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All Forum Posts by: Erin Margaret

Erin Margaret has started 7 posts and replied 49 times.

Post: Could you review and let me know your thoughts?

Erin MargaretPosted
  • Investor
  • Hortonville, WI
  • Posts 52
  • Votes 25
I suggest taking a new picture of the kitchen without all the stuff on top the cabinets etc. also it is always nice to have more pictures of the house it self. People want to see the bathroom, see the bedroom especially if it has a nice size closet. And living room area. They can look up the map them selves. Is not including a fridge common on your area? I've never heard of that in a rental before.

Post: Need your advice please!!! Seller filed bankruptcy!

Erin MargaretPosted
  • Investor
  • Hortonville, WI
  • Posts 52
  • Votes 25

A lot of small credit unions in my area use equator to list properties they own it was my understanding that they went there before they got an MLS number but I don't know if that's a fact

Post: Need your advice please!!! Seller filed bankruptcy!

Erin MargaretPosted
  • Investor
  • Hortonville, WI
  • Posts 52
  • Votes 25
If you have a few spare days of your life to waste yes feel free to contact the bank and follow it up the chain to the foreclosure office who will most likely tell you that it is in their files but they won't have a price for it for months and that you should keep checking equator.com for the address (or whatever their website of choice is) Otherwise keep your eyes on it and wait, keep any realtor friends you have checking for it and maybe set some Google alerts. Be prepared to wait a few months to a year for anything to actually show up

Post: To paint or not to paint?

Erin MargaretPosted
  • Investor
  • Hortonville, WI
  • Posts 52
  • Votes 25
I second dewain, it's brick, it absolutely does NOT need paint. It looks like it could use a good pressure washing, but that is easy and in the long run you are saving your self from having to repaint it again in years to come. Leave it. Not worth the cost at all.

Post: Eviction for lease volation

Erin MargaretPosted
  • Investor
  • Hortonville, WI
  • Posts 52
  • Votes 25
Contact him direct first before pulling his credit. Give him notice of a needed inspection and move from there. When you are inspecting you will be able to find out the situation for sure and document any lease violations, then move to eviction.

Post: Should I scrap it and start new or renovate and add a 2nd level?

Erin MargaretPosted
  • Investor
  • Hortonville, WI
  • Posts 52
  • Votes 25
Make sure those old bones are strong enough to support a second story. Open up a wall check the size and condition of studs, headers etc. is the foundation slab or poured? Might want to walk through it with an architect to make sure a second story is even possible. Up here we have a few salvage companies that will strip it down and take what they can use then you can have the rest hauled off. Happy tree hugger compromise ;)

Post: Investor from Wisconsin

Erin MargaretPosted
  • Investor
  • Hortonville, WI
  • Posts 52
  • Votes 25
Welcome! Glad to have more faces in Wisconsin!

Post: Lender refuses to set a closing date.

Erin MargaretPosted
  • Investor
  • Hortonville, WI
  • Posts 52
  • Votes 25
Re derrick: Pending action for being too slow at their jobs? What legal reason would I state?

Post: Lender refuses to set a closing date.

Erin MargaretPosted
  • Investor
  • Hortonville, WI
  • Posts 52
  • Votes 25
I am selling a commercial property up in Alaska, I accepted an offer Jan 13th with a planned closing date on feb 15th all of our paperwork was in order, the appraiser and inspectors both checked out fine. Feb 15th came around and they delayed closing due to the title company not yet receiving the paperwork. The lender is a local credit union, when my realtor or I contact them (which has been at least once a day) I get the same message: "We will be submitting the file to our Closing Officer and she will coordinate with the Title Company. When she coordinates with the Title Company we will have a better idea on when we will be able to close on this transaction. " Over a month and I still don't have a closing date? I have several other projects in the works that need the money from this sale to be completed. At what point would it be advisable to pull the plug on this offer and go for a lower offer with a better lender?

Post: How to cash out

Erin MargaretPosted
  • Investor
  • Hortonville, WI
  • Posts 52
  • Votes 25
Ugh the interest and fees, that is always where they get you. Have you looked in to getting home equity line of credit on the home you are purchasing? It might not be as much as the amount you are using to purchase, but the interest rates are some times better than traditional mortgage rates around here.