All Forum Posts by: Kay Hart
Kay Hart has started 4 posts and replied 7 times.
Post: Ramifications of not paying off your mortgage balance
- Posts 8
- Votes 5
My loan term expires in November. What happens if I don't do either by that time. I just want to know. I am in process to get the balance paid off.
Post: Ramifications of not paying off your mortgage balance
- Posts 8
- Votes 5
Interesting!
Post: Ramifications of not paying off your mortgage balance
- Posts 8
- Votes 5
What happens when your mortgage matures and you have a balance? Do you automatically go into foreclosure.
Post: Question-Can you run criminal on minor
- Posts 8
- Votes 5
What range are you thinking 16-21. I will be a little leery of a 16 year old to begin with. How are they able to afford your rent? Shouldnt they be in school. What about credit?That would be a hard no for me considering them as a tenant.
Post: Long time tenant but it's time for an increase
- Posts 8
- Votes 5
I have a husband and wife tenant who has been renting for us for over 6 years at the same rent. It is however time for a rent increase.
I know they will not be happy, But rents in our area has skyrocketed and even though I want to be nice to them I have to be fair to me as I know I can get a 50% increase if they were to leave the apartment
Any ideas on how to approach this subject.
Post: Seeking information on this
- Posts 8
- Votes 5
I have a multi family and I wondering if I should sell and downsize. I really want to increase my real estate portfolio but debt and credit score are hindrances. I have ideas on what I want to do but I need direction and guidance.
Post: A place to live instead of a wedding ring
- Posts 8
- Votes 5
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $160,000
Cash invested: $200,000
We got married and needed to find somewhere to live. Our landlord at the time advised us to purchase.
What made you interested in investing in this type of deal?
We were starting a family and wanted a property where if we became unemployed it would still pay for itself
How did you find this deal and how did you negotiate it?
There was a posting in the newspaper.
I called the owner who was a flipper and we struck a deal we did not even have the full downpayment but he made a separate deal with us where we paid him cash for the deposit.
How did you finance this deal?
WE got a mortgage
How did you add value to the deal?
My husband is quite handy so he was able to do the renovations and maintenance
Lessons learned? Challenges?
Visit your property prior to purchase if you can during bad weather.
The day we closed it rained and the rain poured through the roof in the extension.