All Forum Posts by: Vinnia Tjhin

Hi Suji, 

One of my partner is Canadian and works a lot with Canadian investors. We are primarily focusing on multifamily property. We just recently closed on a 65 units in Louisville KY. I would be more than happy to give you both an intro. 

Quote from @Greg Snell:

Hi all, I purchased a turnkey property in Evansville Indiana at the end of last year. It took a few months to find a renter and said renter has every month not paid on time and finds excuses, every month is late. Now that they are required to pay with certified funds they do not respond about payment and are still late. At what point should I start the eviction process, should I try to work with them and find renters assistance programs or is it a lost cause. Just wondering if I should bite the bullet and start the eviction process, I have never gone through that before and am a little nervous about it. 

I am so sorry to hear this. Are you using PM? If you do, what do they recommend? 

We had issue from one of our inherited tenant for not paying but our PM managed to get them out without eviction in less than 6 weeks during Covid. 

@Alexis A Peinado

Hi Alexis,

Have you done any research on what is the ARV in the area for a rehabbed property? That would help you give an idea on what would be your ARV. But for now, I think $136k appraisal on a $130k purchase price is great. Like others said, seller asking price really meant nothing and you shouldn't consider that as the ARV as well.

If the number still works then go for it!

@Dan Drake

Hi Dan,

I use Genevieve Caudill from Shelter Insurance. She’s been great and very accommodating. Great rate too!

@Jake Pence

Hi Jake reach out to Mark Albini for agent. He works with investors, very responsive and great negotiation skill. @Mark Albini.

I also use ERS for my property management.

@Alexis Ayala

Have you add the insurance yet? Also, for the maintenance $50/months seems a little too low in my opinion. I usually put aside 5-10% for maintenance depending on the age and condition of the property. For tax, I would also set aside a little higher. IN has the cap at 2% for non owner occupied.

Will you be using this as owner occupied? For non owner occupied, lender usually asked for 25% down payment.

Hope this helps!

@Sanjay Fernandes

Above and Beyond Inspection. Dan is great and very thorough.

@Mike Garcia

I’ll be more than happy to share my agent info. He is an investor himself, and work with out of state investor. We’re very happy with him. DM me if you’d like his info.

@David Campbell

Last time it was for personal name.

@Ryan Ruppert

I didn’t ask especially how. I know another lender that could offer 15% down is Cross Country Mortgage. They could serve anywhere in US.