All Forum Posts by: Donna Dade

Thank you!

Thank you Todd and hello/thanks Colleen.  Gas and Electric (which are both on) and I asked the listing agent to change that statement to water only.  And thanks for the suggestion about my own agent.  I'm not sure how my agent would get paid if the offer has to be submitted to Fannie Mae by that listing agent on the property. Who gets the commission on a Fannie Mae home?

yeesh....  thank you :

Hiya BP,
Anyone willing to offer some advice?  I've been trying to buy my first property and made an offer on a property (I'm dealing directly with a listing agent since it's Fannie Mae).  Mine wasn't the highest one and the seller went with another offer.  That buyer has since backed out "for personal reasons" and the listing agent offered to submit a revised offer for me. 
Here's my issue....
My original offer stated that the utilities would be on and de-winterized prior to the inspection.  Now, the revised offer that the listing agent has provided for me to sign has that part replaced with "The condition of the property may not support the connection of utilities and no repairs will be done by Purchase or Seller to make the property available for connection or de-winterization".  Aside from it bothering me that there's any change at all except what I myself changed (my offer price),  I thought I'd ask him exactly why that was added.  The agent said that the water pipes did not hold pressure.  I've decided that if I knocked a few thousand off of my offer, I'd be ok with just that though it's a red flag for me.  But, I am NOT ok with the possibility of other utilities not being connected and more importantly, included in my inspection.  Is it possible to include a contingency phrased in such a way that says I'm ok with the water not being connected but I would like all other utilities on?  How can I phrase that as a contingency?  Or should it be subject to something else?   Sorry if this isn't clear.  I am learning, :)

Donna

Just wanted to say thank you guys again especially for the answer about maintaining the grass.  That is exactly what I was asking!  Rob, I sent you a Connect invite.  

Thank you!

Hello BP!

For starters, the "Pro" designation under my name is (for now) a lie! I'm not even a newbie. I've been lurking here for about a year and I finally decided to say hello and get started. I upgraded my membership in support of this community that has unknowingly helped and educated me during this past year. Thank you all!!!! I'm now officially looking to purchase my first duplex or +3/+2 SFH and do a live-in flip. I'd like one that needs some updating and/or repairs but one that is inhabitable along with a few other specific criteria. And, I do like those older houses. I live in California but will be moving to Ohio when I find the right property. I'm interested in the Cleveland area and will not move before February, even if I buy sooner. Mostly because I think I will die if I arrive in snowy weather, haha. For now, I'll be trying to network a bit and find a real estate agent that is familiar with investor clients and the markets in the Cleveland area and someone who would love to work with me and my love of older properties. I love the idea of a messed up property making the transformation and while I know I am not ready to manage anything of that sort, it doesn't stop me from wanting to watch it done somewhere else. So, I spend time on the internet just looking at properties "just because" and I'm embarrassed to admit how much I actually do that, haha. I don't have a real story on how I got here but I am one of those people who ordered the late night "Make a million dollars in Real Estate!" course years ago and then put it away after seeing what that really was. Then I bought books and watched YouTube videos. I'm here because I stumbled onto BiggerPockets.com somehow, the light bulb came on and I realized for the first time that there was a real path toward what I wanted to do and a community full of other people in various stages of doing the same kinds of things. I can't wait to look back and offer some insight to someone else one day. See? No story. Anyhow, that's me and this is my official introduction! By the way, I'm open to other areas too and I'm ready to go. Until then, I have a few questions if I can get anyone to bite. Thanks so much in advance! It's really great to be here! :)

1. I particularly like low maintenance landscaping....rock/stone, solar lighting, mulch and "unkillable" plants (even some *gasp!* artificial grass around walkways). I never see that on most of the properties I seem to find, just huge areas of grass that I would think need to be watered and/or cut a LOT only to be killed during winter. Is there a practical reason for all that grass and all that maintenance?

2. Is it too soon to find a general contractor? I have $$$ questions that will affect my decision to buy. Then, on the one hand, I don't want to acquire something that sits for months because I can't find a GC not booked for the next 10 years. But on the other hand, I have no project yet so can't really ask for a commitment or even be sure I'll need one at all. Can I assume my soon-to-be realtor will have contacts already?

3. Can I expect my soon-to-be realtor to help me with determining ARVs?

Looking forward to meeting some of you!

Donna