All Forum Posts by: Jennifer Jordan

You can do this with Tenant Cloud. I was able to get bank statements, paystubs and driver's license copies.

 Will you send that to me as well, please? 

Yep. This is called "uncapping". When you purchase a home, you get the benefit of paying taxes on the previous owner's taxable value. The following tax year, your taxes are uncapped. This means that the taxable value is increased to match the assessed value. 

Let's say you bought a house in 2019 and the taxable value was $100K and the assessed value was $150K. At the end of 2019, the new values are set by the Assessor for the next tax year. So if the Assessor (by using some complicated calculation) gives your property an assessed value of $165K, your taxable value will also be set at $165K for the 2020 tax year. As long as the property doesn't change hands via a bonafide sale, it will be capped again for the 2021 tax year (limiting the amount that taxable value can increase).

I get a lot of calls to my office asking why their taxes have increased so much the year after they purchased the property. Some people are literally in tears when the get their tax bills.

Congrats!!! That was a very nice outcome! Are you the same Eric who works with JB? I didn't want to mention his name here because I don't know either of you personally.

@Joe Prillaman You said that your fastest refinance was 10 weeks. How were you able to refinance so quickly? Were you able to pull out purchase price plus rehab costs? My lender is telling me 6 months if I want to get that back out (purchase plus rehab). Thank you for sharing! And thank you for coming back and answering questions. Sometimes people post about how great they did and then you never hear from them again.