All Forum Posts by: Jimmy S.

Would you sacrifice $200 a month cash flow on 1 property for $30,000 cash out refi? 

The property would still cash flow but would not be making much then if I cashed out max. Rate would be around 4.7 fixed 30 year. 

 I think and would like to keep it the way it is, but she insists that she wants him off the lease though and she is a good tenant. Your right, I don't see how I would benefit anything if I were to remove him.

Just wondering if any landlord turn off  / do not answer phone calls after a certain time at night like 9pm and all calls wait till morning

I shut my off at 9pm till 7am to try to give my self some stress free time or is that a bad idea since if something major goes wrong over night they cannot contact me, but I dont want to get minor calls at 11pm or 4am to deal with.

Just wanted to see your opinion or thoughts?

Couple moved in 4 months ago, they split up. He already left the premsis 3 weeks ago which I had no idea. She called and let me know and is going to be staying and paying the rent and wants him removed from the lease.

Does he have a sign the removal of him on the lease agreement? Hes already gone and not sure how to contact him, also what happens to the joint security deposit it just rolls over to her?

update

THEY ARE GONE!!!!!!!!!!!!!!!!!!!!!!!! boy it has been a crazy ride. They left today and locks are changed.

Time to fix all the damage and move on. Thanks everyone for all the help and support along this painful, stressful, emotional roller coaster ride.

I have learned ALOTTTT and looking back now I would have done things so differently now and if I ever have to deal with this again I will be prepared.

 I checked with their landlord and verified and contacted both their employers. Everyone said good things about them, go figure.

I will update everyone tomorrow and let you know the outcome......

 that's what I was thinking also but am so mad at them for screwing me over and all the stress and aggravation and money they cost me over the last 3 or 4 weeks. 

Guess I can just consider it a win IF they leave tomorrow.

update

hopefully if ever thing goes well they will be gone tomorrow night. I will be giving there security back minus the water/sewer bill. $1000ish

We have a signed contract stating that the front door and carpet upstairs needs to be fixed in order to get their security back (well they blackmailed me which might not be the worst to get their security back) Well I highly doubt they will fix it, but I want them gone. Is it worth saying anything to them that I will need to hire some one now and take it out of there security. If I piss them off more.... they might just not leave and make me follow threw with the eviction and get another 3 or 4 weeks for free rent.

Would you mention anything and try to get some money back or just be glad there gone and forget about it. They cost me thousands so not sure if its even worth it for a couple hundred bucks to complain about...

I went with Susquehanna bank and liked them. Make sure you shop around and get closing estimates. Some banks fees/closing fees are alot higher then others.

yes its 75% loan to value on investment properties. I just did a cashout refi 30 year fixed at 4.5%. I did alot and alot of shopping around but its hard to find a bank or credit union who is willing to do a cashout refi on investment properties. All were pretty close on rates/within .50% of each other. Must have checked 10-15 credit unions and banks but only a few would do a cashout refi on investment properties.