All Forum Posts by: Harish M.
Harish M. has started 5 posts and replied 14 times.
Post: Tenant Signed Lease, Paid Deposit, Now Wants to Cancel - Seeking Advice
- Posts 15
- Votes 8
I'm dealing with a tough situation and could really use some advice from those with more experience.
I had a new tenant sign a lease for my property. They paid the security deposit and rent was due at move-in. The lease was fully executed and signed.
Then, he said he will move in after 10 days. On day of move-in they reached out and said they found another (free) place and want to cancel the lease. Since the move-in date has passed and they are technically in breach of contract, I believe I am entitled to the rent and other fees as per the lease terms.
I'm looking for some guidance on how to best handle this.
- What are my options here? Should I proceed with a Notice to Pay or Quit?
- How do I handle the security deposit they've already paid? Can I use it towards the missed rent?
- Does anyone have a referral for a good landlord-tenant law attorney in WNY area?
Any advice or similar experiences would be a huge help. Thanks in advance!
Post: Need Lender Contacts for DSCR or Conventional Mortgage
- Posts 15
- Votes 8
Quote from @Jeb Durgin:
Hey Harish — saw your post and had to jump in before your inbox gets buried with cookie-cutter lender pitches.
I'm a lender who actually works with investors (read: I speak fluent ROI, closing timelines, and "please don't send me another 80-page doc checklist"). DSCR or conventional — I can walk you through both and help figure out which one gets you across the finish line fastest and smartest.
I move quick, work with out-of-state investors all the time, and don’t disappear once the deal’s in escrow. Think of me as your financing co-pilot with better jokes and less paperwork.
Shoot me a message — let’s hop on a quick call and make this deal smoother than a rent check on the 1st.
Hi @Jeb Durgin, just sent you an email. Please have a look when you get a chance
Post: Need Lender Contacts for DSCR or Conventional Mortgage
- Posts 15
- Votes 8
Quote from @Simmy Ahluwalia:
@Harish M. - reach out and provide the property details and we can price it out for you.
Hi Simmy, Sent you an email with my details. Please have a look when you get a chance.
Post: Need Lender Contacts for DSCR or Conventional Mortgage
- Posts 15
- Votes 8
Quote from @Alyssa Lake:
Post: Need Lender Contacts for DSCR or Conventional Mortgage
- Posts 15
- Votes 8
Quote from @Jessica Fletcher:
Hello, Harish! Magnetize Funds provides quick and reliable real estate funding to get your project moving. Let us know in what state is the property located. DM us now! (626) 737 2921
Hi @Jessica Fletcher, Sent you a DM with my details. Please have a look when you get a chance.
Post: Need Lender Contacts for DSCR or Conventional Mortgage
- Posts 15
- Votes 8
Quote from @Jordan Moorhead:
@Harish M. we move quickly and can can do both conventional and DSCR, whatever works best!
Hi Jordan,
Sent you an email with my details. Please have a look when you get a chance.
Post: Need Lender Contacts for DSCR or Conventional Mortgage
- Posts 15
- Votes 8
Quote from @Erik Estrada:
Quote from @Harish M.:
I'm currently under contract for a single-family home (SFH) investment property and want to try other lender other than my current one. I'm interested in securing the best possible rate, either through a DSCR loan or a conventional mortgage—open to both options depending on what works best.
If you’ve had a good experience with any lenders recently (especially those working with investors), please let me know.
Bonus points if they can move quickly and work with out-of-state investors.
Thanks in advance for your help!
Hey Harish,
What kind of terms are you seeing so far?
Hi Erik, Sent you an email with my details. Please have a look when you get a chance.
Post: Need Lender Contacts for DSCR or Conventional Mortgage
- Posts 15
- Votes 8
I'm currently under contract for a single-family home (SFH) investment property and want to try other lender other than my current one. I'm interested in securing the best possible rate, either through a DSCR loan or a conventional mortgage—open to both options depending on what works best.
If you’ve had a good experience with any lenders recently (especially those working with investors), please let me know.
Bonus points if they can move quickly and work with out-of-state investors.
Thanks in advance for your help!
Post: Got a Flip deal but seller is concerned about huge capital gains. What can be done?
- Posts 15
- Votes 8
Quote from @Peter Mckernan:
Quote from @Harish M.:
If you close in the same year, then there is no savings to the seller. But if you can delay it since it is a flip, close later this year, have him/her hold a note for $500K, and fund the rest with a HML/Loan. You can sell next year and he would get hit with the rest of his taxes. It would spread the burden between two years versus one year for the seller. This is not a huge saving for him but could give him relief to not get hit with that amount of taxes all in one year.
I see. If the total tax would be same paid in two years vs single year, I think he won't budge to sell. I need to offer something where he can save his taxes somehow.
Post: Got a Flip deal but seller is concerned about huge capital gains. What can be done?
- Posts 15
- Votes 8
Quote from @Obed Calixte:
Why is seller against 1031 exchange?
Bad experience? Lack of knowledge of the process? Wants some cash out the deal?
based on the limited info shared, 1031 may be in their best interest if they are truly looking to sell.
He is 70+ and just doesn't want to handle another real estate, that's why.