All Forum Posts by: Frank Martielli

I don't like the idea of Rhino. If a tenant doesn't have the resources to come up with a security deposit I don't want them for a tenant. Someone else can take that risk if they would like. I am not prepared to. For that matter, being at the "mercy" of a third party is one I never put myself in, if at all possible.

If I, as a landlord, should decide I will let my tenant use their security for rent that should be my decision and my decision alone. That is my decision to make. I deeply resent it is being made for me. My lease specifically states this is not allowed, and now I am being told I "have" to. Every day I wonder what's next.

I am burning mad about this and there is going to be a lot of fallout, as there should be.

Yes that is correct. This is effin OUTRAGEOUS.

Why didn't they just invite all the tenants to trash their apartments while they were at it?

The courts will be flooded with damage cases. Well, that's fine. If and when my tenants move out I will go over their unit with a magnifying glass and black light.

I wonder if this is even legal.  A few weeks ago Comrade Murphy said he couldn't interfere with private contracts when he was asked to put a moratorium on rents. How is this any different?

I hope someone sues to put an injunction on this. I can't imagine this holding up in court.

@Mark Lladas Hey Mark thanks for your reply. I'm actively looking for a home that would fit my criteria. Ideally, I'm looking for a house that has good "bones" but just needs updating inside. This is going to end up being my primary residence, so for example, I'm going to want to redo the bathroom and kitchen the way I want so I'd be looking for a house where both need updating.

Right now I'm at the point that I'd like to start researching contractors. As soon as the market settles down around here I'm going to make a move. I would have been ready in a month or two, but not with everything going on for a variety of reasons. One of which I want to see what this is going to do to prices.

So with all that being said, my goal with the original post was to find 3-4 contractors that have done work under the Homestyle loan process (and are still willing to again after they did) and start researching them.

As @Paul Welden suggested, I am looking to work with a GC that has done this before. Personally, I wouldn't want a GC unfamiliar with the process especially since this is going to be my home and not just a "house." For that matter, I'm hoping I'll never have to move again once this is all said and done.

I hope that makes sense to everyone, and I appreciate the feedback from you all.

Frank

Hello All,

Wondering if anyone knows of a decent contractor that does work in Middlesex County that has experience with the Homestyle process,

This would be on a single family, owner occupied home. I'm familiar with both 203k and Homestyle, but I think for us Homestyle is a better choice because of the greater flexibility.

I've found several contractors that do 203K on my own, but I'm having trouble finding ones that do Homestyle specifically.

Thanks everyone, be well.

Frank