All Forum Posts by: David D.

With all due respect I would not turn it into a duplex.

From what you said it is a 3br 1 and 1/2 bath. It does not sound like you have the funds to do a major rehab and it would cost some money to put in another full bath if you don't have a network of contractors and are just calling out of the book. Also, have fun dealing w/ L & I to get permit if it not zoned for a multi unit property.

Get a property manager from your area and rent it out. Pull out the equity before you rent it out so you can get primary residence rates and buy another house

Good Luck

Hi all

I have been looking at buying a real estate investment franchise and was wondering if anyone has any information hey can give me.

The company is Sunrise Properties and they specialise in short sale real estate. The short sale process looks to be very complicated and they say hey have the process down to a science.

Can anyone give me info before I spend my hard earned money

Thanks

I have to agree. The more lending options that I have the better. From what I have learned conventional lenders have taken up FHA guidelines beginning last Nov. My current project I had to put $4,500 is escrow because of some missing shingles. :badwords:

I think it is buyer be beware. If you are wiling to sign on the dotted line you better know what you are getting into.

Hi everyone

I am an investor in Philadelphia and Delaware that has a question about double closing (or any other way to do this transaction).

I have contracted with the owner of a multi unit mixed use property to buy it in 6 months for $X. I have from June 1st until the 6 months are up to rehab, list and sell the property. I have contractors and have no problem getting it done in that time frame.

My question is how do I handle the closing? Can I do a double closing or will seasoning issues come into play? Should I have the current owner list it and have him give me the difference between our contract and what I sell it for? I have three other properties going at the same time and can not carry this one as well, but LOVE the deal and know I can make it happen.

Any info would be of great help.

Thanks