All Forum Posts by: Christopher Veljkovic

@Tom Gimer would the title company have found those records and/or are they attached to previous surveys? 

@Teri Feeney Styers I do want to approach the other owners and I want to caress the situation because I don’t want them to deny any previous obligations. I guess I am hoping for an answer that kinda gives me aload gun/solution. 

Hello @Kyle Lofland

What are the specific numbers your looking at or trying to achieve? ARV? Purchase price? Mild, medium, or extra Spivey Renovations?

I too am always looking and I sometimes get off the market deals that are way out of my league but maybe not for you. I’m not sure how they fall on my lap but they do. 

@Ashley Stasio I agree with @Lillian Leigh, you need to utilize that Rental Calculator. It is a great tool. 

I used it to purchase my first duplex and it help me stick to the numbers. As long as your realistic and conservative with numbers this is truly beneficial!!

GOOD LUCK!!

Welcome@Frank A Piccirillo II  you came to the right place!!  

I am I the middle of my first house hack right now.  I bought a duplex side by side at a good price and putting some sweat equity into it. The home is located I Morris county NJ in a B neighborhood and I am hoping to pull out the equity as soon as the rehab is done. 

I eventually plan on purchasing another small multi or single family home for rental purposes if the price is right!!  

Well good luck with your endeavors. 

I hope in the next few months I’ll be able to reach and network more after the rehab slows down because I am looking for solid partnerships that can balance me. 

I want to start a REI with beginners that want to take the leap but don't have the courage yet or the deal yet!!

Advice needed on a Easment issue:  Thank you ahead of time BP Fam!!

I purchased duplex property on a dead end with an odd shape land that happens to share an easement with two other properties. 

The questions that arise are: 

what are the responsibilities between the land owners including myself. 

Who fixes the black top?

Who shovels when it snows?

What happens if there is an injury on the common are? 

Those are just a few.....I have more and hopefully BP can ask a few other ones that might slip my head!!!

All the while when I got the survey done it shows that I own the common driveway. 

First of all I want to protect myself but that being said I want to do the right thing and if that means I share responsibility between the or 2 owners, that wouldbe fine by me. 

I am looking for advice how to approach this situation, what to beware of within easement issues, how to create a win/win for all of us!! 

The other two owners had bee there for decades and the home I purchase, the family lived there since the early 1900s, so I sure there was a understanding between them whether on paper, handshake, or kinda understood thing going on. 

I do not want to approach this with a simple understanding. I looking to protect us all!

Thanks again!!!!

@Nathan Gesner you are correct as far as my attorney.  And I need to go back to the initial contract after giving them the home inspection asking  for concessions or remediations.  Maybe the verbage wasn’t clear. Although it will not make a difference at this point. 

I want to go ahead with the deal but the main issue now is the paint. How can I get that done?  They will not pay for it. How can I take matters in my own hands and handle this issue so that I can close by the 30th. 

Should I give money to my realtor to have it done? Can I just give the homeowner money to fix it? Any thoughts how I can make this into a win win situation?  

Thanks! @Tom Gimer @Nathan G.

@Tom Gimer your exactly correct I’m thinking! I might have to go and paint it myself because they are not going to dish out the cash.   

I

@Teri Feeney Styersthere is no HOA with the issue above. This is strictly between myself and the seller. I have come to the conclusion that the lack of response is the response. They are probably holding out until the closing date to either fulfill the agreement or back out.

Hello BP community!! I am in need of some Legal Strategy, Comments, or even follow up questions regarding this situation I am in. Unfortunately, my attorney is hitting a wall and doesn't know how to proceed.

The homeowner and homeowner's attorney has not responded officially to a inspection reported that was submitted to them almost a month ago. Every time we ask for some response from the opposing attorney, the attorney just says, "I'll talk to my clients", and that will be the end of that.

The Situation:

The home inspection report was done, which has the following issues:

1. Active termite (which I believe was taken care of already, just need to see a documentation.)

2. Roof (which I am taking care of in my 203K streamline loan.)

3. The home needs to be cleared out with all the debris. Especially The Bag of Vermiculite thats is sitting in the attic.

4. Basement has evidence of water and mold.

5. Exposed electrical throughout the home.

6. Ejector pump is not working in the basement.

7. All proper permits must be provide (the OPRA report was done, there are obvious things that had been upgrade without showing up on the OPRA)

8. The new decking needs to be finished (which is in the process of being complete.)

9. Few window sills are missing on the home.

The sellers realtor just had quotes drawn up for remediation but that was all.

After the 203k Home inspection:

1. There are paint chipping and painting needs to be done throughout the exterior of the home, prior to closing.

Background of the Home:

This home never hit the MLS. It is situated in a B neighborhood on a cul de sac located about 1 mile away from a train station to NYC and half a mile to the main street. Asking price and agreed price is $299,000. The home is a 100 year old home, duplex side by side with a tenant already in place for $1700/month, and the tenant side is pretty much upgraded. It is a 2 bed, 1.75 bath, with EIK, living room, and dining room. The side I'll be living in is in need of a total upgrade, which is a 3 bed, 1.75 bath, EIK, huge living room, and access to the third floor and attic. The appraisal came back at $375,000, which doesn't include a unfinished third floor that has three bedrooms and full size bath (I plan on making that portion into a third apartment). With all expenses such as PITI, vacancies, Cap Ex, repairs, and MISC will be around $3400.

So, What can I DO?

How can I advise my attorney to proceed? (that sound funny asking that question. Im not saying she hasn't been good, but I guess she has never experience this situation.)

Closing date is April 30. Time is of the Essence!!

Thanks Ahead of Time Bigger Pockets Community!!!

Hello BP community!!  I am in need of some Legal Strategy, Comments, or even follow up questions regarding this situation I am in. Unfortunately, my attorney is hitting a wall and doesn't know how to proceed.

The homeowner and homeowner's attorney has not responded officially to a inspection reported that was submitted to them almost a month ago.  Every time we ask for some response from the opposing attorney, the attorney just says, "I'll talk to my clients", and that will be the end of that.  

The Situation:

The home inspection report was done, which has the following issues:

1. Active termite (which I believe was taken care of already, just need to see a documentation.)

2. Roof (which I am taking care of in my 203K streamline loan.)

3. The home needs to be cleared out with all the debris.  Especially The Bag of Vermiculite thats is sitting in the attic.

4. Basement has evidence of water and mold.

5.  Exposed electrical throughout the home.

6. Ejector pump is not working in the basement.

7. All proper permits must be provide (the OPRA report was done, there are obvious things that had been upgrade without showing up on the OPRA)

8. The new decking needs to be finished (which is in the process of being complete.)

9. Few window sills are missing on the home. 

The sellers realtor just had quotes drawn up for remediation but that was all.

After the 203k Home inspection:

1.  There are paint chipping and painting needs to be done throughout the exterior of the home, prior to closing.

Background of the Home:

This home never hit the MLS. It is situated in a B neighborhood on a cul de sac located about 1 mile away from a train station to NYC and half a mile to the main street. Asking price and agreed price is $299,000. The home is a 100 year old home, duplex side by side with a tenant already in place for $1700/month, and the tenant side is pretty much upgraded. It is a 2 bed, 1.75 bath, with EIK, living room, and dining room. The side I'll be living in is in need of a total upgrade, which is a 3 bed, 1.75 bath, EIK, huge living room, and access to the third floor and attic. The appraisal came back at $375,000, which doesn't include a unfinished third floor that has three bedrooms and full size bath (I plan on making that portion into a third apartment). With all expenses such as PITI, vacancies, Cap Ex, repairs, and MISC will be around $3400.

So, What can I DO?  

How can I advise my attorney to proceed? (that sound funny asking that question.  Im not saying she hasn't been good, but I guess she has never experience this situation.)  

Closing date is April 30.  Time is of the Essence!! 

Thanks Ahead of Time  Bigger Pockets Community!!!