All Forum Posts by: Blake Jarrett

Maybe it is different in different states but our lenders will always want to choose the appraiser. I can't see any of my lenders letting me pick my own appraiser who I could potentially have a great relationship with allowing me to sway them to appraise at a higher number. Talk to your lender and they will get it scheduled.

Welcome! I am from Huntsville as well. If there is ever anything I can help with don't hesitate to reach out!

-Blake

All of my rent is due on the 1st and late after the 10th. After the 10th it is a $50 fee and $10 a day after that. I will not accept the rent unless the late fees are included. I post eviction notice on the 11th with the late fees spelled out. I'm not sure if you can legally take the late fees out of the deposit.

Typically the amount they list on the foreclosure website as the starting bid is the amount owed plus any fees they need to re coup. You need to do your homework though because you could be bidding on a home equity loan or second mortgage etc which still has an original mortgage attached. That's my experience anyway.

Everything Rob Harris said is spot on as far as I know based on my experience. I recently bought two lots and divided it into 4 separate lots. I could have probably got more than four out of it but if I did anything greater than four I would have to make it a subdivision. I simply had a surveyor come and re survey and divide the land, I then recorded it at the court house. Of course every city is different as far as the rules.

My local bank will allow me to take out a loan right away. Keep trying.

I'm in the Huntsville area. I currently have 4 Single family, 2 duplexes, one flip, building 4 more duplexes as we speak, and just went under contract for a couple of lots that I am going to build 2 triplexes on.

It really depends on what the other comps have in them. If the property is at a high price point than typically it would be an engineered wood, in my area anyway. Bottom line is just don't put laminate in when all the other comps have engineered wood. If it's a rental then that's a different story.

Zillow is not a good guideline at all. MLS data is going to get you the most accurate data.

That's a tuff spot to be in. I have been in the same situation before. My tenant had been renting one of my $2000 a month rentals for a year. He had been a great tenant and I extended the lease when it was up after the initial year. Well wouldn't you know after that first year rent started getting later and later and I was always having to post eviction notices etc. His excuse was that he had cancer and was having to go to Texas for treatments and wasn't able to work like normal. On about the third month of him being late he said he couldn't get me the rent right now because he was out in Texas getting treatment ( BTW he paid electronically no need to be in town), but he would get it to me as soon as he got back. That very day I went to the house to post notice, rang the doorbell and who do you think answered the door? I said I thought you were in Texas! Long story short, like others have said treat it like a business. You never know who is telling the truth, people will say anything. If you were late on your mortgage do you think your lender wouldn't foreclose because you couldn't work full time for a couple of months? I'm a trusting person and like to be nice but it just goes to show you when you are you will get burned.