All Forum Posts by: Brandon Toron

Quote from @Brandon Toron:

Good Evening,

I just purchased a property in Independence, Missouri. I waived inspection and also elected to purchase the home "as is". The Sellers disclosure answers "Yes" - that all necessary permits and approvals obtained, and was all work in compliance with building codes? I returned form the town and found out no permits were filed during the renovation the sellers just did. What recourse do I have? Do I need to prove the buyers knew they needed permits or just that they didnt get any? Please help 

 Thanks for the response! Souids like its worh it to settle

Good Evening,

I just purchased a property in Independence, Missouri. I waived inspection and also elected to purchase the home "as is". The Sellers disclosure answers "Yes" - that all necessary permits and approvals obtained, and was all work in compliance with building codes? I returned form the town and found out no permits were filed during the renovation the sellers just did. What recourse do I have? Do I need to prove the buyers knew they needed permits or just that they didnt get any? Please help 

Hello BiggerPockets Community!

My business partner and I are in the process of buying our first SFR in Kansas City, MO (Possible F&F or BRRRR). We offered $40k, and the seller declined. We were contacted a week later by the listing agent informing us that the seller has other offers and they are requesting our "Highest & Best" offer no later than noon tomorrow. Assuming our Highest & Best offer is accepted, is the selling agent required to disclose the details of the other offers?

Hello,

I am looking at lower-end properties out of state. I would need a property manager to make it work. I'm looking at properties that are worth around $100k-$150k that will rent roll at about $1600-2200. At 8-12% of the monthly rent roll, that would net them a max of $264 per month. I'm not sure if I'm way off here- but do you folks think the property manager wouldn't be doing much work for me at $264/month?

Want to ensure if I set this up, I have the out of support I need to find success. Any and all opinions are greatly appreciated. Thank you in advance!

Hello,

I bought my first home in March of 2020. I am trying to figure out how to get a mortgage for an additional property. Credit score is around 750. I currently have a mortgage and some other debt that equals roughly 3375 monthly. I am renting out the top floor of the mortgaged home I bought in March for $3100. Addittionally, my W2 job grosses around 90k last 2 years. With the reported income of my W2 job, my DTI appears on paper to be in the high 40%'s.($3375:$7,500) I assume this to be a big red flag for a lender and am trying to figure out what can be done to qualify for another mortgage in my current situation. What is an effective strategy given my current situation to secure another loan? What are my options? Thankful for any help and wishing everyone a safe and happy New Year!

Kind Regards,

Brandon Toron

What does your evaluation process look like when searching for a rental property that is worth while?

@Frank Patalano

Thanks for putting this question out there. I have been evaluating the prospect of buying a multi-family rental property for a while now. The thing that is holding me back most is understanding pricing. I am not confident in knowing the value of a home. I also, feel like I need to learn more.