All Forum Posts by: Elena Jobson

J Beard I intended to keep it for 2 years at least to avoid any capital gains taxes. I was going to buy more of a fixer upper but I opted not to because I just didn't want to have to do a ton of work to make it what I wanted. In retrospect I wish I had, because there's not a lot of sweat equity to be added at this point.

1 month exactly.

This is less of an investing question and more of a real estate question, but I would really appreciate some advice from you experienced pros. I recently bought a flip (my first mistake) for my own use as an owner occupant. This inspection went well and besides a few things, that I asked for on my inspection objection, mostly everything seemed to be OK. I went ahead and closed without the seller having completed all of the inspection objection items (my second mistake). I was in a pinch to close quickly and I trusted they would complete the work in the following days (my third mistake). Anyway it's been a month and every time I try to do something, it's 10X more difficult than it should be and more expensive. Every time I turn around, there's something going wrong in this place, and I am just at my wits end. What would you do? Some things to keep in mind: 1. I am in the Denver metro market, one of the hottest in the country right now. 2. I have a lot of money tied up in the house, but I fear if I sell too soon I will LOSE money, I don't want to lose money obviously. 3. I do have a one year home warranty. 4. This was a complete rehab, everything is new from the drywall to the floors to the driveway to the appliances, even the exterior, but the home was built in 1955, so it's an "older" home. Can anyone help me out?! I am beside myself. I work 50 hours a week, I am a single mom, I have a great career and I'm trying to start out in RE investing but I feel like I made a horrible mistake in buying this house. Any advice would be much appreciated. Thank you.

Smoking pot hardly makes you a "druggie." And as far as the pot smell, even if this gentleman was smoking incessantly in the unit, the smell would disappear in a matter of hours after he left and stop smoking. You mentioned "doing the right thing" the right thing is probably to refund his security deposit based on the condition he left he property in, not based on the fact that he smoked pot. You might call someone who used pot a druggie or a drug addict, maybe do some research before you condemn something that has helped countless people, from cancer patients to children who suffer from seizures to everything in between. And remember, do the right thing.

Thank you for sharing with us.  You are awesome!  Very encouraging.

Yes I have issues with the app as well.  My main problem with it is that you cannot do colleague requests.  

Please count me in! Awesome idea!

@Joseph Leonard QCD Stands for Quit Claim Deed. It is a type of conveyance usually not associated with exchanging of funds. Often times people do it to change how title is held. For example, Let's say I got married and I wanted to QC my husband onto title (I think FL is a homestead state so that wouldn't apply) but I would use a QCD to add him. Or let's say I got divorced and changed my name and I wanted to QC title into my maiden name. Still another scenario, I dealt with this today, Let's say I hold title as an LLC but I want to refi, to get a loan against the property, it has to be Quit Claimed into my individual name. I have also seen people "trade" properties via Quit Claim. I not advocate quit claiming: for one, it can void your title insurance and for another if you have a mortgage, it would break the terms of your loan.

I would highly recommend not going part time until your loan closes. When you're self employed it's WAY more difficult to get a loan approved and I think you have to prove income as being self employed for 2 years.

Do you have a title person who can help you with a search? There typically needs to be a "value deed" for there to be any quit claims afterward. You might have a title defect on your hands. I am not sure how it works in FL but typically the title agent would have to do the leg work to fix any defect in title, not the buyer.