All Forum Posts by: Stewart VanValkenburg

I know about the quiet title. The other option is to hold it for 7 years. I can see why most lenders shy away from these. But to my understanding the same actions you do for a quiet title the county does before the sale, make an effort to find the original owner and post a notice in the local paper about it for a month or so. So I would just be repeating it. 

@Logan M. You do need to purchase cash, but sometimes it's a day to a few days later. The one I was really interested in ended up going for 350k. It was worth much more than that. I don't know about you buy my credit card doesn't go that high.

Looking at tax sales, some of them seem like really good deals but I only have so much cash. Are there any hard money lenders that lend for this sort of thing? I'm not expecting the same kind of terms as for a flip but I'm curious what is out there as far as terms for % down, ect. I'm looking at stuff in Utah, it's mostly land, houses tend to get redeemed before the sale. 

It looks like you are buying the real estate as well. If you weren't and were leasing the property laundromats are typically valued from 3.5 to 5 times the net income for a year. So 4800- 3200+payment to seller(1300)=2900/month or 34800 a year cashflow. Since it's older probably closer to the 3.5 multiple so 3.5x34800=121,800. Is the real estate worth 180k?

I'm down in the Springville area but I just finished a flip by Brigham city. I've a got a great handyman who's ready for work. Send me a pm and I'll send his contact info.

I am curious,  what did you decide to do? 

Working on my 3rd and 4th flip for this year. I have 2 out of state rentals and one one in state duplex in Sprimgville.

I'm curious about this, @Barrett Anderson. How'd it go? What did it end up costing you? How long did it take?

Got a call yesterday from the cops about an altercation at one of my properties. That was a first. Turns out my property manager was trying to get one of my tenants to pay some of their back rent. The tenant pulled a knife on him. Another tenant saw this and punched the knife weilding one in the face and took the knife. Then the previously knife weilding tenant called the cops on them for trespassing... Can I evict them for this? The property doesnt have a mortgage so I think the national stuff doesn't apply but I'm less certain about local laws. If I can't evict them am I allowed to not renew their lease or something? Or would that be prohibited too?

So I've been shopping around a bit but a lot of lender can't help with this one. I bought a duplex for cash in Binghamton New York over a year ago. Worth 80 to 90k right now. I want to do a cash out refi to fund my next investment. Considering the loan amount and how the maximum permitted fee structure many banks don't want to touch it. I guess cash our refi's on investment properties are riskier so they want more $ to make up for it but can't legally charge those amounts. Self employed recently enough I can't get the banks to go off my income. Property grosses 1650 a month from rents. Suggestions of places to call? I don't mind going higher than the 3 or 4% for a standard mortgage but I'm not looking for hard money rates.

$20 isn't a lot. I charged $50 per pet with an extra $50 per pet increase to the deposit. Lowest I've seen around here is $35 extra per pet. 

If the lease is almost up I'd just stick with it until the new lease and put the 1100 a month at that time. If it's more than 2 or 3 months to go I'd change it back to 1100 a month.