All Forum Posts by: Delmas Edwards

Whats a few ways to determine your rent prices?

Baathroom looks plain to me so a little more updating may take place.

Bedroom Bungalow, Im going to turn this in a master and prolly add a bathroom 

The rest of the master bedroom w/ walk in closet

Unfinished basement I mentioned. 

This pipe to the right is cast iron. Someone told me that it should be updated to PVC. What is you guys take on that?

Sidewalk cracked up so I would like to re-do the drive way. 3k for driveway? And will do landscaping as well.

Pleas tell me your thoughts on this project. Very much appreciated!

what I mean with unfinished basements is by completing them but how much to add to them? 

How about unfinished basements? And adding bathrooms? I just don't want to put a lot of money in a project that wont benefit me. I do wanna turn this property later on into a rental as well.  

Im in a process of closing on my first home using FHA. I'm going to live in it for 1-2 years. To add value to the home what certain upgrades should I do and what ones I shouldn't do?

Im in process of buying a home in Eastpointe, MI 3 bdr 1 bath 1,330 sqft FHA for 82k but theyre paying the full 6% concessions. So purchase price: 82K FHA: 3.5% down -$2870 Escrow setup and tax perorations- $2500 1 year insurance paid up front -$1,000 Total Cash close- $9370 Credits from seller- $4920 Remaining Cash to close $4450 After I pay $1,000 EMD + $450 appraisal deposit= 3K at closing. I want to house hack too but what I want to know is am I doing ok on this transaction? The property did sale last year for 25K but it was a fix a flip.

Listing agent is charging buyer $399 compliance fee to Buyer, I have provided the offer guideline form below for you to review. This fee, as well as my office fee of $395 gets paid for at closing. So it will not be a out of pocket expense. It is not typical for Listing Agents to pass the sellers fee to the Buyer, but its something this agent is doing. Is this common?

He stated that I have to account for the upgrades. Some guys that flip houses will sit on it for an extra 2-3 grand. He know because he did them too. What are the best options? FHA Loan 80K but if I decrease my debt to ratio I can buy 100K.

He has been doing this for successfully 15 yrs, his team does 200 transactions a year, so he pretty well versed in the market, and while he absolutely want me to get that price, He thinks they will counter offer back to listing price or close too. He just dont want me to lose that great place because someone else is offering a higher price.

He said he just spoke to the sellers agent briefly. So he know he'll reduced it to get it to sell. But they wouldn't really want to reduce it another 10k, and give me $5400 in concessions....thats a huge difference-$15400 to be exact. It's 18% off the price. Im asking the seller to give the max amt in concessions, so he said they are going to be looking to see a solid offer.