All Forum Posts by: Maurice D.

adding to what Mike said, Generally if you like a property/location/numbers otherwise, come back to see it with a few foundation companies in tow and have them give you estimates.  based on their input refine your offer.

I had one the other day, great house otherwise that had the foundation fixed (and seller gave me report).  the report showed there was a sewage leak, not yet fixed that was estimated at another 3K-5K to fix.  when I factored 5K more into the discount my offer was rejected.   Point is ask for any prior estimates (even if not fixed), as well.

now on this one, I wouldn't touch a 100 year old building, unless I'm buying it at [lot - demo] price and the lot was good :)

take him to court.  you will end up with a Judgement and this you can deduct as a loss in your taxes.  (I'm not an accountant, please check with a CPA).   also, this helps over investors who do due diligence on contractors.

this way, you can repo his beat up truck, if you really want to :)

I got burned also this way, and ever since always run a search on civil courts on prospective solo contractors, to see if they have been sued before.  

well, bound to happen.    Also saw another show where they bulldozed a very old house and brought in kids to watch it.. SMH all I could think of was asbestos and lead paint.  poor kids.

http://www.foxnews.com/entertainment/2018/06/06/fi...

#DoThemTheRightWay

thanks for the inspiration/motivation!

I'm entering month #2 in my 3rd door search and was getting dissapointed, all my offers getting rejected. I am going to go follow up on them as they age on the MLS.

If the area warrants an alarm, having them in, in the first place is a bonus/selling point for tenants..

6) sell it in two years

1) make sure your credit score is on the up and up

2) save a little for a downpayment.

3) look for a cheap/negected/small duplex in a part of town safe enough you would live in

4) make a low offer.

5) buy it fha 3.5÷ down, live in one half with yout buddy.

what keyed you to that area?

Wow, must have been stressful!  Good job holding your ground!

Check your numbers with a 3.5% fha, owner ocuppied.