All Forum Posts by: Marci Stein

Put offer on house with tenants in place. just got the lease sent to me to review and it starts in 2008 with NO expiration date....is that acceptable,or does it automatically expire after a year?
Also, lease has incorrect address on it-it says # 97 but it's 128 (correct street, at least). Also, lease states 7 people can live there (its a 2 bedrm).
can i change thta?thanks!

I'd like to buy a fannie mae duplex ...the first 15 days on market is for owner occupancy only . My plan is to rent out 1 unit, stay there for 6-12 months
fixing it up, and then rent out the 2 nd unit.
Does that qualify for owner occupancy?

I allow pets ... if I chose the right tenants, they are people who are responsible enough to live in my house,and responsible enough to care for their pets.

its a cash deal...i offered 22,000
a short sale , waiting to hear from the bank

rent is verified at 875 month, plus utilies.
taxes +insur= 500 month.
good deal?

No PM....thanks for reminding me about the sec. deposit....guess i can make thta part of the contract, right?

Simon -this is a short sale-the house is valued at 68,000 and the area in whuch the home is located has a very high tax rate.

Great info-- thanks everyone!!

good deal upstate NY-2 bedrm house for $22,000. Taxes $5000 yr.
Realtor states tenants pay $1000 month,not sec 8, not includ. utilies.
can i rely on this info? what if turns out to be untrue and rent includes heat ?
how can i verify realtor info? can i ask to see past few months rent checks?
seems to good to be true get my money back in just 3 years!

there are places in Queens, like Bellerose, where a duplex can be bought for under 300,000. Alternatively, Middletown , NY,
a triplex costs under 200,00.
But as long as you know the South well why not buy there?
i sent you a PM since i have a very similar circumstance as you.