All Forum Posts by: Dennis Wasilewski

For sure have a reputable company check that tank for rust. The tanks left to the elements are subject to a lot more wear than those in the basement. A leak would be an issue but it is buried tanks that cause the real headaches. 

Oil heat requires yearly service (like $200) as it is far dirtier than natural gas or propane. Other than that just don't let the tank run low (draw sludge and clog filters) or empty (need to prime burner yourself or get service appointment). I've had oil heat in my primary of 13 years, if you have more questions.

Santander offers HELOCs on investment properties. Or at least my loan processor asked me and mentioned a max of 70% LTV.

FCRA comes into play when making a decision in part due to credit report data. If you talked to a landlord reference and decline to rent then no notice is required. You should have a policy that indicates landlord references are part of the decision making process along with your other determining criteria... having this & following it protects you from claims of unfair housing. If you pulled credit and the applicant passed BUT then that landlord reference came in, I might consider sending the AA. Even the best applicant has something you could point to for adverse/reject reasons.

If it's a good deal I might be interested and could get you a finders fee or the like.

This reminds me of a YouTube video advising a HELOC instead of a mortgage. The trick was to 'treat it like a checking account' while putting your whole paycheck against the HELOC (mortgage balance) and just paying bills out of the account. Somehow through the power of amortization you were paid off in 5-7 years. Seemed bizarre. https://youtu.be/aPqrCrREUuo

Johnstown is in an extremely depressed part of PA. I wouldn't be excited about entering that market.