All Forum Posts by: Geoff Bishop

Seven Years seems exceedingly long, doesn't it, especially given the meltdown of the housing market?  I guess the banks and investors expected you to be smarter than they are.  :)

Something to be aware of is that the Bigger Pockets Rental Property Calculator DOES include CapEx in NOI.

Based on the discussion above, it sounds like that is fine to do, from a Buyer's perspective, but it isn't the way one would normally do it from a strict accounting standpoint, if I am understanding correctly.

I had this question also, after researching the Investopedia NOI...

Thanks, Chris. Based on your response, and the following article, in the case of FHA, it sounds like you CAN get a previous appraisal, but it takes some work...

Article about obtaining FHA Appraisals

Hi.

Is there a way to obtain (buy) access to the most recent Appraisal which was done on a property?

Do any states require appraisals to be recorded when performed?

And are actual appraisals done for tax assessment purposes, and are the details of those available?

Depending on how accurate you need the appraisal to be, it seems silly and wasteful to request an appraisal if one was performed recently.  Thanks!

I just took (and passed) the Florida real estate agent exam.  The test was MUCH harder than I expected, and I was not given a grade either, just "Pass", which was pretty unsatisfying, although I'm obviously very happy that I won't have to deal with Pearson VUE anymore.  

(I went to the Glen Allen, VA location as I was living in VA at the time of my test.)

Pearson VUE is a lousy company as far as I am concerned.  Can I say that on here?  Their customer service is terrible, and they have a huge conflict of interest in that, if you fail, they actually charge you like 40 bucks to review your test and see the correct answers, so the more people that fail, the more money they make.  Isn't that nice?

Pass rates in Florida are quite low (around 50%).
Article on Pass Rates in Florida

Thanks, Stephen.  I guess my follow-up question would be, isn't there a difference between TWO CLOSINGS (what you described), and a DOUBLE CLOSING?

I read elsewhere that "The double closing can be done in such a way that papers are not released until all documents (from both parts of the double closing) are signed."  In that case, it doesn't seem like it would be possible to keep the double-closing a secret from the original seller.

Say you want to purchase a property, but you're not sure what might be inside the walls or other areas that are difficult to access during an inspection; perhaps mold, or some wiring issues, or who knows what... Is there a type of insurance that will cover you for those kinds of surprises, as you take ownership of a property?  Will a typical homeowner's insurance policy do that?

Thanks!

Can someone explain the actual mechanics of a Double-Closing?

Can it be done without the original home seller even knowing that it's happening?

And has anyone ever had a seller find out about the double-closing, and refuse to sign the paperwork?