All Forum Posts by: JayCinta Henry

Handed a house to Knox Financial to rent out, located in burbs just outside of Dallas TX. It's going on 2 months vacant. Knox has lowered the rental asking from $1850 to $1750 but we have even less traffic past week.

I need to take drastic measures to assist to locate a good tenant. The house is on MLS, hence Zillow, Rentberry, etc.

What creative ways can you share to find good tenants, fast?

 Great suggestions, appreciate that.

We are actually in heloc app process with pendfed on two properties-45days to close, seems like forever. I just didn't want to not get 15k if I can cos why not, it pads credit lines. The loan is actually with PNC. I will reach out to them. Again thanx! 

EDIT

We have our rentals' conventional mortgages separately that way we don't tie a lot of debt together. Is there an advantage to me as an investor, to apply heloc separately from my wife, and her applying on her own, or is it better to apply jointly, such that it doesn't matter on helocs?  

What an infantile hissy-you actually hit send on that? As many cars as are financed in the 10-15k range or personal loans, why haven't you gotten banks, CU etc out of that business? Nevertheless, accept my deepest apology for not being worthy of your pecuniary consideration.

Talked to Penfed but they said their minimum heloc is 25k, my rental came in at a possible 15k. Do you guys know of any institutions that can go that lower?

Previous owner had ceiling light fan combo powered from a receptacle. There's a normal, light switch by the door. So I expected when I pulled down the fan to find a hole and a lead, but there was nothing. Ceiling looked new. Well!
The issue is the ceiling is vaulted type, no attic access. The only way I see this working out is to put such as a Raceway non-metallic PVC surface mounted on the wall, from the light switch, up the wall to the ceiling, along the ceiling to a position of choice. Is this code compliant to pass city inspection?

or how else can a solution be accomplished here?

Location Balch Springs, Dallas County Texas.

Wiremold Non-Metallic PVC Raceway 5 ft. Wire Channel, White

My buddy told me that even if you have bought a property before, that if you are buying a property after more than 2+ years you can be eligible for 3% down benefit, just like a first time home buyer. True?

If you are buying a second home, one year  after house hacking the first one, what is the percentage down requirement, 10%?

Hey, did you get around to doing this? Any update on your progress so far?

Bump

Bought a BRRR house hack as a primary. Plan is to house sit for one year, move out, turn it into a rental and repeat. I need to bring in two roommates. How do you do that? Do you get a roommate agreement? Do you run their rental and background checks, etc?If so how do you actually do that? Is that all?

One more question. Last December I closed on a primary house. That month  was a grace period, didn't pay a mortgage. For my personal federal filing I can deduct closing costs? Including foundation repair? Bank insisted on this before funding. The contract was amended to incorporate the cost of foundation repair into the total house purchase price. I do have the repair invoice.