MANAGEMENT CO with further instructions within the next few days.

Please make no further payments to PREVIOUS OWNER. All future payments must be received by MANAGEMENT CO on or before the due date in your lease.

Please feel free to call our new property manager, NAME, at XXX-XXX-XXXX should you have any questions or concerns.

Sincerely,

Following.  I just got QB and I'm wondering if I need something else if I self manage (I don't currently).

No.  I bought my duplex all cash and I still have to wait a 6 mo seasoning in order to conventional cash out refinance at 70LTV.  Anything under 6 months and it's considered a delayed finance, and cash out is at 70LTC.

LTC = what it cost you per the closing statement

LTV = what it apppraises for after stabilizing the property

That's just my lender, I'm sure that other lenders do it differently and that's why we are encouraged to call all the banks to line up financing before buying.

@Tevin Swain Check out Max Maxwell podcast and his videos on yotube. He also has a helpful facebook community.

Sorry my formatting didn't come through.

@Cody Williams I look at sold data on Zillow for that zipcode Same number of bedrooms and bathrooms sqft plus minus 200 Then look at the pictures for an idea of rehab status Try to get comps from the last 6-12 months

@Lucas LeBlanc Awesome. Thanks!