All Forum Posts by: Account Closed
Account Closed has started 16 posts and replied 62 times.
Post: How do investors get loans for properties in poor conditions?
- DFW
- Posts 62
- Votes 27
Quote from @Jacob Sherman:
Yes absolutely . Can do a fix and flip loan with no income and no doc. What do some of the scenarios look like that you are working on ?
Post: How do investors get loans for properties in poor conditions?
- DFW
- Posts 62
- Votes 27
Quote from @Simmy Ahluwalia:
Shivani, these are hard money, short term bridge loans allowing you to improve the property for either sale or rental. Once the property is "sell or rent" ready, then you can refinance into long term debt if you plan to hold it.
thank you for the advice! Also, I have read that lenders don’t like loaning on properties with liens. When refinancing, Would lenders have an issue with a hard money loan in place?
Post: How do investors get loans for properties in poor conditions?
- DFW
- Posts 62
- Votes 27
I’ve read countless times that residential lenders will only loan on properties in good conditions. How do investors get loans on value add deals? Are commercial loans more lenient?
Post: Should I allow inflatable pools and a trampoline?
- DFW
- Posts 62
- Votes 27
Quote from @Kim Meredith Hampton:
Shivani
Take a look at your landlord policy and see if these things are covered. Most policies that i’ve seen over the years don’t cover trampolines, so we are always asking for them to be removed when we discover they are on the property. If some child gets hurt, they will almost always come after you too, even if the tenants have renters insurance.
Post: Should I allow inflatable pools and a trampoline?
- DFW
- Posts 62
- Votes 27
Quote from @Bjorn Ahlblad:
We ban them, but gotta' ask. Is a trampoline really that much worse than a swing set?
I would say there is a lot of liability with pools and trampolines. Especially trampolines, I’ve read that insurance companies ban them in the policy due to a lot of claims.
Post: Should I allow inflatable pools and a trampoline?
- DFW
- Posts 62
- Votes 27
I own a single family home and have tenants that have stayed for two years. I recently made them get renters insurance. They are asking if they can put up an inflatable pool in the summer only. Also, they asked if they can put a small trampoline. Location: CA
Post: Tenants say lease does not apply and won't sign.
- DFW
- Posts 62
- Votes 27
Update: I spoke with CAA and an attorney and they said the lease is perfectly fine to use for single family homes. Tenants were informed. Thank you everyone for the help!
Post: Tenants say lease does not apply and won't sign.
- DFW
- Posts 62
- Votes 27
Quote from @Russell Brazil:
Well is what the tenants saying is true? Did you read the lease?
I don't see anything on the lease that would exclude a SFH. They are saying because it is a lease from the apartment association group, it does not apply. The lease is general and has a title that says month to month lease agreement.
Post: Tenants say lease does not apply and won't sign.
- DFW
- Posts 62
- Votes 27
Quote from @Matt Devincenzo:
Then don't rent to them. Seems simple if they don't want to sign, then this tells you the problems you're likely to face in the future.
Post: Tenants say lease does not apply and won't sign.
- DFW
- Posts 62
- Votes 27
The lease is a month to month agreement used from the california apartment association. The tenants are saying it does not apply to single family homes like the one i am renting. Or single family dwellings.