All Forum Posts by: Kent Verge

That's a lot of detail @Evan R. Just curious: how/where did you find the info (I'm interested in other areas)?

I don't know what it's like in Georgia, but the costs for small claims court usually are pretty low. I found this in Google: http://www.dekalbcountymagistratecourt.com/civil/file-a-small-court-claim.asp  In DeKalb county, it's $51.50 + $15 per defendant served.  I'd do it for $2k...

File a civil suit to go along side the criminal charges. Assuming they aren't broke, you may get a judgement against them.

I second @Raymond B. 's suggestion to use a HELOC if you have the equity. You'll get better rates than a HML and you can use it again later after paying off the initial draw. Some HELOCs, like one I'm looking into at Navy Federal, remain open for 20 years.

If you don't have the equity for a HELOC, then you probably can't use it for collateral anyway.

I used to print small lots of postcards at Office Depot (4 to a sheet on 11x17 cardstock). Then I'd mail-merge the addresses on my printer using a handwriting font in blue ink and cut them apart myself. It's probably not the most cost-effective method, but it worked well for small batches when starting out.

Paraphrasing Dr. Thomas Fuller, get the numbers, or the numbers will get you. And when you get them, get them right, or they will get you wrong.

Thanks @Mehran K. I'll have to make sure we find out the payment structure too. 

I dug into the terms and see that the 3.99% only applies at 70% LTV; it goes up to 4% at 80% (don't know why you'd do 3.99 vs. 4), 4.5% at 90% LTV, and 5% at 95% LTV.

Even so, the low interest and no closing costs make this a pretty sweet deal.

While searching for options for an HELOC, I found this deal at Navy Federal Credit Union.

• 95% LTV (less any existing mortgage) for personal residence; 70% for investment properties
• Rate as low as 3.99% depending on credit; .25% rate discount with direct pay
• No closing costs as long as you keep the line open for 3 years; it stays open for up to 20 years

You can see the details on their website. You do have to either be military or family to have an account, but it's worth it for those who qualify.

One negative is that closing takes 45-90 days (at least according to their loan agents). Even so, it could be a great source of funds from current equity once you get it opened.

If one does not know to which port one is sailing, no wind is favorable.

-- Seneca 

I do this all of the time once we start negotiations: "What if I offered $X all cash, or offered $Y with the owner carrying (some percentage)?"  I don't think this is what you mean though...