All Forum Posts by: Grayson Hussey

Thanks @Carol Frome! I offered on this property and my offer was not accepted, so I've moved on. It's good to hear your experience and I'll keep your advice in mind if anything similar happens in the future!

@Anson Young Has this event filled up? If not, do I need to register for this event on Meetup, or is indicating here enough? 

Thanks for the information and advice @James C. I'll be sure to take it all into consideration!

Thanks James! Can you elaborate on what you said about the CO? I'm not sure what that is and who issues it. For the appraisal, I'm hoping to use a VA loan and if that doesn't work, then probably FHA. As far as I know, I have no control on who will be appraising, nor any contact with them.

Hey everyone. I found a property that is five units, but the seller is renovating one of the units and the listing says that it could be converted to a laundry room instead. This would be the only way I could get the property because I will be using a VA or FHA loan. The problem is that I have no idea how this would be properly documented and verified. I also have no idea what authorities would sign off, nor which parties would need to take what actions in order to go through the process.

Can anyone shine some light on the situation?

Thanks!

P.S. Bonus points if you can offer guidance on how to go back to five units... legally, of course.

@Dorothy Ma If I read the zoning correctly, this particular block can only be duplexes limited to two stories. I think they made it a triplex before it got re-zoned. In any case, it seems high and I guess that might be why such a good property has been listed since July!

I'm looking to get into a multiplex property in Denver and came across this property. The one side is listed for sale individually for $660k, and I found this posting on Loopnet: http://www.loopnet.com/Listing/1550-1552-Perry-St-...

I'm not really considering attempting to purchase it, but from an academic and market understanding viewpoint, I have to ask: Even with the crazy valuations and sales prices, is it worth this much? I'm having a hard time believing that this triplex/portfolio (does it make a difference with separate deeds?) would appraise for $1.4 million, or even much above $1m. Even the single side at $660k seems a little high.

What do you think?

@Taylor Chiu It seems like I was either dealing with someone who was misinformed, or who was blatantly lying in order to get me to refinance with them. Either way, not good! I found a local credit union who would open a HELOC without batting an eye at the VA loan.

Is bumping an acceptable practice on this forum?

I just started the process to open a HELOC on my primary residence, which has a VA loan. I'm waiting to hear back from a couple lenders, but the first one who got back to me said that no one offers a HELOC product on a VA loan. His solution was to refinance into a traditional loan and open a HELOC on that, or to do a cash out refinance. This sounded strange so I started Googling. As far as I can tell, there are plenty of sources that say you can open a HELOC on a VA loan, but I haven't found anyone that specifically says they have that product.

Does this sound accurate? If he is wrong, can you recommend a lender that can offer a HELOC on a VA loan?

Thanks in advance!