All Forum Posts by: Reginald Vaughn

A tenant has abandoned his trailer on my land in West Memphis Arkansas. What can I do to claim the trailer? The owner is currently living in a facility and the son was suppose to come and move the trailer but that has not happened and I don't want to pay to have it removed. 

@Carlos Ptriawan Thanks and I agree. Nice home to live in and not invest.

@Elin Trinh

Thank for the response. No special rules but I agree with most on my post the taxes and Hoa cut into profits

I live in the Houston Area and debating on buying a new construction home for rental purposes. We have a lot of single level, new homes under $220K that fit this category. What are the drawback to purchasing new construction for Rental as oppose to buying a home to be rehabbed for the similar price. 

Go Dailycourtreview.com

Thanks Joe! I am just awaiting the seasoning period to end to really start working with these banks. We have had conversation, but have another month to start the process.

Jassem - That's a wonderful idea. I will look into some home equity products as well.

Joshua,

Thanks for your reply! I do have a few banks lined up to complete the refinance. But when you make mention to using the home as "collateral"...., I was thinking of using the cash out to purchase my next property free and clear. Please explain more   

Hello BP Family!

I just finished the rehab on my first property and I am wondering should I refinance or not. I originally paid $6,000 (3 Beds/1 Bath/SFH) and put roughly $15,000 into it. I am debating on refinancing it, and pulling out between 65% - 85% LTV. The home should reappraise to between $45 - $60K.

The questions I would like help with.

1. Should I refinance and pull out the cash and continue to reinvest in other properties?

or

2. Just rent the home at $900 per month. And look to use these funds to purchase my nest property.

**In both scenarios the home will be getting leasewd. As I plan to hold this property.  

thanks Beau Ryan...I'll keep that in mind