All Forum Posts by: Oscar Chirinos

Thank you gentlemen yes i am just waiting to find out about the refi waiting period at this point =)

Hello guys quick question, if i use a Heloc to finance the BRRR strategy, is it true some helocs do NOT allow you to use the funds for rehab or closings costs, and if they do allow it, is there a waiting period for refinancing out of the loan to move onto the next one? like 6-8 months? i thought a heloc was treated just like cash, i keep reading mixed replies on the forums, im confused =(

thanks so much all!

Hello guys quick question, if i use a Heloc to finance the BRRR startegy is it true some helocs do NOT allow you to use the funds for rehab or closings costs, and once im done with the first one and want to repeat that onto another property, that there's a waiting period of 6-8 months? I thought helocs were treated like cash, so id have the flexibility of refinancing and getting hoopefully all the money back assuming deal is perfect with remodeling costs at the ltv value of course. just wondering thanks so much!

Hi BP FAM!  Quick question.

This is for salt lake county, UTAH

How many days ahead do i have to notify my tenant in writing if i do not plan on renewing his lease and that he has to leave? His lease expires on January 1st 2018. Also do i just post it on the door? And if he doesnt leave by then is an "unlawful detainer" i can begin the eviction correct?

Thank you!

Thank you Matt,

Well i guess that's a very good point, 

one cash flow is great and for two multi-units are quite low in stock =( deals come deals go that is true, but im just doing some extra due diligence work. thank you so much for the input though!

Hello BP Family, so im in the middle of closing in a multi-unit in salt lake city Utah and I just got the meth test results back "Salt Lake County currently uses 1.0 ug/100 cm2 or higher as the decontamination standard for any mitigation action for a property. The levels found at this home were OVER with a reading of 27.0ug/sample (about ten times the limit deemed safe)."

what should i do?

Im thinking of backing out, since im not sure if even if i was to remimdiate it if im legally now obliged to disclose it every time. Unless i get an amazing discount im really not sure where to go form here. I am just getting cost estimates for remidiaiton.  

thanks so much guys!

good point! ty

Hello BP Family, i was searching for any posts in regards to Fake grass on rentals to save on maintenance, I was actually looking at this option, has anyone tried this before or currently trying this? I had heard some landlords here in Utah were trying something like this on some rentals so just curious.

Oscar

Thanks so much Jon! There's been a few months before where he never paid his late fees, but i was just planning on taking them out of his deposit since I've been managing out of state however i found out through a recent inspection hes been trashing the place so i just want him out at this point. Would i also be able to add ALL late fees at this point from previous months, or just most two recent ones, he's been in the unit sine January 1st of this year. I should have put on the lease that every-time i send someone to serve him the 3 day pay or vacate is a $50 charge but i didn't (well you live and you learn i guess). Assuming he pays a partial amount, after the three day period is up do i need to put another 3 day pay or vacate notice or can i go ahead with the eviction from this point on,  and if i go ahead with the eviction on 3 days after notice, do i have to send him a statement with whats owed at that point or the attorney handles everything else from there on. I should have put on the lease that every-time i send someone to serve him the 3 day pay or vacate is a $50 charge but i didn't (well you live and you learn i guess).

Hi all i have a question.

So one of my tenants is a pain in the ***, and he always pays late, i'm just sick of him, but last month he didn't pay his late fees and he is late again this month. Do i have the right to stick the late fee from the month prior into the 3 day pay or vacate notice and if so, assuming he pays the rent and one of the late fees or the rent and NO late fees. could i still proceed with an eviction at this point for not paying the full amount? This is in Salt lake county Utah by the way

Thank you!