All Forum Posts by: Colleen F.

@Jennifer Moscatello we have an addendum that says it was x amount full at occupancy and the difference will be reimbursed either way at vacancy plus a restart fee if they let it go empty. We take a picture.

@Marc Shin what is the occupancy? Length of stay? If its short term lower occupancy go for a smaller machine if it is larger occupancy you want a big machine. Why overdo it?

@Stanley Hendratna offer furnished. Use something like an estate auction service.  Sell at consignment stores.

@Jay Hinrichs having tried to deal with Rocket I can see why.

@Jay Hinrichs  I think that assumes the banks will lower the fees.    Also you can make the same argument for brokers that people make to favor the relator model (i.e. you get a better deal). I am not sure it is true in either case. I also think you can get a bank loan in most states and I don't know what the split is on how many people do. Basically, the big lending companies like rocket and quicken have pushed the home buyer away from local banks and that in part changed the market. My parents weren't going to a mortgage broker, they went down to the local bank. So that was the climate of the 50/60s. We live in an electronic world so people don't favor doing that anymore. And as a builder don't you have a prefered lender who is easier to work with that you refer cliente's to.

@Calvin Thomas Grant funding I think will actually increase prices as the grant money comes from taxes so you are paying it anyway. It will drive up prices to compensate. Other people will want to profit. 

The real thing that will decrease housing prices is increasing supply, either by building more homes in an affordable range (and therefor probably smaller). Or you decrease demand.  Less people become willing to live in high priced areas.  

@Jonathan Umana    First a couple questions.  Is the kitchen for this apartment on the first floor and you intend to rent the 2 bedrooms on that floor? Are you planning on another unit (with kitchen) in the basement or just a crash pad for you when you are in town? I am thinking your parents live on the second floor.   Regardless add the egress window, as you will need two means of egress.  What is the laundry situation? Can the first floor access laundry in their unit or in the basement without going through your potential space? Is it possible to get from the basement to the second floor without going through the first floor unit? If those are possible I think it is a viable solution. The easier solution is to make the basement technically part of the 1st floor even if you won't use it that way, getting a third unit approved is not something that will be easy. 

I don't know if a relator is what you need. You may need a property manager if you are going to be busy in law school. Also be picky with tenants and know the landlord tenant law especially if your parents live there you want them to be comfortable with who is in the unit. For example if they don't want animals state that upfront. Good luck

@Chris Lo Only California has significant EV registrations 35% of those registered nationally or 1.3 million EV registrations were in California in 2023. So I would not do it.  Also they can always go to a charging station or plug into a regular outlet. People won't pay more for it.  

@Brett Jurgens I am not sure it should be a climate score, I think it should be a disaster score. Its more about fires, hurricanes, earthquakes and mudslides. You can lose insurance and buildability in those cases. FEMA has had some targeted buyout programs for places that have multiple disasters. In the end you have to decide if you want to put your house/investment in the path of say a hurricane. I think insurance will dictate some of what happens on this front.

Also consider for many people the moves aren't about the factors you consider but they are tied to work or family.  I have a son in FL, hates it but that was where the job was.   I think climate change is actually less of a factor than employment availability, cost of living and where people have personal ties. 

@Karen Oduok  hvac is too big cost of an item to leave maintenance on the tenant. You either do it or remind tenants to do it and even then you would have to check they actually do it. 

@Kevin Zmick  I would also add your part of the city to get local perspective but it looks like you might be in Chicago?   A shorter term tenant could do fine for you because they are not bad but just people in transition, so you don't lower your standards.  You could swing to a furnished rental if that works for your area even with rental furniture but that is a different model. One thing people haven't mentioned is look for your own ad on the key rental syndicated sites and see if it presents well.