Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Jimmy S.

Jimmy S. has started 95 posts and replied 234 times.

Post: sewer connection agreement

Jimmy S.Posted
  • Investor
  • lehigh valley, PA
  • Posts 236
  • Votes 22
Quote from @Andrew S.:

Hold firm.  You have all the cards.


I am holding firm. I got a letter and phonecall from there attorney and they will be filing a lawsuit against me. I guess we will let the judge decide.

Post: sewer connection agreement

Jimmy S.Posted
  • Investor
  • lehigh valley, PA
  • Posts 236
  • Votes 22
Quote from @Andrew S.:

Hold firm.  You have all the cards.


thanks for your reply. I was thinking the same.

Post: sewer connection agreement

Jimmy S.Posted
  • Investor
  • lehigh valley, PA
  • Posts 236
  • Votes 22

Hi,

Long story short is I am allowing my neighbor to connect to my sewer line which I installed when I built a new home and was forced to put connections in for the other 2 neighbors since they both have a septic and I have public sewer.(I am responsible for maintenance for the entire line) Anyways the one neighbor wants to connect and we agreed on a price and got township approval and the township will take over responsibly for the line since it will be a public line then. The original agreement I made with the neighbor is I would receive payment when I sign the document allowing them to connect and they pay all fees involved. I do not have an attorney and his attorney I have been talking to through out this process seemed ok. Now its time to sign the paperwork and he slipped in that payment is to be made after the construction and connection is made saying if they are unable to connect they are not paying me.  I told them no and want payment upfront as I am no longer involved and they will deal with the township. They are talking now about mabay a escrow account but his attorney and him are friends.

What would you do? 

Trust them and  go with the escrow?
Stand firm and get payment upfront?
Or get an attorney and make them pay my attorney fees since they changed the agreement?

Township said try to get money upfront. They will give him a permit after I sign the document. Im sick of this as his lawyer is contacting me and getting rude with me now since I wont sign it and they changed the terms at the end about when payment is made. Township really dont know whats going on either as they said its in the township lawyers hands. I never signed anything yet or even the original agreement I just type to show what I wanted. They would be paying me $4000 for the connection after beating me down on price and giving me hardship story.

I dont have to let them connection township said. There septic is shot and will cost them alot more if they need to install a sand mound.

Post: seller is not the owner?

Jimmy S.Posted
  • Investor
  • lehigh valley, PA
  • Posts 236
  • Votes 22
Quote from @Chris Seveney:

@Jimmy S.

Every realtor should look into this but do not

I own a property and have a contract for deed on it and noticed it’s listed for sale on the mls…

I asked the agent who signed my name. They have yet to reply back to me


interesting 

Post: seller is not the owner?

Jimmy S.Posted
  • Investor
  • lehigh valley, PA
  • Posts 236
  • Votes 22

its vacant land. No pictures were on the mls. They are NOT selling it to me as the seller, not the agent is not the actually owner.

Post: seller is not the owner?

Jimmy S.Posted
  • Investor
  • lehigh valley, PA
  • Posts 236
  • Votes 22

So a piece of land hit the mls at a good price. My agent called and got the scoop. Put in a offer and it was accepted all within 24hrs. The listing agent came back and said it was a scam and they in fact dont own the property. Seller never signed my offer but was verbally acccpeted. The contract for the seller to put it on the mls was signed but was a scam. (guess they docu signed it) Any one run into this before? How did the listing agent not meet with the seller or verify they are the owner before putting it on the mls?  I never ran into this before and been in real estate for about 12 years buying and selling.


Post: Cant get a loan and im stuck DTI

Jimmy S.Posted
  • Investor
  • lehigh valley, PA
  • Posts 236
  • Votes 22
Quote from @Sebastian Marroquin:

Don't take so many deductions… 

Do the math with your tax person: and see what's most cost effective 

1. Report more gains and pay more in taxes 1 or 2 years to qualify for more loans 

or 

2. Keep the high deductions and save more money for a 20 to 25% down payment with bank statement loans (DSCR) loans


 The bank still wont loan me anything even if I put 20 or 30% down. They wont even loan me $1,000

Post: Cant get a loan and im stuck DTI

Jimmy S.Posted
  • Investor
  • lehigh valley, PA
  • Posts 236
  • Votes 22


Any one have any ideas of how can I get a loan? My DTI is my biggest and only problem. My credit score is 800+ and that mean nothing. I have 3 rentals and own my own home. My only debts are from my rental properties. They come to around $3500 a month total and my parents live 1 so I dont charge them rent, I just show a loss. I am self employed also. I only show about making $25,000 a year after all my deductions. I have 1 rental I paid off a few years ago and wish I never used all my cash now that the bank wont even let me take it out since they say I cant afford to pay it back. I have tried about 5 different banks but all say my dti is the problem.
 
Any ideas?

Thanks in advance.

Post: tenant still did not put utilties in there name

Jimmy S.Posted
  • Investor
  • lehigh valley, PA
  • Posts 236
  • Votes 22

I could always take it out of there security when they move if they dont pay it. Every time I call the gas company its always like a 20 to 30 min wait time too.  I requested a cashiers check when they moved in so im sure thats good. Did anyone ever hear of needing a duplicate SS card to put the utilities in your name? Sounds like BS to me. Lease states they are responsible for the utilities. 

Post: tenant still did not put utilties in there name

Jimmy S.Posted
  • Investor
  • lehigh valley, PA
  • Posts 236
  • Votes 22

Got a new tenant and moved in on the 1st. They have gas heat and hot water. I called UGI, the gas company and they did not put the gas in there name yet. I called my tenant and they said UGI needs a duplicate of there social security card in order to put it in there name and will take 1 or 2 week yet. Guessing the bill for 3 weeks will be around $150 to $200 here in winter which im stuck paying.

I have been paying to heat the house in winter since its still in my name. The gas company said if I remove it from my name they will come out and shut it off since it will be in no ones name then. Can they shut if off in winter or should I just forward the bill to the tenant when I get it? They did put the electric in there name.  Just seems odd they cant put gas in there name without a duplicate of there SS Card.  Let me know your thoughts.

Thanks