All Forum Posts by: Seth Williams

For starters, don’t write a blog on your public intent to commit mortgage fraud, AM I RIGHT??? ...

No, but seriously, financing your single family as an investment property or non owner Occupied, and committing to moving to your new four family is completely legit. Change in family size, working situations, and the sort can all contribute to the need to buying a new home. 

Other options like getting a home equity line to buy the 4 Plex could work too, but don’t know what to You are working with. Good luck! 

Tyler, shoot me a pm, we are in the same area and might be able to help with a different opinion on valuation.

@Ernest Partin great recommendation!

I’d love a tour! 

Ask your local real estate attorney, I’m not sure if it’s different by state. In mass, they are always transferred to the new owner, and rent, also is transferred on a pro rated Basis. if the tenant doesn’t pay rent, the owner should start serving them notice to make sure the tenants either come up to date, or are further in the eviction process. Get a copy of this served notice. 

The landlord is allowed to use the security for unpaid rent at the termination of tenancy, and a sale of property is not a termination, and more than likely is opening them selves up to litigation. Demand a credit via your attorney, and make sure it’s included the final hud , seller statement. But, that’s just my Massachusetts opinion. 

Where are you located? You should talk to a local commercial lender, since anything over 4 units is commercial investment, and several other items apply vs your personal income and credit. 

Yup, thats what I just tried to do. I can read 🤪

@Anthony L. are you licensed in CT?

It’s blowing up! Everything around this greater Boston area is on fire right now. Shot me a pm if you want to connect. 

Try and solve amicably, sign any communication with property management, informally at first. Then I’d call police to ticket, and eventually tow. I’m going to assume solving it with real communication would help. Try door knocking too, as a new neighbor, or property management who is managing the building trying to solve the issue. 

Go to the town and ask questions and pull the “jacket” or file on the house. Depending where you are at, they could be illegal units, and even tho they produce revenue, you shouldn’t neccesaarily pay full value since they could become non revenue producing. If it’s an easy permitting process to make them legal however, then it’s worth Persueing. 

No one in their right mind wouldn’t make their 2, a 4 before sale if it was easy. Dig in more!