All Forum Posts by: Terry Brennan

@Debra R. with cozy.co does it notify when the funds were drawn from the account? I have a tenants that has requested an auto draw set up on her account.

I have a client with 62 acres in PA. Land is valued at 240k but only owes around 11k. He is looking to cash out, or refi and use the funds to invest in real estate. Are there any lenders that still doing loans on land?

The tenants have been in the home for 10 months on a 1 year lease. They have made late payments 8 out of the 10 months. Usually paying 700-900 within the first 7 days late, and taking up to 2 weeks to pay the balance. This is the first time they cannot give me a clear answer on when I can expect any payment.  Every month with a different reason on why they do not have payment. This is the first month that there excuse holds any weight, the home became infested with bedbugs which cost them around 600$ to treat. 

The tenants on one of my properties is now 8 days late on payment. Do I need to serve a notice to cease before I file eviction?  My contract states that eviction will be filed on the 14th day, the rent is 1400/m and they are offering a partial payment of 400. If this payment is accepted and they do not pay the rest, will this delay the eviction process?

If you buy your personal home at top market value I can understand this. I have been "House Hacking" for 10 years now. Meaning I buy, renovate while I live in the home, and cash out or resell when I have the equity. Without the purchase of my primary residence I would not be where I am today in my investment career. Buying anything and market value is for suckers.

I need to re-roof a property I close on in 2 weeks. Roof is around 8 square. Anyone know of a good roofer in South Jersey

I am also interested in MeetUps in Southern Jersey

@Robert Grant Do you have any recommendation on a no income doc lender. 30% down is no issue.

@Mark F. Great input. thanks 

Hello Everyone on BP,

 I purchased a few rentals over the past 12 months and now I am running into a problem. My debt to income is capped due to me not having enough rental income history filed on taxes. Are there any financial institutions or private lenders that will write loans based on potential rental income instead of my personal income/debt? I am on a mission to purchase 3-5 more properties by the end of 2016. Any advise would be greatly appreciated.