All Forum Posts by: Isiah Ferguson

@Brian GarrettWhy wouldn't the BRRRR with your own personal money ? rather than OPM

@Isaac S. Thanks, I'll definitely check it out. 

I purchased a property and inherited the current tenants. She been late 3 different times and which make today the 3rd time because she haven't paid. She receives a disability check I believe which is suppose to pay for rent. She says the funds doesn't go on her debit card until the 3rd of each month which is understandable. That still give her a 2 day grace period too pay between the 1st and the 5th. Today her excuse was she lost her card and they suppose to send her a new card and she willing to pay her 30$ late fee. I'm a understanding person but This is her 3rd time being late. I told her She will receive a letter stating this is her 3rd time being late and there will Be a deadline to pay for this month and if She doesn't pay by the deadline I will have to proceed with court actions. I planned on sliding the letter under door Monday morning and her deadline will Be Thursday. I don't have a lawyer in place nor I never deal that with court precedings. Any suggestions is greatly appreciated. Thanks !!

Lima One Captial is an investor friendly bank. They don't mine if your properties are under an LLC. LTV can be between 70 - 80%. The only down side to me is that the rates are between 7% - 10% 30yr fixed depending on your credit score. If the numbers work for you, it could be a good thing.

@Dan Mackin i have a family but now that I think about it in my circumstances it wouldn't be house hacking because I'll just be paying down a mortgage instead of paying rent. At what bank can I find those programs ?

Hey, I'm currently renting and looking into getting in a SFR to purchase. Would it be considered house hacking if I buy a SFR and stay there for 1 year or 6 months move out and rent the property. Then ill move on to the next house to purchased so on and so fourth. or should I just get a multi-family and live in 1 side and rent out the other. ? The reason why I'm considering SFR is because my W2 JOB is a little above minimum wage. I have reserves but their really not value to traditional to take advantage of the FHA loan, correct ?

How ironic, tenant called a few hours ago saying their sank & bathtub are clogged. I was feeling a little weird doing my first inspection but this make this situation even sweeter now that they need a minor problem fixed. I'm not going to go with my prior handyman who's charging me $100. I reached out to another guy that I haven't work with yet and he said he'll fix the issue and do the walk through for $50  

Thanks @Phil Weiler. That is completely understandable.

Thanks for all you guys feedback. I have put a notice together to inform the tenants I will be doing an inspection and will slide the notice under their door tomorrow morning. Also I create a checklist for the actually inspection and I will be bring my handyman too oversee. I'm already too go. Thanks again

@Vern M. He's already charging me $100 to walk through. So I'm guessing if I have him change the HVAC filter, clear the drains, flush boiler etc. I'm expecting to pay more ?