All Forum Posts by: Adam Aschoff

We just purchased our primary residence and have found with each project we complete Lund the house there was shoddy workmanship from the previous owner that was not disclosed nor would have been found by a home inspection.

- flashing installed incorrectly around chimney resulting in water damage to roof

- outlet burned out due to fire damage

- dishwasher circuit wired to other outlets and light fixtures

- rocks out in door jamb instead of insulation

- carpets buried in backyard only uncovered when installing a shed

- boiler worked once (ironically for home inspection) and had to replace hot water heater

The list goes on. What protection do I have as a homebuyer in Massachusetts and can I go after previous owner for negligence or on disclosures? any geo would be greatly appreciated.

@Todd Pultz

What about a rent to own situation? I’d still hold onto the house, lock in a higher potential selling price in the future, and be able to charge more in rent.

What would be the purpose of a balloon payment coming so early in the mortgage in your example? Would that essentially force them to refinance?

@Todd Pultz

Our property is a 3BR 1 BA in Plymouth MA. The current market rent would be MAYBE $2000 to rent normally. With an all in mortgage taxes included payments look like $1699 per month but the local section 8 says I could get $2400 - $2600 per month. $2000 just doesn’t give me enough cash flow to pay for all the miscellaneous costs of the property.

With seller financing, I am looking for more cash flow. Yes I would not get any appreciation but with a mortgage structured with amortization so I would make way more, and probably at a higher interest rate. I’d be happy to share some additional details but this is where my head is at right now.

In deals that you have done, do you charge market interest rates and are the amortized?

My wife and I are discussing non selling our house in the coming year and I have some interesting in seller financing my property. The reason being is I do have a lot of equity in our property and the rent doesn’t work out for cash flow unless I would do section 8. What goes into setting up a seller finance and have people found this to be beneficial for themselves?

@Elise Marquette

I do not have a property under agreement but was looking for lenders who are willing to work with potential short term loans to help flip. What type of property is your firm interested in servicing?

What banks or local lenders in the cape. Of area have you had the lost success in working with?

I am looking to connect with anyone who is familiar with investing in the Cape area for both cash flow and fix and flip. What areas have you found success in? How do you like to shape your deals?

@Ryan Wittig

Unfortunately it just delays the inevitable... rent will go up MORE after the ban is lifted... probably displacing tenants across the state.

@Rich Hupper

In my very limited experience unless they are an investor they want nothing to do with it. People don’t want responsibility especially in something they don’t understand. That’s the advantage investors have over normal folks! The horse just wants to be led to water...

He/she could also see if the seller is interested in seller financing. The current owner of the property would have to carry the mortgage and still make their payments as well. It would never go on a credit report therefore would not need to be cleared by a financial institution. Let us know how it works out!