All Forum Posts by: Derrick Dill

Derrick Dill has started 10 posts and replied 305 times.

Lender calculates your debt-to-income. Some millionaires living paycheck to paycheck. Some minimum wage workers got 200k in the bank.

1 Vote

Use rentometer. It shows all listings that have been within a 1 (or however many miles you choose) mile radius of your property and what they rented for. Instead of guessing, take real data and what the market rate rent is.

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property taxes usually go up as well. More repairs the older a house is

1 Vote

Originally posted by @Elias Barend Westhof:

Thank you. I agree, it seems like a huge gamble. Do you know if there is any way we could offer cash for keys to the current tenants? Perhaps we can make an agreement with the current owner where he gives the tenants a CFK offer?

Worth a shot. say you’ll buy contingent on the property being vacant. I would offer a couple thousand to help with getting them out/getting rid of the headache

0 Votes

Originally posted by @Elias Barend Westhof:

Thanks for all the replies. Is there any particular reason we cannot simply evict the person after the moratorium ends in September?

September is the new extension date. It has been extended several times already. Are you confident it ends in September?

If it does end in September, there will be a significant backlog of people just like you trying to evict. Eviction would take a couple months before COVID/courts closed/impacted system. I'll say it'll take several months to do an eviction in (if) September.

California is a tenant-friendly state as it is, with COVID moratorium protections, there are even more complications and problems that arise with eviction.

1 Vote

You can put down 3.5% on owner occupied FHA loan for primary residence. I have several FHA currently, I had to write a lender explaining to lender that I'm moving closer to work

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You can try with a co-signor.

If not, get income history and start preparing for when you're eligible

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just upgrade the window unit to 15000-20000 BTU.

1 Vote

Texas a little over half California GDP now! Doing great over there, cute growth.

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Austin, Texas

Originally posted by @David P.:

Originally posted by @Derrick Dill:

Tenant hasn't been paying, taking advantage of eviction moratorium. I applied for rental assistance as soon as it was available. Received the check today for all missing rents and 3 months rents coming up. Took forever, but they're processing applications

Great to hear! did you also need the tenants to apply and do their part to get paid or were you able to bypass that if they were uncooperative? Also, the checks from the program were made and sent out to you directly correct?

Tenant and I both applied. I received an email asking about the rent owed. Tenant got a call asking about situation. Third party lawyer group that interviewed us applied to the county program. Check received was mailed and made out to me

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All Forum Posts by: Derrick Dill

Derrick Dill has started 10 posts and replied 305 times.

Post: The FHA Low Down = Higher Payment?

Post: How to have renters bid (or suggest) a rental amount?

Post: Does Cash Flow Increase as Rents Annually Increase?

Post: Buying a property with a tenant not paying rent

Post: Buying a property with a tenant not paying rent

Post: Roaming House Hacking

Post: How Can I Finance My First Deal?

Post: Tenant threatens to sue me for $20 000

Post: Why so many corporate headquarters leave California for Texas?

Post: California rental assistance (bay area)... RECEIVED