All Forum Posts by: Jonathan Styer

@Jay Mersfelder I would reach out to them ASAP and let them know how you're feeling. They will be able to help you more than anyone here. 

Hi @Justin Phillips, what is the "Life Changer Loan"? Thanks!

@Nick Sandoval I always tell folks, what would you do with the money from the sale? If I were in your shoes I would consider investing out of state if you can get that kind of cashflow elsewhere for less equity in the property, you're increasing your return. Columbus, OH has great cashflow and appreciation. 

@Yenika M. welcome and congrats on beginning your journey! Your first steps will be getting preapproved for a loan and finding a Realtor who knows real estate investing. Best of luck!

@Jay Mersfelder are you working with a Realtor? This is going to be completely contract specific so without further information folks on here will not be able to help you. 

Seconding @Dave Poeppelmeier. Evictions are happening as normal here in Columbus if not based upon non payment of funds. Holdover tenants or violations of lease terms are not covered under the CDC moratorium and are treated as normal evictions. It is most important choose the right reason for eviction on the front end when notifying the tenant and then you must stick to that. 

Speaking for myself, if I were in Tennessee and you explained your situation to me as a Realtor I would be happy to connect you to a lender who could help you. I know what you're saying that Realtors like to work with folks that have funding lined up, but leading them there is also something we will do as it is really not a tough job connecting folks to people in your network. Good luck!

Here in Ohio the best way to do this is a quitclaim deed. You would use a title company to do this and it is pretty painless. I would reach out to your favorite title company and tell them what you want to do, they most likely do this every day.

Hi @Katie Robillard, I am not familiar with Tennessee but here in Ohio it would not be an issue. Are you thinking of doing a cash out refinance and then using cash to buy in Tennessee? Either way would be possible, but if you're looking to finance the new property, your best bet will be to find a local lender to help you in Tennessee with financing. Try to hook up with a Realtor there who is familiar with investors and they should be able to point you to a lender that can help you. 

Good luck!

Hi Nathan,

In my experience this will not really matter for a refinance, you'll be opening yourself up to a huge potential can of worms. I would just go for it and see what happens with the appraisal. 

Best of luck