All Forum Posts by: Marcin G.

I think it would be nice to open to the outside. Do you guys think asking the tenants to cover the cost is feasible? Or should I offer 50-50 cost split?

Tenant is moving in May 1st and asked if the walk-in closet door can be made to open to the outside. I can see that would be more convenient. I have fully renovated the apartment which looks great and would not like another expense. How could I best handle this request?

The Fannie Mae and Freddie Mac guidelines are a little ambiguous when it comes to using appraised value for cash out refinance. I’m trying to get a clear answer on when that 6 months waiting period is actually satisfied. Is it the application / lock date? The date the appraisal report is completed? The date of the closing?

Thank you all for your inputs. 

I will look into hiring a professional insured tree service to remove the tree.

I have time now because this season all of the walnuts have fallen already.

Having that said, in general, who is responsible if a branch falls on a tenant's car parked in a driveway and makes a damage?

Last option would be to go with the estimate from tree service company to remove two trees (the walnut and oak as per picture on craigslist ad) for $3,500

That would kill all my cash flow for half a year --- omg

Really that much... wow

Thank you all for your inputs.

For now, I posted an ad on craigslist

Also, I will see if I can find a contact to a local lumber mill as Thomas S. suggests.

@Megan Philips and @Thomas S. 

I am not sure if it is a black walnut. The nuts look exactly like in the picture in my previous post.

If the wood is valuable, I would be happy to let someone cut it down for free.

Any ideas where I could make such offer?

My rental has a driveway for two cars where tenants park their cars. They also can park on the street next to the house with 4 free township parking permits which they got. It happens that there is a large walnut tree close to the driveway and the nuts fall on the cars in the fall season. These walnuts are 3~4 inch in diameter and quite heavy, so they can make a dent in the cars I think: https://www.farmanddairy.com/wp-content/uploads/2014/09/DickieBirdFarm-BlackWalnuts.jpg 

The tenant wrote to me saying if I can trim the tree or find some other quick fix because they noticed dents on the hood of the car.

How do you suggest I should handle this request?

Thank you for the info! I would like to dive in a bit more into this:

If he just buys the condo, and then when I qualify could we refinance into my name I hope minimizing costs when comparing to two closing costs? 

Regarding LLC - I like this scenario, but not sure if we could get a mortgage for a new LLC, but I will ask.

I also fund a broker that prequalified me for Portfolio Mortgage, but rate is %5.25 and 2 points. I am also considering this option with the plan of refinancing as soon as possible.

What do you think would make for the most cost effective plan?

1) He buys it, then refi or I buy from him 

2) We form LLC, get mortgage under LLC and then I buy him out

3) Portfolio mortgage and then refi

Hi,

I found a condo for an investment with tenant already in placewith a lease till 2019. My problem is that I cannot get conventional mortgage because I am only 3.5 years after foreclosure of condo in Florida. I spoke to my brother who has perfect credit and he is willing to help.

What is the best way to go ahead with this investment?

1) Can he just co-sign the mortgage? I would be the owner on the deed and do taxes for this investment property, and be responsible for any tax on capital gain when I sell.

2) OR the only way would be if he purchases the condo for himself?

3) What other potential issues I should be considering?

Thank you for any guidance in advance!