All Forum Posts by: Lee Bell

You can't get a better fixed rate, no sense in a refi that gives you a higher payment. You might be better off to sell and quit feeding the alligator every month. 

Only if it will increase the rent enough to pay for itself in a reasonably short time.

Might I mention, I am not on a lease at this point either.

I'd say talk to a tenants rights lawyer or group, but it seems you are not a tenant there.

So uh, pick up the pieces and move on? Sorry, I have no better idea atm. Good luck.

How long is this sewer line? So they dig a trench, and the abs pipe is not that expensive.

It's mostly labor. Get more bids on the job.

keep in mind that appraisers often don't assign any value to unpermitted square footage.

Appraisers don't give or assign value. We report what is there, and how the market reacts.

Yes, we may say I gave that tumble down shed no value. Would you think it had value? 

Fannie Mae wants to "give" value to unpermitted additions, IF that is what market particpants do. Of course they want you to supply comps with unpermitted additions. Oye. Anyway, I am picking nits.

Get permits for add on rooms and big stuff. Don't sweat the little stuff. Try not to do things that may bite yout butt. Like airbnb.

It sounds like the back unit may be a problem too, if only permitted as a garage, but has a kitchen and bath etc. Will the city make the tenant move out, and you remove kitchen and bath? Plus your Airbnb is getting the evil eye? 

Sounds like you have been flying under the radar. Once you are on their radar.....

Your train may be running out of track.

Sorry for the mixed metaphor. Good luck with it.

I did waste some money on the appraisal & inspection costs, but that's peanuts compared to what would have come down the peak.

I'd say it was money well spent saving yourself from falling into a black hole. Of course as an appraiser I might be biased on that. ;>)

Sounsd like that price is $70k too high with all the work needed.

Or, maybe it needs a bulldozer.

Better check local laws on evicting  them.

Was there much smoke smell and damage other than in the kitchen?

I guess they put it out fairly quick.

[quote]If housing weakens in Bay area/CA, don't other states follow directionally? [/quote]

Real Estate is local. What happens here may not happen there. In fact the opposite may happen there.

I would lean to cashing in my chips on the high bucks home. But that's me.