Where's a good town to buy an investment property for $200k or less? [au] Real Estate |
- Where's a good town to buy an investment property for $200k or less? [au]
- Appraisal came in $30k too low, very nervous. [TX]
- Appraised Value SHOULD BE the same as the Sales Price. It isn't a conspiracy.
- Seller just rejected almost all of our post-inspection requests - I think we'll have to bail, looking for advice first
- Help me escape a cat pee house
- 60+ days of real estate headache
- Landlords: Would you have any quarrels about your tenant contacting you (bypassing your management company) to propose renting directly?
- Seller’s Realtor asking for copy of appraisal
- Seller wants to change HI addendum terms based on home appraisal
- Multiple loan apps within 14 or 30 days don't further ding your credit. But does only the first lender get the un-dinged top scores?
- Buying a house, water leak from the top floor.
- Buying a spec home, builders using bathtub as a toilet
- Breaking a Lease (AU,NSW)
- MIP removal question
- Aunt moving into a Nursing Home. What to do with her house?
- My appraisal (NJ shore) will come out at about 100k less than the asking price.
- Considering a house near train tracks. Need perspective/info.
- Small business just had a property management change, new lease extension option is undoable, any options?
- [DEN] Is it worth it? Question from first time home buyer in Denver.
- Real Estate Investors - How often do you talk about real estate?
- Untimely Error on Credit Report Causing Chaos During Escrow of my Refi
- Quad cities lease question
- RE Property that is "Land Locked" in CA
| Where's a good town to buy an investment property for $200k or less? [au] Posted: 04 May 2018 12:46 AM PDT Hey there, is anyone able to give me some advice on where in NSW close to ACT (within a 3-4 hour drive) is a good place to invest? I have enough $$ for a 20% deposit on a $200k property. I'm ideally looking for something closer to $130-150k. Also is it worthwhile investing in a one bedroom unit or are they too difficult to sell? Thanks in advance :) [link] [comments]  |
| Appraisal came in $30k too low, very nervous. [TX] Posted: 03 May 2018 07:00 PM PDT First of all, my wife and I will be first time homebuyers so this is all very new to me. The house is an estate sale and the original owner kept it in unbelievable condition. It is not 'updated' but it's in immaculate condition in every way. It was custom built in the late 60's by a NASA mechanical engineer and he didn't cheap out on anything and put lots of work into keeping up with every bit of maintenance over the years, even machining his own parts in his workshop when he needed to. (learned a lot from talking to the neighbors..) It's got real wood cabinetry and paneling. The framing is actually built out of redwood. The foundation is perfect. Anything it needs is only aesthetic - painting, etc. If you couldn't tell, my wife and I love it. For the area, the price was without a doubt fair and our real estate agent felt it was a great deal. The seller's agent also has a reputation for pricing homes at market value. We went to an open house the day it went on the market and there were multiple offers the same day. So, in comes an outrageously low appraisal with comps that don't seem comparable at all. They were using houses within 3 miles, that were sort of similar age-wise but not similar in any other way. Our house is: 2 story, 4 bedroom, 2100 sq ft with a 2 car garage and an extra detached garage / workshop. 2 of the comps were 3 bedrooms, 1400 & 1700 sq ft. And one of the 4 bedrooms was actually 3 bedrooms with a converted garage and looked like shite. The only accurate / fair comp as far as square footage, age, # of bedrooms and garage was $60k MORE than the price of our house ( - tho the lot is much bigger, so it would actually adjust to support our price) So, our agent has received the sellers comps and submitted his rebuttal to the appraisal and we are waiting to hear back. Our agent is confident that we have a strong case to support the value, but what if the appraiser doesn't agree? Our closing date is so close, I don't know what options we would have. The seller already has 2 backup offers at asking and one of them is cash. This is really heart and gut wrenching that this is all resting on the opinion of one person who may be inexperienced or inept. What can we do if anything? [link] [comments]  |
| Appraised Value SHOULD BE the same as the Sales Price. It isn't a conspiracy. Posted: 03 May 2018 10:03 AM PDT If the buyers, sellers, and agents are all doing their job, and the appraiser is doing his, it should be the same number. Here is Fannie Mae's definition of market value: "Market value is the most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: buyer and seller are typically motivated; both parties are well informed or well advised, and each acting in what he or she considers his/her own best interest; a reasonable time is allowed for exposure in the open market; payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale." If those conditions are met, then the appraiser should come up with an opinion of value that is very similar to the sales price. The sales price of a property is the single most important piece of information in an appraisal. The second most important is what it sold for last time. This is not some gigantic conspiracy. There are bad appraisers out there who may just "hit" numbers, and I hope they all get run out of the business soon. But, it is entirely possible that the best appraisal report ever completed comes in exactly at the sales price. [link] [comments]  |
| Posted: 03 May 2018 01:35 PM PDT (location: MD) The sale of our home is almost complete - settlement date is a couple of weeks away with no more hurdles left and we're walking away with a nice chunk of cash in our pockets. When we started the process I expected to be "homeless" for at least a few weeks and I was OK with that. We're putting all out stuff into PODS and we have a free place to stay nearby (family-owned condo) while we house-hunt. I was actually looking forward to saving some money without having a mortgage or utilities for a little while but as luck would have it we found a house we liked relatively quickly (on the first day it hit the market) so we made an offer of full asking price. The house is cheaper than most in its neighborhood because a) it's a bit smaller and b) hasn't been renovated since '02 so I figured it was priced accordingly. The well and septic passed all tests but they are 30 years old. The heat pump is past its life expectancy. The appliances are all 15 years old but work and we'll cover our butts with a home warranty. Unfortunately the inspection revealed a lot of problems, many stemming from DIY projects as I learned from the seller when I met him the other day. Some of the bigger issues:
and some (but not all) of the smaller but important issues too
The inspection report listed over 60 items, most of them being action items vs recommendations so we requested about 20 of them get addressed. I was expecting the seller's agent to have some back and forth phone calls with our agent to negotiate but instead, today we received the formal response saying they are only willing to fix most of the electric work and offer $2k towards closing costs. I've done a little looking and $2k isn't going to come close to covering these expenses, especially if bigger problems are uncovered during the repairs. Based off my convo with the seller I think the only reason that he's offering to do electric at all is because he knows someone who he can pay under the table for cheap. The sellers are an older couple downsizing to their other home by the beach, this home is paid off. I'm wondering if they are playing hardball because they know we settle on our own sale so soon and they don't realize we are actually OK if we need to keep looking.... or maybe he is just really proud of his home and thinks it doesn't need this work and will sell anyway.... I don't know. My initial reaction was "fuck this, we're walking" and I'm still feeling that way but I figured it was worth sharing the experience and listen to any advice offered. I am a little disappointed if I need to walk away from this house but it is exciting to start looking again. [link] [comments]  |
| Help me escape a cat pee house Posted: 03 May 2018 03:39 PM PDT I own a piece of property that has been pretty much destroyed from the inside by the previous tenant. After extensive clean-up efforts, including removing the flooring and pieces of drywall that were literally mush from soaking up cat urine for months at a time, we cannot escape the cat pee smell. Our realtor can't move it - people who come to look at it can barely get past the front porch before the smell drives them out. We have no way of making the previous tenant pay for the damage. We need to get rid of this house, but are completely stuck for ideas on how to do so in a way that won't leave us still holding a large amount of debt on a piece of property that's essentially worthless. Does anyone have any advice on anything else we could do? [link] [comments]  |
| 60+ days of real estate headache Posted: 03 May 2018 10:21 PM PDT I come here to pretty much vent out loud about this listing agent and the seller that I am having to deal with here in Fresno, California. My wife and I back in February started our journey in an attempt to buy a house in a sellers market and our budget for our pre-approved loan is $180k. One of the firsts houses we looked at was a 3 bed 1 bath one of the bedrooms being a garage conversion. The house is 1316 sq ft and it was listed for $179k. Now I wasn't too keen on maximizing my loan but this house also had solar installed on it and on the listing it had stated that the solar was recently installed and would be fully paid off upon sale of the house. Sounds like a great deal, right? Well, when we were looking at the house the seller met us there and allowed us to explore. The floors were hard wood and looked recently finished. Closets had built in shelving, the kitchen had granite counter top and the back yard had a cute little fire place. My wife fell in love with it and said it many times out loud. I was quiet. I was shopping, It was literally the first house we saw and I wanted to see what else was there offered in our price range. On our way from leaving the house viewing, the seller mention that his father, who happened to be the listing agent, had listed the price too low and they were going to raise it to $190k because he wanted to make up for the cost of the solar and he forgot to communicate with his father the price he wanted to sell at. Bummer, out of our price range. We moved on. About 2 weeks after seeing the property the seller contacted my agent and offered that they would entertain the original asking price of $179k if we were interested. My wife's eyes got big and googly. I told my agent to put the offer in with the contingency that the solar is paid off, roof certification (because the solar was installed) and a section 1 pest certification along with other contingencies like home warranty. The seller agreed but countered with $1k more to cover the costs of the certs and warranty. The seller also said that we would be doing a double escrow on the house. Whatever. We were happy with the agreement and signed. After my agent had mentioned the double escrow, I had no clue what that meant so I looked it up. For those who don't know, a double escrow means that there are 3 parties involved. You have the owner, seller, and buyer. Apparently the seller didn't own the house but was "fixing it up for a friend to sell." The double escrow ensures that the seller and buyer gets the proper amount of the money and that both escrows are transparent. The title company was willing to do the legwork and we were fine with it so long as it was done legally here in California which means that both escrows have to close on the same date. So, we opened escrow on the 3rd of March and we wanted to get started right away on our due diligence. We asked for the disclosures on the house. No response at all from the listing agent. At. All. We served a notice to perform for the disclosures, and a an initial request for repairs with an addendum to extend our due diligence so that we can hire the home inspector and appraiser. It was signed but no real communication from the seller or listing agent. Remember, they are related. 3 weeks go by and the same BS continues with lack of communication from the other party. My agent contacted the escrow officer to see if he had been able to contact the seller/listing agent and the escrow officer said that they were deciding still on if the double escrow is feasible or if they want to do a single escrow. WHAT!@?! 3 weeks. 3 WEEKS have gone by in escrow and they are working on something that should have been figured out BEFORE they even listed the house. My agent asked if we wanted to back out. We said no because there really is no better deal out there than what we currently had. 4th week went by escrow is closing right? WRONG! They decided to do a single escrow and obtain a grant deed. Wow. First of all, it took 4 weeks to figure that out??? Why? I will never know. And on top of that, we found out this information from the escrow officer who really should not have known about it since we were already in contract. It took another week to get the grant deed from the owner because he lives out of state and we were requested to sign a new contract that stated the new way of selling the house through the grant deed. Whatever, at this point we were too invested and we really wanted the house because there was no better deal out there. So, we resubmitted the offer, and made sure our original contingencies were there. We hired the home inspector right away because at this point we were on a time crunch to get things done fast. put in the new request for repairs. And yes, we were still waiting on the disclosures of the house. On top of that we had not heard anything about the 2 certifications on the house. My agent asked the seller and he claimed he didn't know anyone to hire for the pest inspection. My agent knew someone who was trustworthy and for sake of time offered to call the pest inspector for the seller. Now we are up to last week. My agent had gotten so fed up with the listing agent not returning phone calls or emails that he got his broker involved. After the involvement of the broker the listing agent has now been more communicative. Now this is how much of a douche this listing agent is, my agent requested on Monday for information on where we were at with the 2 certifications and the listing agent scoffed and said "well, with all these repairs oh and about that roof certification, you guys are sure trying to milk every penny out of this, aren't you" WHAT?! THE NERVE! HE was the one who agreed to the terms of the contract and HE was the one who countered with another $1k to cover the costs. Apparently I'm the greedy one here. The listing agent let us know that the repairs were being worked on this week and they were trying to schedule the pest re-inspection for today but was not able to due to scheduling and will be out to re-inspect on Monday at 9am. We are scheduled to sign paperwork with the notary. Essentially ONLY thing we are waiting on is the two certifications which the seller has now had over 60 days to complete! Hopefully if everything goes right we will do our final walk-thru and close sometime next week. I've about had it with this home buying experience though. I simply cannot wait to be down with the headache of buying this house. My agent is going to help me file a formal complaint with the local real estate bureau informing them on how unprofessional, uncooperative and non-communicative the listing agent has been through the entire process essentially turning a 30-day escrow into a 60+ day nightmare. Thank you for reading. Hope you never run into dealing with this listing agent and his son. Ever! [link] [comments]  |
| Posted: 03 May 2018 08:44 PM PDT Background: I've been renting from the same owner for about four years now through a property management company. I've never been late with rent or with any other fees for the entirety of my time as a tenant. Nor have I had any complaints. The only extra cost the landlord has had to worry about during my stay is when my AC stopped working. I grew up in a blue collar household so i'm a decent handyman and take care of most household issues myself. At this point, the management company is costing him around $170 per month to collect my rent. I've had my owner's contact info for a couple years now (unbeknownst to the management company) but I have never contacted him thus far because I was ok with my current rent cost and didn't want to cross any boundaries. But, the rent increase ($100) has finally come, so I wanted your guy's opinions on if it would be a bad idea to reach out to the property owner for the purpose of requesting that he cuts out the management company? If not, then what is my best method of doing so? EDIT: I want to make it known that this isn't the first rent increase in the past four years. This will be the 3rd, but it's finally at the point I feel it's no longer worth paying for. I'm located in California. [link] [comments]  |
| Seller’s Realtor asking for copy of appraisal Posted: 03 May 2018 06:42 AM PDT Hi everyone, this may be something that's an answer in the past but I could not find anything on a simple search. Currently under contract to purchase the condo, the realtor for the seller actually lives in the condo. He will essentially be my neighbor soon, he has asked to see a copy of the appraisal. It appraised exactly at how much I offered, so I do not suspect it will harm deal, but I'm not sure I should offer any documents until after closing. We have already agreed on repairs, seller will be handing me a small sum of money in the form of closing costs, and we are on track to close. In summary, I know that I am not in any obligation to provide a copy of the appraisal that I paid for, but given that it doesn't seem to harm me anyway and this person will be my neighbor soon, would you all recommend I provide copy if I was planning to do so after closing anyway? (Seems it may help in another sale) Thank you! Edit: Jacksonville FL (not that it matters...) Solid advice everyone, I agree I want to maintain good relations, for all I know he may be on the HOA board, I plan to inform him my realtor advices against it and I'm happy to provide it after closing. [link] [comments]  |
| Seller wants to change HI addendum terms based on home appraisal Posted: 03 May 2018 07:18 PM PDT So I'm a buyer and the home appraisal came up short of the offer price that was accepted, so the seller agreed to reduce the price to the appraisal, but also wants to keep the cash that they offered to take off of my closing costs due to home inspection improvements and agreements that they agreed to before the appraisal. This doesn't make sense to me since the cash off of closing from the HI was agreed upon for making up front changes to the house to avoid further damage. Will I be able to reduce my closing costs or downpayment with the lender without changing my rate by the amount that was offered to me from the HI? If not it seems I should be able to request the HI addendum terms remain unchanged, and that they reduce the price of the property to the appraisal price, correct? [link] [comments]  |
| Posted: 03 May 2018 09:49 PM PDT I've learned that for mortgage loans (and also separately for car loans, but not the point here), that within a limited timeframe, multiple credit hard pulls for the same purpose don't aren't treated as multiple pulls in the FICO algorithms. That's because the industry understands that people shop around for those big-ticket items. But... doesn't the first lender's credit pull get a "pristine credit score", without the reduction for that inquiry? While the subsequent lenders you apply to, even within the 14 or 30 day window, get credit scores that are already slightly reduced by the first lender's pull? Sure, if I apply for a mortgage at Lender 1, then apply at 3 other places, for comparison-shopping, lenders 2, 3, and 4 should all see the same credit scores from EQ, EX, TU. But won't that set of scores be lower than what Lender 1 got? Or is it, "all lenders of the same type get the same score during that period"? As a related question, as well as to feed the LocationBot, let's say for example I'm looking in both Northern Florida, and a different metro, maybe in Georgia or South Carolina. With some lenders who only cover one of those areas. Does the multiple-pulls-don't-hurt rule still applies, even if it's different locations? Non-hypothetical question (even if about "hypothecation" if we're going to word-roots, haha), because I'm considering looking in both my first-choice metro out of those lists and already put in an app with one lender in one of them. (Edit: who doesn't cover the other area.) But want to comparison shop with at least one other lender who covers that area, let's say Jax, plus have at least one app that covers the other metro in the other state, let's say up in SC. Still no further score damage (beyond what might happen for the Lenders 2, 3, 4 scenario after Lender 1 got the first one) even if entirely different states? Or am I really screwing myself by simultaneous two-states applications. FICO representative score from Lender 1's trimerge pull is overall good, is north of one of the important boundaries, but only by 2 or 3 points. (Don't feel like posting the exact score, just the "3 points over a boundary" is what's relevant.) [link] [comments]  |
| Buying a house, water leak from the top floor. Posted: 03 May 2018 03:39 PM PDT Current have an accepted offer on a house that we really like. It checks all our boxes and is in the exact area we want. We also got it for a good price, all things considered. Our one hang up is that our inspector discovered a leak from the second floor shower stall drain. When run for 30+ minutes, water begins dripping down substantially into the room below through the drop ceiling. When we saw it there was a puddle on the floor that needed to be wiped up with a towel. The seller refused to pay to have it inspected and remediated for mold. Would I be an idiot to consider buying this place anyways? Here are some facts: * The shower was installed 10+ years ago * The drop ceiling had a very small amount of water staining on it between tiles, but not substantial * The house was vacant for many months before we came in for inspection (could the seal/caulk have dried out from not being used indicating a new issue?) What do you guys think? If the issue was as clear cut as paying a few grand for mold remediation I would still go for the house but I'm concerned that if this has been an issue for 10 years there could be rotten wood or structural damage that would cost way more. [link] [comments]  |
| Buying a spec home, builders using bathtub as a toilet Posted: 03 May 2018 05:45 PM PDT I went by the spec home my wife and I are purchasing and saw that the upstairs bathtub is full of urine and feces (ok not full but definitely has been used as a toilet). Surely this is not common practice. I am worried that they will try and "flush" it down the drain and it will cause issues with smells in the future. When I went outside I noticed they removed the Porta Potty that had been in front of the construction site. If they workers don't have a place to go I get you have to make emergency decisions but I do not want to suffer the consequences. Just looking for any advice/input as to how you would handle this situation. Thanks! Located in Waco Tx [link] [comments]  |
| Posted: 03 May 2018 06:39 PM PDT I know there are certain requirements for breaking a lease which I am aware of and willing to do at all expense and just make the process as smooth as possible so I can move on and keep everything okay with every respective person. I have emailed a letter to my real estate agents regarding breaking the lease and how long until I'm moving (I'm moving interstate). But I don't believe they're taking me serious, usually when I email them about things regarding the property, they email back same day, I sent this email regarding breaking the lease 5 days ago with no reply. I would like advice on how to break the lease smoothly and respectfully and how to do it properly? [link] [comments]  |
| Posted: 03 May 2018 05:55 PM PDT Crossposted from r/mortgages We're going around and around with Freedom Mortgage and I'm trying to figure out if we are missing something or if they're just trying to talk us in circles. FHA, 30-year, less than 10% down. Loan obtained prior to June 2013 so under the old rules. Purchased a home in 2011 at $400k. Re-fi closed 2/2013 for $382k. Currently at 77% based on the original $400k. Freedom insists that they cannot drop the MIP until 2020. Here are the questions. Can they legally wait until we were scheduled to hit 78%, even though we're at that amount now? Would they be able to use the $382k in their calculations rather than the $400k value amount at the time of purchase? We're sort of up against a wall because our loan has been transferred and, although we could have requested removal from any reasonable company after 5 years of on-time or early payments, Freedom seems to be completely unreasonable about this. Any advice and direction is appreciated. editIn Washington state. [link] [comments]  |
| Aunt moving into a Nursing Home. What to do with her house? Posted: 03 May 2018 05:34 PM PDT Like the title says, my Aunt can no longer live on her own. What do you guys think are the best options for her house? Sell it outright, reverse mortgage, or what? She lives in Waco, TX, so not exactly the most desirable market. Thanks. [link] [comments]  |
| My appraisal (NJ shore) will come out at about 100k less than the asking price. Posted: 03 May 2018 05:08 PM PDT This is a four unit building being rented out, all residential. Since I would be paying cash, I hired an appraiser to come out and see the property with me. The next day I thank him for his services (he showed up with an employee who is also a home inspector) and he called right away to tell me that the heads up is that when his report comes out it will be lower than asking price. His feeling is that it will be 100k less than asking price. The guy seems to have good credentials for this and he says he does a lot of commercial properties so I am sure he has a feel for cash flow. Yes he checks out as to state licensing (that's how I found him). Still I am a bit incredulous. Besides just accepting the appraisers news and making an offer about 100k lower, is there any way I can make myself feel better about his numbers? Based on revenue the NOI at their asking price (349K) would seem to be 9% — though it's an insanely old building, and I have not verified claims as to insurance etc. PS the assessed value, which dates to 2006 is about 100k less than the asking price, though I realize assessed values are just numbers. [link] [comments]  |
| Considering a house near train tracks. Need perspective/info. Posted: 03 May 2018 09:32 AM PDT I know people say you get used to the noise. Having lived directly under a takeoff/landing pattern for the busiest airport in the world, I know that consistent noise does become an afterthought. I've never lived close to a train, though, and this house has maybe 50-60 feet of trees between the double tracks and the nearest corner of the house. So it's close. It doesn't appear to be close to any crossings, so I'm not sure that the whistle would be a major issue. But I am sensitive to noise, which sucks. For those of you who share my particular affliction re: noise and have experience living near trains, should I just scratch this one off the list? Also, for those with knowledge, how do I look up schedules for trains? I've tried looking at the maps for CSX and Norfolk Southern, but it's not super clear when the trains run. Knowing how frequently trains run by would help me figure out if I can tolerate the noise or not. Any suggestions appreciated! [link] [comments]  |
| Posted: 03 May 2018 04:08 PM PDT Hi, so this is to help my parents out. They are owners of a small business in Carpinteria, CA, and recently their property management was changed to a company called ROIC. Their annual lease ends this December, and usually their old property manager would stop by and talk to them to figure out what their new extension option would be. Now that they are managed by ROIC, they basically just get a flat offer. [link] [comments]  |
| [DEN] Is it worth it? Question from first time home buyer in Denver. Posted: 03 May 2018 06:51 AM PDT Is it really worth it? Knowing that the market is overvalued (home prices continue to skyrocket, wages not increasing), I'm having a hard time believing that it's smart to buy right now. Yes, supply is limited and demand is high, but with the prices where they are / going higher and the interest rates increasing, these houses are only getting less affordable. At some point this would drive demand down and likely prices, would it not? Can this market really sustain itself? Seeing 1,400 sf townhomes from Sunnyside to Sloan's Lake for $600k+ seems ridiculous. Yes, I know you can't time the market, but can't help feeling that I'll be buying at the peak or close to the peak, only to have the rug pulled out from under me in a few years. I also know there are plenty of bubble/doomsday posts out there, but I'm not looking to time when the bubble going to burst, more so is this a smart move to make. I can afford a down payment and resulting mortgage payment, but when I hear "homes in the Denver area are generally overvalued, meaning the price buyers are being asked to pay is simply too high," it makes me feel like I'm getting ripped off. And then I add to the problem if buying, by creating support for those prices. TLDR: Is it a smart move to buy in Denver right now? Will prices come down as rates go up? The future freaks me out. [link] [comments]  |
| Real Estate Investors - How often do you talk about real estate? Posted: 03 May 2018 03:27 PM PDT Hi aspiring RE moguls, How often do you talk about real estate in public/people you just met/people in general? Its something I generally keep under wraps and only after I really get to know someone. Was wondering if you guys/gals proceed similarly or if you have a different perspective on it. [link] [comments]  |
| Untimely Error on Credit Report Causing Chaos During Escrow of my Refi Posted: 03 May 2018 02:43 PM PDT We have 20 years of excellent credit, a 740 score, never late on a payment to any creditor. Halfway through our cash-out refi, a bill collector files a late payment report on an account we paid off months ago, and it pops up on our report and our lender has frozen the process entirely. Spent two full days on phone calls investigating the mistake, and everyone agrees it's a mistake, but lender refuses to move forward until "letters" are drafted, sent and received, and this could take 2-3 weeks or more because of everyone's policies and "processes." Our LTV is about 50% and the loan is a slam-dunk no-brainer. I'm thinking of pulling out and shopping for a less-paranoid lender because the cash-out is intended to go right back into the property for repairs and upgrades, and I need to start scheduling my chosen contractors NOW. Any ideas on how to go about this? Would a bank be preferable to these "direct mortgage online lenders"? We live in Washington state. Thanks in advance. [link] [comments]  |
| Posted: 03 May 2018 02:27 PM PDT Just bought a commercial space in April and one tenant had signed a 5 year lease in March. Just found out that the tenant is moving out because of issues with his business (not the building). Do we go after him? Let him go? Just wondering how to handle this situation. [link] [comments]  |
| RE Property that is "Land Locked" in CA Posted: 03 May 2018 01:46 PM PDT There is a property I am interested in that is considered rural residential. Its a beautiful spot with lots of trees and great views. However there are a number of challenges facing it. The property is considered "land locked" with another property between this one and the street. There is a driveway going right up to the property Im interested in however it runs through another persons property. It also appears I may need to run utilities 400+ feet as well. The city told me my next step would be to speak with a civil engineer regarding if the driveway has an easement as well as the utilities situation. The city also recommended I speak with my local Fire Department regarding the driveway and if they require anything specifically. Essentially this property would be for my dream home so Im willing to do the leg work to figure out all the problems associated with it. Any help or tips? Dealing with easements? Finding civil engineers? Dealing with city public works and planning? Also, I would need to estimate costs for running utilities too. Is there a way to calculate? Potentially I could do solar, septic & propane, but would still need water. Thanks for any and all input! [link] [comments]  |
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