All Forum Posts by: Charlotte Wilson

Technically yes, but not the way they needed to be done. we wanted a couple things done a certain way, for example, they made three prong outlets into two prong outlets in areas that didn’t make sense so they could avoid higher costs on their end. 

The addendum they sent to us stating the repairs they were going to do was denied by us, so we did not agree to anything but they still moved forward with it. 

We put in an offer a few weeks ago for a property in Kenosha, Wisconsin that has turned out to need a lot of work and the sellers aren’t in agreement to fix majority of it. Long story short, the electrical is a big issue. we sent an addendum and they responded with fixing some of electrical but not in a way that made sense, so we denied it. The NEXT day, they had an electrician work on the house performing those tasks that we didn’t agree to. Would this be a way to back out of our contract to get our earnest money back? My real estate agent is saying no but when I look online, it states otherwise and I have no further knowledge to back it up. Any advice is appreciated.

I have a good down payment set aside ready for my first duplex investment property that I plan to rent out. I thought a FHA loan would be the best option but now I am second guessing my choice since interests rates might be higher. What loan would you think fits best in my situation? I have a great 800+ FICO and about 60K for a down payment.

I am looking to purchase my first duplex with a FHA loan for my husband to live in for a year. I may also be buying another single family rental property several months following. Is this a red flag to banks for getting approved? I'm curious how they will think I'm eligible for another mortgage without enough "income" for the risk even though I will be renting it out.

Maybe I am overthinking this but when I look at properties to purchase that I plan to rent out, how do I make sure I am including all the potential additional “cost” besides the mortgage and property taxes? Is there a quick way to estimate what those other costs will be monthly to make sure my calculations are accurate? This will be my first investment property and My fear is that I will estimate my cash flow incorrectly and end up losing each month. Any advice or thoughts are appreciated. 

I am interested in getting an FHA loan for my first real estate investment property but do not want to MIP loan term. Is this a type of loan I can refinance down the line to remove the MIP? If so, is there a timeline of when that refinancing can happen?