All Forum Posts by: Guifre Mora

Hello I rent a townhouse in Georgia, my landlord has refused to fix the heating and ac unit . The leak in the roof that we have had since October. Due to the leak we now have mold. I had someone come inspect it and yes we have mold . Can I with hold my rent money ? The lady the is in charge of the neighborhood told me the reason I was added to the list so late is cause she wasn't pay her HOA fee. What can I do ?

Hey everyone! I'm a brand new investor and I purchased my first property about a month ago,which is a suited house, and we are just finishing up the renovations and are in the process of getting it rented out. I'm looking for my next deal, but I don't have any capital of my own since it's tied up in my last property still, and I won't be able to get any out until I refi in 5 years, because I didn't use the BRRRR method for this one, so I managed to get my hands on a private lender who is willing to fund my entire project, with that being said, I'm trying to determine if it is better to use them to purchase the property and pay for rehab, etc. OR if I should just use them for the down payment & rehab instead, because obviously interest @ 10-15% on 50k - 80k, is a lot lower than 10-15% on 250 - 350k. Thanks everyone!

Hello everyone!

Any information would be helpful.

I’m looking at a property where it was appraised and listed for 52k but since the the corona virus they have been lowering the price significantly to 36k buy price, the home needs some work. Would you be able to get a loan for the appraisal value and use the difference for repairs etc?

Thank you!

I have a tenant that has managed to piss off everyone in HOA. He always pays on time so there is no problem there. But he does not care much for social norms or cameras in the building and keeps doing things that are either violation of CC&Rs or bothersome to HOA and neighbors.

Previously HOA would give me a verbal warning but his latest violation was caught on camera and they sent me a written warning. In the letter, they said that would start issuing fines for every future violation.

Is there a notice that I can give my tenant, that would say that he is responsible for future fines issued by HOA? 3 days notice wouldn't work because he probably not going to commit the same violation but it would be something else.

@Guifre Mora thanks! What do you look out for when deciding if a garage or basement has potential for building a room?

Hi. We are looking to refinance our condo that we use as a rental property. We currently pay 1288 for our mortgage and it has a horrible interest rate 6.25%. We get 1600 for rent, and after our hoa fees - 550 we end up at 1838 a month or 238$ a month out of pocket. our refinance options are a 15 year fixed where our payments would be 1300 (total payments 1850$). So lightly more out of pocket but we pay off the loan in 15 years. If we do a 30 year fixed would be about 800 (plus 550 HOA total of 1350). Our thoughts are that we would put the extra $250 a month from that scenario back into the mortgage to try and pay it off in 18/19 years. I know this isn't a cash flowing property, but we are in NYC and there has already been an 80,000k appreciation on it...we are sort of hoping that long term the appreciation would make this worthwhile. Anyone have any thoughts on this? The mortgage guy thinks we are crazy if we don't do the 15. I think, since that will cost us a bunch out of pocket that it makes less sense for us. Not sure though...new to all of this!!

What was everyone’s first real estate financing plan, I am almost 20 and wanting to get started, wanted to know everyone’s opinions and experiences for financing.

Looking for a recommendation for a lender in Ohio, specifically in Cincinnati?

 I am planning to refinance my investment property. Any advice and recommendations are highly appreciated.