All Forum Posts by: George C.

Easy to say "sell", if he needs to keep it rented to keep up on payments, he needs tenants. Selling isn't a real option for a lot of people...

I would tell them to get a stair lift on their own dime and enforce the lease. That was a lame excuse on their part.

Make sure you saw & got a copy of their ID, to make sure they are the real folks on the credit report. I'm sure there are reasons for them wanting to rent vs. buying, but I can't imagine it would be for long, though. Judgements, people are sloppy, or they may feel they don't owe them, they are in the "right" so why pay them, etc..

Check out modular built homes. The last one I built was a 3300 sq foot center hall colonial with 9' first floor ceilings, a wood burning fireplace, 2x6 exterior wall construction & R-19 in the walls, all low-e glass...it cost me $106K delivered & set, on a new 31'x52' foundation that cost $25K. This one was done in 2009 and could've been sold for $425K, two years earlier about 600K. This same house would have cost $300k to have a builder like my self build, weather stick or modular. I think modular costs are around low $30's per sq foot over all. For a novice, gc'ing a modular that comes 85% done is alot easier to handle. I bought from Superior Builders / Muncy Homes in Muncy PA. For kicks and giggles call them for a price. They only sell factory direct to a licensed builder, but in NJ, for a $200 fee anyone with out a criminal record can get a new home builder license, no tests or anything like that. Maybe Virginia is an easy state to get a builder's license, too.

Sounds to me that the bank is treating your letter as a bluff, or not concerned till you are the actual owner, or they hope to be out of the deal by then. They did disclosed the fact in their listing, so they feel they are covered.

Sound's like they are saying that only the current lot owner can enforce their rights, not you, or at least aren't taking you serious till they are sued over it. They may be bluffing you... You need a r/e attorney at this point.

I would tend to think that banks are used to getting all types of threats & rants and simply dismiss them, they only move on the ones delivered by the sheriff, a laywer letter may get them to notice a little.

Very interesting situation, a learning experience for us all, please post updates to this.

What about insurance on a pre 1978 home? When I went to switch my old personal residence to a rental policy with lib mutual, they insisted on me getting a lead certifcate for the house before they would switch it. I went with State Farm who didn't ask for it, and turned out to be a whole lot cheaper anyway. But, how long before all the other insurance companies follow suite with either demanding lead certs or excluding coverage for LBP issues? I'm sticking with post 78 homes from now on. I'm lucky that they are plentiful around me.

I had one at my own house, then got a letter from my insurance company about having to remove it, or else they would drop me. I would never allow one at a rental, ever.

I had a pot belly pig for over ten years, she lived in the house and used a litter box without any mistakes. They are very smart animals. Mobility is only a problem if they over feed it, otherwise they can move very swiftly & jump three feet in the air if they need or want to. If your applicants check out good otherwise, I would rent to them, you know they'll be staying a while as it will be harder to find someone else to take a pig.

Jodi, an llc is it's own entity, I doubt you would have to disclose that you husband it the owner of the llc, you could always ask your broker about it. If you name the llc, joe blow llc & your Sally Blow you might get a question about it. If you name the llc someting other like, abc investments llc, you should be fine.

I've found things on the mls, a few good deals. "Realtor dot com" has listings that don't make the mls. I got my best deal (an reo in 2003) by just google-ing the name of the town and an add for house popped up, a house for $10K, I bought it for $3K. Yes, a house in pa that was in clean livable shape for $3K, it was amazing. That house rented for $425 a month.