All Forum Posts by: Account Closed

I would definitely get solar don’t know how anyone uses t strategically. But I use it in my multi family homes attached to the common area since I pay for tenants utilities it is well worth the investement, low down payment, low payment option and it basically pays itself off and in the end its an added value..

Angel can you expand on this? I am under contract with a fourplex with common area lighting. Wondering if I should look into this?

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Originally posted by @Stephanie P.:

Originally posted by @Account Closed:

Originally posted by @Stephanie P.:

Originally posted by @Account Closed:

I have a fourplex under contract. FIrst investment property. I found the property card for it and it has remark : "Dwelling straddles adjoining parcel"

Is this something to worry about?

Who do I contact about this?

There is someone actually building a duplex right next door. The buildings are quite close.

pics

Thank you.

If the adjoining parcel doesn't convey just walk away. Even if you do get close to closing, you'll have a clouded title and it probably won't close until the issue is cleared up. Talk to the title company handling the transaction and ask them what to do. I've worked with several lenders on similar situations and the loan don't close until they have clear title and they won't have clear title unless the title company insures over the property line issue. Even then, it may not close.

I called the assessor. She said it looks like at some point there was a give take situation between neighbors to fix it.They directed me to an online plat. A survey was done in 2009 when current owners bought and it shows the dwelling within the property boundries. SO I feel better but I guess a survey will clear it up.

Unfortunately, it's not up to you unless you're paying cash.

If the title company won't insure over the dispute, a lender won't lend on it. You could pay for a new boundary survey (could cost a couple thousand dollars), but until then, a mortgage company won't lend on it. See if the title company will insure over. It's the only step to take.

Sorry, I am not quite understanding you on this.

After speaking with the assessor, it appears this was settled some years ago.

The current owners had a survey that checks out and shows the building fully on the parcel. I am ordering a survey regardless. $550

I'm financing it with FHA.

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@Andrey Y. will do in th AM. Going to try to hit the sack with this blinding sunlight!

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Originally posted by @Andrey Y.:

Hello all! Just down in Anchorage from the interior, for some salmon and halibut fishing. As always, I am always up to meet local investors, chat about the market, see what ideas we can get from each other.

Sunday, Tuesday, and Wednesday work best for me. Lets meet for a coffee or light meal. PM me and lets set it up!

Still here? I am not a local investor but here for a few months as my wife is a travel nurse.

Just put my first property, a fourplex, under contract back in SC.

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Originally posted by @Stephanie P.:

Originally posted by @Account Closed:

I have a fourplex under contract. FIrst investment property. I found the property card for it and it has remark : "Dwelling straddles adjoining parcel"

Is this something to worry about?

Who do I contact about this?

There is someone actually building a duplex right next door. The buildings are quite close.

pics

Thank you.

0 Votes

I have a fourplex under contract. FIrst investment property. I found the property card for it and it has remark : "Dwelling straddles adjoining parcel"

Is this something to worry about?

Who do I contact about this?

There is someone actually building a duplex right next door. The buildings are quite close.

pics

Thank you.

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Originally posted by @Brian Adzadi:

@Account Closed

Housing is limited across America. I don't think many tenants care what color of the house is. As long as it is in a safe, friendly neighborhood, it has some nice amenities and enough bedrooms; you could color it vomit green and people will still want to rent from you.

As for the roof, I think you lucked up. Free roof job? Hopefully the contractor did a good job. Just get the inspectors blessing on the house and snatch it up.

If the colors bother you, change it. If it don't leave it. If anything, just do some curb appeal with a couple of plants and greenery and you are golden.

jThanks. I'm not concerned with the color. I am wondering if it is covering up an old issue. Weird to change vinyl siding color on a rental that's only 8 years old. That coupled with the roof story made me wonder....may be too pessimistic.

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Offer accepted on my first investment property, a fourplex!

I'm probably going to post a bunch of questions today.

I am a very cynical person. It serves me well sometimes and other times is a hindrance.

I ran across a listing for this property from when the current owners purchased it back in 08/09.

Built in 1999. 3300 sq ft.

In these listing pics, the building was grey vinyl siding with green doors. It is now yellow with red doors. Would this raise red flags for you?

A little more info.....

The property disclosure said there was replacement/mod to roof in 2007. So an 8-year-old roof needed to be replaced? Story on that is there was a hail storm and people were getting new roofs. A contractor was deep into stripping the roof before he realized he was at the wrong house. So he had to finish the job. A free roof.

Obviously, I will let the inspector know to have an extra eye on these things, but would any of this concern you?

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All Forum Posts by: Account Closed

Account Closed has started 29 posts and replied 150 times.

Post: Do you lease or buy your vehicle ?

Post: Financing Multi-Family Properties

Post: Is adding solar panels working out for multifamily buildings?

Post: Dwelling straddles property line? Is this an issue?

Post: Just arrived, Anchorage AK ! Lets talk RE

Post: Just arrived, Anchorage AK ! Lets talk RE

Post: Dwelling straddles property line? Is this an issue?

Post: Dwelling straddles property line? Is this an issue?

Post: Would this color change concern you?

Post: Would this color change concern you?