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All Forum Posts by: Mary lou L.

Mary lou L. has started 66 posts and replied 359 times.

Post: rehabber success or major fail??

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

That is really cool looking! I bet that would look great inside too!

@John Shultis

 I understand..you can't be too careful these days!

It was a privilege serving, I learned so much and am thankful for the opportunity! 

Originally posted by @John Shultis:

ooopppsss!  Sorry, on the post above with the first words "The URL below..." you have to remove the quotation marks at the beginning and end of the URL or it won't work -- i.e., this will work:

To make the url "Clickable" Click on the little symbol that looks like a link in the reply box. Click insert link. Then make a title and then paste the link into the second area. Click insert link.

2015 VA Loan Limits

@Mathew Deines

  Thank you so very much for sharing your story! I too am a vet and am looking for my first multifamily!

You said your DTI was 58% how did that work specifically? I thought they wanted to see less! Did they calculate the rent with the increases, or was that with the existing rent at 75%. Do they subtract the taxes and insurance and then use 75% of the rent?

I have an existing rental and wanted to use the income but wasn't sure how they add it into the DTI picture.

Thank you! And best of luck on your next investment!!

Post: 115.94 Exchange-a-Blade 2100005 9-Inch Laminate Flooring Cutter

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

This is on Amazon.com (hopefully I can post this!) I bought one a couple of months ago (paid about 20.00 more) along with the tapping block, the pull bar and the spacers. Didn't use the spacers as the drywall was up a little far and the spacers kept falling into it. I just used scrap pieces of wood for the spacer.

http://www.amazon.com/Exchange---Blade-2100005-Laminate-Flooring/dp/B00B0BYY4Q/ref=sr_1_1?ie=UTF8&qid=1438470192&sr=8-1&keywords=exchange+a+blade

Easy to use and made the job go fast! You just need a saw for the length wise cuts!

I have no affiliation with Amazon.com.  I just order everything from them! LOL

Post: Refinance vs. Purchase

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

@Jake Maughan

 So how did things go?

Post: Ugliest Multi-Family ever?

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

I think it would be nice to add some colorful awnings for the windows! They would add color and function. Lots of rocks some boulders and a few drought resistant plants, and maybe a bit of fake grass here and there.

Congratulations on your purchase I look forward to the after pics!!!

Post: Homeless Issues

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

My boyfriend heard a story about a church in San Francisco that installed sprinklers in the doorway to keep homeless off the steps. It seems there was a back lash (along with permits needed and watering restrictions) and they are going to remove them. There were  homeless that still stayed though, using raingear to keep the water off!!

Don't know if sprinklers will work in your area.

The skunk spray idea in the dumpster sounded pretty good...along with locking it.

Post: Rent

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

If you live close by, drive through the neighborhood and give a call on any "for rent" signs you see in yards.

This also is a possible lead for driving for dollars!!

Post: Month to Month Lease or Kick Them Out!

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

If they are good and pay on time why kick them out? Just because they are actively looking to buy?

They would have to give you notice just like any other tenant (many reasons why they move)

I would continue business as  usual until I get the notice from them that they are moving.