All Forum Posts by: Account Closed

congrats Jon Klaus.. now you're one of them :)

Bienes Raices, sorry to hear of your frustrations..there are positives and negatives to both banks i believe...hwoever, if small banks are willing to invest in my business, i'm willing to settle on some of the other fluff services that big banks offer....i prefer to drive into my bank to deposit, transfer funds, wire money, etc. the more i hang out there, the more insider info i get, and the closer the relationships i build with the commercial lender, the vp of the bank who stops in a few times a week, the tellers, etc. they usually eliminate holds for me now bc we're friendly with eachother..they'll also transfer money for me if im' on the road and i call it in..yes, they know my voice (its a real small bank) :) if you can coever the check, ask if your balance can eliminate the hold..otherwise, you acn usually ask for a shorter hold..and like i asid, after a while, they may eliminate it, if you it's the same lender writing draw checks for instance, and y ou'e never had a problem..

congrats Mike Nelson....what area is this in? certain areas will crush you with lawn mowing fees, debris removal, snow removal, etc. so make sure to budget that in if you plan to keep vacant for a few years...another option is to sell owner financed and pocket a few bucks every month...not a homerun, but it'll open up your buyer base, and will turn something out of nothing..good luck! also, even though it's just a lot, i'd still recommend insurance to protect you in case someone trips on your lot or something ridiculous happens :)

i can see you posting something like this every month unless you take control now..it's your property, your cashflow, and your bank account..for now on, when the tenant complains, you choose the contractor who goes out there and you decide what they do...the tenant doesn't get to decide to have more work done at your expense..in the meantime, i'd work on finding a reliable handyman, and some licensed subs for the more complex issues...good luck

Steven Hamilton II what a trooper! glad you're feeling better

Yiu get the deed whn you pay off the original seller on the contract.. That should happen when you sell as it should be enough to pay off the original contract..you may or may not ever be put on title.. Someone else on here should know better than I..

how about selling the entire property?? if the land has really doubled in value, the lender would do better to take back the property sell himself...maybe that sounds like a hassle, but i know of a hardmoney lender who preys on borrowers and does better when they default...sell the whole property and it sounds like you made money...now, he may do some sort of a release, if you ask him and an attorney..just depends on how active he is in realestate, aware he is about the values and the opportunities, and how nice he is :)

i guess i'm one of the blind sheep that follows the pack...i agree permits are a pain and a ridiculous fee that the government mandates...however, they do serve a purpose...i didn't see if you specified who ran the sewer line..my understanding was the seller himself did it...that's a different story than having a licensed plumber do it on a weekend and not pulling the permit (not advocating this approach either, just separating possibilities). if you think this will cause problems in the future when selling, i would factor that into my purchaes price now.

i'd stay away unless you were getting a steal and therefore, could justify the risk of having to demo floors and concrete.

Bienes Raices what do you mean by replaced the sewer line? the whole sewer line out to the street? just a two foot section where there was a bad clog? is the house on a slab?