All Forum Posts by: Peter Green

if it's wet and you don't take it out,

the smell will never go away and

your apartment will always smell of u know what......

plus it's a health hazard....

Be prepared to rip out sub flooring too....

Thx

I have a tenant in Sacramento, CA requesting interest on his Security Deposit.

He claims the last property management company gave it to him.

My research has provided me with the following...

Paying interest on security deposits

There is no state law that requires payment of interest on security deposits. Rental owners are not required to pay interest on security deposits to their residents unless a local ordinance requires it. Currently there is no local ordinance in the eight-county Sacramento Valley area which requires the payment of interest on security deposits.

Does any know about Sacramento and interest plz ?

It is also not one of our rent control cities, yet...

In Contract to purchase a Multi-Family Property at just under a million in CA.

Just had the roof of building and parking structure inspected, $104,000 replacement cost. Condition of building roof is worn and poor. One of the parking structures is very dilapidated, other is ok.

Same realtor is agent for both buyer (me) and seller. Could be conflict of interest.

Am currently in Escrow, however have not signed off any Inspection contingencies.

Don't want to have a problem with my loan appraisal.

QUESTION :-

Should I (a) Ask for a $104,000 Price Reduction (b) ask for the seller to fix it (c) Offer to split cost 50/50 (d) Break Contract

p.s. I am v. interested in buying this building, because it cash flows well, however $104,000 is too much CASH !!

Can I break Contract for free ?

What to do ?

Thx

This property is in Tulare County, CA

What I am concerned about is roof is bad and bank will not finance.  I know how to repair these kind of roofs (flat) because I have done it before on another building with a similar problem.  

The insurance company has given me a # already unseen.

Should the seller be liable for the whole cost ?

Can I walk without cost ?

Thx

In Contract to purchase a Multi-Family Property at just under a million.

Just had the roof of building and parking structure inspected, $104,000 replacement cost. Condition of building roof is worn and fair to bad.    One of the parking structures is very dilapidated, other is ok.

Same realtor is agent for both buyer (me) and seller. Could be conflict of interest.

Am currently in Escrow, however have not signed off any Inspection contingencies.

Don't want to have a problem with my loan appraisal.

QUESTION :-

Should I (a)Ask for a $104,000 Price Reduction (b) ask for the seller to fix it (c) Offer to split cost 50/50 (d) Break Contract

Hi,

I am considering buying a duplex to rent out one unit and live in the other.

Hoping to get FHA loan with 3.5% down

Can anyone tell me please if I am able to write off ALL the mortgage interest ?

Thx,

Peter Green