All Forum Posts by: Diane Tycangco

I hope you are right!

Hi everyone! Am thinking of buying a single family home then renting the upstairs and downstairs separately. It is zoned as single family home in Denver, CO. Would the electric and water company and the city allow me to have separate meters for each unit.  How much would this cost and how hard is this to do?

Thanks!

I called another unwarrantable HOA and they told me it was because 60% of occupants are tenants instead of owners, there were more delinquencies before but since they changed property management companies it is better now and that in the next few months, they have repairs coming up thereby depleting their reserves but after that they will be putting $8k in their reserves monthly.

I haven't been able to contact the first unwarrantable HOA that I was interested in.

My lender is telling me that it is not worth it to buy a non-warrantable property because the downpayment is higher, the rate is higher and if I want to sell it in the future, it will be harder to sell because of the same problem.  He says I am starting out already behind because of these additional costs.

It is such a wasted opportunity because the price is low, the cashflow is great.  But the reason why the price is low is because it is unwarrantable.

Should I just stay away from it?  Is it even worth buying?

What does this mean? 

There are many times loan minimums - that you wrote above.

How high is the rate?  I have a 804 credit score.

Is the property going to be hard to sell in the future?

$100k loan minimum is ok.

Hi!  I live in California but am thinking of buying a condo unit in Aurora, CO in the Robinwood complex which is non-warrantable.  Do any of you know why it is non-warrantable?  Delinquencies, low owner occupancy, etc...? 

Where can I get reasonable financing for this property?

Is it going to be harder for me to sell this in the future?  Is this going to hamper appreciation?

Thank you!

Thanks everyone for the input.  I was thinking maybe I am putting the cart before the horse?  What about just using the inspection report after my offer is accepted?  So my actually buying the property depends on the result of the inspection and the rehab cost.  The problem is the house's selling point is only its bones.  There are no pictures of the interior  online.  I am afraid it might be a big job.

Thank you for the swift reply.  How much would small be? $50? $100?  The property is in Sacramento CA.

Hi I am a newbie to all this but would to offer my two cents.  When I clicked on the link you provided and looked at the property info, I noticed that the Zestimate rent for this property is $1295.  If I were looking for a rental and don't know anything about real estate, comparing that to your rental price will give me pause - you are too expensive.  Secondly, I entered your address into Rentometer and it did come up with $1376, which I think is how you came up with your price, but if you look at the comps below, most of the properties upon which Rentometer based their median recommendation are a lot bigger than yours.  The property closest in size and location to yours at Purlane and Blanco 1056 sq ft .98 miles away is only renting for $1150.  It also has 3b2b.

Hi everyone!  I am interested in a property that needs fixing up and would like to bring a contractor with me when I go see the property.  First of all, how do I find a contractor who would be willing to go with me and see the property when my offer to purchase the property depends on whether the costs are viable and secondly, how much do I pay him for his time and trouble?

Thank you!

Thank you for all the info