All Forum Posts by: Jason Routenberg

@Chad Ullrich FHA states that if the LTV exceeds 75%, then a non-occupying co-borrower is limited to a one-unit property. FHA forbids a non-occupying co-borrower arrangement in order to purchase investment properties or rental units if the LTV exceeds that amount.

@Michael Chang

So, from my experience and knowledge I have accumulated, the lot lines you see are usually automatic pictures and added through the satellite. These are not accurate. Its best to get a surveyor. Tax assessors also sometimes use satelite view to automatically determine square footage of a home, but these are unreliable because of trees and possible square footage that shouldn't be calculated. They measure by the home size and roof layout on homes. A surveyor is what you need to be sure where the line is truly at. They gather the information where to measure from certain street points and or exact coordinates and go from there. This information is found with the title company and maybe the assessor.

I like how they are wording and spelling everything in that email. Just the grammar and spelling errors alone spell out a scam. Never heard of a security deposit term with loan lending.

I created my own Excel workbook that calculates whether or not I should buy a property. The same tool then determines if it should be a flip and sell or to buy and rent or BRRRR. I used the calculations from local estimates to determine average costs depending on what is needed for repairs and used those estimates to determine different levels of repairs. I made check boxes to be checked for different repairs and uses the repair levels for the costs.

The same workbook also tracks properties cashflow, expenses, and repairs and allocates them to each associated rental as I enter them into one worksheet. They then go into individual worksheets automatically which in turn calculates my cash flow, expenses, deposits, withdrawals, and anything else you can imagine. Then in turn provides me my income statement and expense statement automatically.

I am new to investing in real estate and dont have any properties, but plan to. I create things like this for fun and have talked to investors and they said it's pretty darn accurate for the area it is estimating in. I also have a separate worksheet that allows changes for different market areas for repair estimates. I am currently in college for Business and Accounting and so I enjoy making Excel sheets for calculations and for other calculating solutions.

Buy Tax lien properties at Auction if you have the funds and BRRRR them. Most of the time, you get great deals, but be ready for some complications like people still living there or the property being a disaster. Of course they are cash only sales and so only way to finance them is through HELOC with your current home to be able to pull cash out right away or cash on hand and many many cashier checks for different amounts as they only accept cashier checks.

So, unless the shingles are damaged or missing, I wouldn't replace it. The shingles just protect the underlayment from damage as the underlayment protects the roof from water leaking into the attic/home.

Make sure there aren't shingles missing, curled up on the edges, and also missing grit. If you have an accessible attic, inspect the plywood underneath to see if there are any visual current water damage from the underlayment possibly leaking.

It's hard to tell without looking if a roof can still be good for another 2 years or 5. 2 layers is pretty thick and depending on the slope of the roof, can go for a third layer if on a budget. Most of the time, 2 layers will be the max and if the shingles look bad to where there is damage or looks worn, then replace it. Better to start fresh and new and having it last 20 to 30 more years instead of 2 or 3 and to find out your tenants belongings are getting water damaged.

A leaking rook can cause your insulation to get saturated in the attic, damage the plywood on your roof and damage your ceiling to where the drywall needs to replaced. This will create more expenses if not replaced when it needs to. You will then have to replace the roof, the damaged plywood, replace the saturated insulation, replace the drywall, and get it painted after applying joint tape, joint compound, and do some sanding. The work is too great when you can prevent it.

In your own opinion, would you wait untill it leaks and cause more damage or do you want to get a new start on the roof. You cant tell unless you know the signs of the roof being on its last year or 5 years.

Okay, a simple question turned out to be something really in depth.

I am sure and along with everyone else, that laws will and are being broken in certain states if you are not licensed and are marketing a property you do not own. This goes with wholesaling as well, in case no one knows.

If people want to break the law in their state and they know they are, obviously as said from this tense discussion, then let it happen. They will get caught or they won't. It's not my business or anyone else's as we have nothing to gain or lose from their actions.

People who want to poke around to purposely turn people in, then great! That's their life style I guess and need something to do to bring others down. They apparently get off on that.

I for one come into these forums to learn. Everyone here is great with all the information being provided, but when a forum like this gets out of control with the same thing being said over and over again to where people want to have the last word and prove a point, then that just take the greatness of these forums away.

Get over it and just give information and stop arguing about some law breaking. The first time it was said, they probably looked it up if they were smart enough and learned that they are breaking the law. Just give advice and walk away. If they still need information about kicking a tenent out when they have no authority to do so, then say it, no need to get crazy about it.

I did however learned many things in this forum though. I now know people like to turn others in for fun, which is negative, and also in Florida you cannot market a property when your not licensed or don't own the property.

Great talk everyone. I am going to move on and learn some things from these forums that will benefit me instead of lingering around on here like a puppy dog who has nothing else to do but to keep barking on here.