All Forum Posts by: Kevin Harrison

Yes if the bank finds out it will almost certainly trigger the due on sales clause, this is what's called buying "subject to" or "Subject to the existing loan". You should do a little research and look around BP, this question has been asked and answered many times.

No. you call your realtor and tell them what you want. If they cant provide that then you go through the sellers realtor until they get back. That is if you want to keep the realator you already have.

This has very quickly become one of my favorite threads on this site.

Personally I think this is a terrible idea. anything can happen before closing. the place can be ransacked by thieves, the seller can get a higher offer and back out, your financing can fall through. All of that is terrible enough for you but imagine what it would do to someone who has all their things packed and has already turned over their other place. Now you will have made them homeless because you were greedy.

I guess its fine to show the place and take applications but I would not put anything in writing until I had closed. This is a CYA move on your part as well.

This is a misnomer. Bandwidth has nothing to do with energy usage to the landlord. It is a term commonly used to describe internet speeds. A router can only handle so many users or a maxium Mps (megabytes per second) but this will not cause more or less energy usage.

I am with you here, I like it cold in my house. 68 is comfy and occasionally if my wife complains ill bump it up to 70ish. But not all people are like us. do you pay the utility bills? is it in the lease that you can limit the tenants thermostat control? do both units share the same thermostat and hvac system? Just some things to think about.

Also I work in an office building as an engineer and what the definition of comfort is for almost any office is 70-75 degrees and 50% RH (relative humidity), so its safe to say that your tenants are right in that zone and should have no complaints.

Personally if I were too limit my tenants HVAC it would be 74 for heat and 70 for cooling. any court in the country would find that reasonable. you might just have to tell your tenant to suck it up. But if you would like to address it go and take some temperature readings around their unit and verify that what the thermostat shows is the actual temp for the space. 

Same story as most above. My wife and I even got one with our most recent personal home purchase. we use it once when our AC kept tripping out on low pressure (maybe a $150 call) but other than that nothing. It does give you a warm and fuzzy as a home buyer though, especially if the home or appliances are older. We most likely wont renew (even though my wife wants too).

I would just put into the contract that you need a lease for the guy or some kind of documentation signed by him saying he will be out of the place on XYZ date.

@Account Closed @Jerry W. I never said that Bob was dumb or anything of the sort. I have a problem with him hijacking other people threads to tell them they are dumb and poor for not doing it his way. I would love to see Bob write a blog post or start his own thread giving us examples and explaining his method and why its superior. The question asked on this thread and many others bob has done this too is unrelated, what does the "deposit VS. CF" have to do with calling people poor because they are not doing it his way and he does not value CF. Not every one has huge cash reserves and im sure there was a time when he was starting out that he couldn't do what hes doing now. but he seems to have forgotten that people have to start somewhere and were not all making 6 figures at our W2's and we don't already have a portfolio to support us while we wait out the market.

Bob, please start your own thread so we can discuss this like adults and maybe we can all learn something from you.

@David Bohner Usually a day time and then a night time drive through of the area to get a feel for it. I you feel even slightly uncomfortable think about how it would make your wife or children feel living there especially if you're at work. This will be similar to how your tenants will feel. Also check the crime state for the neighborhood (Trulia is usually a good gage for crime stats). Then from there its easy enough to check schools, community programs, public transportation etc.