All Forum Posts by: Jimmy Dudley

You lose nothing by going soft first. I always try to talk with people. Be firm and see if you can get what you want ($).

I love doing work on houses. But time is the one resource we can't get more of. 

Like the song say know when hold em, know when fold em. People can't wait to quit their jobs but for most its a grass is greener situation. The problems you will encounter trying to get financing without a W2 are considerable.  

Not all people who rent are poor. Buying a home is not sign of wealth. I have plenty of friends who are very wealthy and they rent nice apartments. They own properties but not where they live. People move around now more than ever, the ability to chase economic opportunity is part of what makes America a great place to live. Perhaps if people who have limited opportunity in the area they live moved to a place with more opportunities they could have that $400 savings. 

I am not surprised, this is not unusual for lower value properties with large repairs. You can ask him to repair or walk away. The appraiser may not notice the heat issue, but if he does then the bank may not approve the loan. 

Go down to to the permitting office and explain what you are planning. They are usually happy to tell you if they think it requires a permit. Plus if you ever go to sell or have a problem people can search if you did permitted work or not. 

If its not on the Closing Statement then it's not legal.  Yes even in Maryland. 

There is a reason your lender refused, a good one. 

Depends on the laws in your county. In some areas you have to submit certain profit and loss statements in order for the state or municipality to determine if you owe taxes on the income. I would contact them and ensure you know exactly what they are requesting and what laws or municipal codes they are using to request the information. Putting official correspondence into a shredder is a great idea only when you have no further use for it. 

I am with @Russel Brazil on this check your numbers. Sellers routinely inflate their numbers to put the property in the best light but I think your evaluation is probably off as well. If you are confident and you believe they are hemorrhaging cash like that wait they will get desperate and drop the price.  

Joshua before you hire a CPA or an attorney, I would talk to more banks. It seems like you have a "feel" for what they prefer but I bet if you kept looking at small local banks you will find one to work with you. Other than that hire a professional to get your business set up in MO.