All Forum Posts by: Eric Lamberton

Hi Abhishek,

I have something that may interest you. Message to follow.

I need help finding the right person. I have a house between Cedar Park and Lago Vista that I've been using as a medium term rental.  It's been too much for me to manage personally, but if someone could get a better interest rate as an owner occupant AND benefit from the tax exempt, a house hack might be a great opportunity.

It could fairly easily be converted to an efficien apartment downstairs and a 2 bed, 1 bath upstairs efficiency with a shared laundry space.

- $325K fully furnished.

- Built in 2022

- 3 bed, 2 bath

- 1 car garage

- 1164 sf

Features:

- huge 240 sf balcony

- garage pre-wired for electric car charger

- walking distance to dining/live music

- 1-min drive to Lake Travis

- 15-min to Cedar Park shopping

- Excellent public transport options to downtown ATX

Greetings BP Community.

I'm looking for private (or hard) money for finishing up a TriPlex in Chattanooga, TN.   I'll be happy to share details and numbers. Suggestions and referrals appreciated.

Thanks!

Let me know, I may be able to get that done for you.

With the cost of laminate being relatively cheap, I'm not sure id would be cost effective to refinish any old tops.  My guess is that you could replace the tops with some newer, better looking laminate relatively cheaply.  I dare say, Ikea has some pretty good looking, affordable stuff and it's usually in stock.  Throw on a cheap 4x6 subway tile back splash and you'd be in it for *maybe* $300 in materials.

I'm looking at this off-market Tri plex, and I'd appreciate some feedback.  there are two tri-plexes, almost identical in size, age, and condition.  The picture is of the one, currently un-occupied unit of the 3.    The local property manager confirms that rents can be increased to $600-500/month per unit after renovations.

Thanks for your feedback.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Your plumber probably couldn't fix it even if you wanted him/her to anyway. If the city shutoff is broken the city will probably have to turn the water off to several of the adjacent properties too.   The meter and everything on the street-side of it is city property as Matthew said.  

When you do call, just say it's broken.  They may make you pay, but just don't offer the extra information. 

I've seen a more severe break when a loaded concrete truck rolled over the top of the water meter box. There is nothing you can do but call the city utility department to fix it.  Lesson learned. 

You might consider doing the renovation, but also subdivide the lot and build an Accessory Dwelling Unit (ADU). That has been very popular here lately.

Hi @Alexander Felice,

I've been following your suggestions pretty close and mentioning the delayed financing options, and it seems as you said: most loan officers aren't familiar with the method. Is this the fannie mae reference that specifies the %LTV limits vs HUD cash out? https://www.fanniemae.com/content/guide/selling/b2...

In my particular case, I'm looking at a triplex; and it seems to note that for small multi family the LTV max is 70%.

Thanks!