All Forum Posts by: Christian Nachtrieb

Hey @Wayne Brooks thank you for the note.. so you're saying it's better to do less water, more frequently?

Hi Community,

I’ve never installed sod before but did so for the first time last Thursday here in Boston. It was a HOT day, but went through with it anyway. A few small sections of the sod are browning even though I’m watering 3x a day. Granted, it’s been ridiculously hot 80-90 degrees almost every day... is this just the result of the heat or could there be another issue?

Many thanks everybody!!

Hey @Nick Foundas any chance you would be comfortable passing along your contact at Winter Hill bank? I am in a similar boat and am currently shopping around some lenders for a non-warrantable condo deal. It'd be super helpful to hear what they'd have to offer. 

Thanks!

It'll absolutely murder the traffic here. MURDER

Hi @Naveen Koorakula thank you so much for posting this you just made my week. I’m currently looking to buy a non warranted condo am still in search of finding a solid lender. Do you know if Star One would do any deals out of state? THANKS!

Hi @Mel K. I was just curious what ever happened with this deal?

Just posting an update to this. Found out the other two units in this 3-family are owned by one other investor. He's open to establishing an HOA, however the other obvious problem is the fact that the building would then be 100% tenant occupied and not owner occupied. Will those cause a huge problem if I go to refinance after a 1 year seasoning period after establishing the HOA? Has anyone had banks or credit unions allow them to refi in this situation?

It’s ust odd that there isn’t one. There IS common space, who’s been paying to have that kept up? 

I've found what looks to be an awesome deal in a great B- neighborhood. The property is in great condition, going to inspect it further next week and get some info on the roof and age of other items, but overall extremely well kept based on pictures. The only problem is that the condo will not qualify for conventional financing because the building is mismanaged and has no HOA. It's priced accordingly, well below market value and I'll be able to rent out this 3BR 1BA for about $2400 once I update some things, add washer/dryer, and new coat of paint.

Here's my question.. obviously I have to go through a portfolio lender to acquire, but then after that's all said and done.. how does one go about setting an HOA so that I can refinance out of that portfolio loan and pull out the cash from down payment? What if the other occupants are unwilling to contribute to the HOA? Has anyone had any experience with this sort of thing?

One problem I foresee is coming up with the initial premium for the building's new insurance policy (which clearly it does not have at the moment). It'll take some smooth talking to convince them to pony up a few hundred dollars right off the rip.

Thanks BP!!

Christian

That's a good idea Michael, perhaps it might be wise to just snap it up and rent it out on a month-to-month or just a shorter lease span so it ends around June or July of next year. Thanks!