All Forum Posts by: Bryan Devitt

As far as I know, you won't be able to. You need a W2 job with 6-12 months of pay stubs or 2 years of taxes showing your self employed income. You cannot ask a bank to give you hundreds of thousands of dollars with no way for you to pay it back. Even people on here with 5-10 properties that are all cash flowing have a hard time getting loans after they leave their W2 job because the properties break even or lose money on paper and that is all the banks care about. You're not going to get a hard money lender to want to give you a mortgage and even if you can, paying them 12%+ will destroy the numbers. If you have any experience flipping (I assume not) then you could get a hard money loan and save enough to do multi in cash, but you won't get a hard money loan with no W2 and no experience. This all comes back to, you need to get a job and save cash

I would have pushed closing 16 days. Tell them to give the notice for abandonment and then they have a day to clean the place and get it back to the condition you saw it in. You get no cash but it should be ready to be rented the day you get the keys 

It could be any number of things leaking, in a condo the odds are that the shower is leaking around the curtain or glass and down into the corner by the floor because the caulking has split. If you're getting requests from someone not on the lease, I would tell them that they're not on the lease and you do not accept requests from anyone that isn't on the lease. I would also check your lease to see if you have a clause about extended house guests needing to pass the background check, be approved and be added to the lease or leave the property. Good luck with the problem tenant 

You wanted a cosigner and instead she gave you a bunch of IOUs written on paper with some numbers on it? If she's willing to sign a lease that you feel she won't follow through on, what is the difference to her signing checks that she won't follow through on? Bouncing checks doesn't matter to courts and it will get you no where. The only time they care is when they do it maliciously or with identity theft. Good luck with the situation, but I doubt you'll get anywhere with cash for keys unless you give her enough with first, last and security and somehow her bank statements look as good as they did in January. If we go with the odds in situations like this, you're stuck with her until the eviction moratorium is over with. If CA is like MA that could mean August 2021 or later with another extension or two 

 Just an FYI just because there is no well cap sticking up doesn't mean it doesn't have well water. In a lot of areas caps are fairly recent and the pump is inside the house, so there is never a need to dig up the pipe and cap it. 

 You learn something new every day, we don't have any of that crap here in MA on a state level and have never heard of it on a town level either. Filters get changed every 3 - 6 months depending on the sediment in the well and usage but that's it. We test to make sure it is safe once and forget about it really. 

Is well water common in the area? People are afraid of what they don't know, in some areas people don't want city water because it comes with the city price tag and chemical taste/smell, in other they're afraid of what is in the water and what could go wrong because they're used to the city water. It really comes down to what is standard for the area. If wells are common then there shouldn't be a problem 

 I don't believe it will happen until next summer, it might be sooner, but I doubt it. It takes a while for things to shake out. Tenants that are paying but not working have almost 10 months of unemployment, plus federal bonus money ($600/wk) and most won't bank any of it. They plan to just go back to their job when this is done, but a lot of jobs won't exist anymore. The federal government will more than likely extend the basic state benefits for 2 years like they did in 08, but I doubt they'll keep that additional $600 going. Once the extra money runs out people will stop paying rent and landlords will dump rentals as they can't afford to go through the eviction process in a lot of places because they bought for appreciation with almost no profit. So once again the federal government is screwing with the system and making it even worse, hang in there and it will settle out eventually for investors. 

Talk to an eviction lawyer near you. This is going to be state specific and something you don't want to take the wrong advice on, in CA something like that can cost you a lot of money. I don't know of any loopholes in the federal regulations unfortunately. This was a giant BS blanket moratorium that screwed over everyone like you 

either neutral stone or shiplap. I would stay away from almost all tiles. Shiplap would be the cheapest option by far. Stone you would need to remove the wall material, install a new backer and install the stone. Shiplap you can scrape whats left, install the shiplap and putty and paint it.