All Forum Posts by: Prasad J.

There's a helluva deal in Everett currently on MLS

Multi lot property with 13 units total for $750k. I think it's 5 studios and 10 - 1 beds. Obviously needs some work as reflected in price. But in the location it is in Everett a studio should rent for about $800 in mediocre condition, 1 bedrooms about a grand.

If you search redfin you'll find it easily.

@Nate Bartow

The only way I've done the seller financing of a second mortgage is with small local banks where it's a commercial and portfolio loan.  And I had a good relationship and history with the bank. And good credit.

In addition, I had to have the downpayment up front from my own funds.  When we closed and the second mortgage was done, I was then reimbursed my downpayment funds (not all of them - it was 25% down and then the seller did 15%, so I was effectively in for 10% down).  All of this had to be fully disclosed and approved by the 1st mortgage lender.

It can be done, but I believe commercial loans and portfolio lenders are the key.

Good luck!

- Tom

I've got a HELOC at 90% LTV at 3% and a $75 annual fee. I got $46,600 and used it flip a house.

Is the garage door repaired yet?  Repair it, then give him the bill, give him option of payments to fix the door 30/60/90 payment schedule. Take photo's of damage before any repairs.. 

We had large complex with row type garages, it's hard to prove a exterior dent or ?? if others use the driveway.. not sure what your damages were but maybe it wasn't caused by tenant 

Notice to move on if he doesn't comply.. and if he's not out then court. 

I would not give cash for keys that's I'd let the court system run it's course before doing that.

Fix it and send him the bill. once his lease ends take it from the deposit. OR you can offer him 'cash for keys' to vacate the unit within a given time. This is dependent on him cleaning the unit, not damaging the unit and vacating completely 

Good luck