All Forum Posts by: Marc Winter

What does the wall look like from the inside? Foundation? What does it say on the seller disclosure?

You don't really need a structural engineer at this stage, IMHO--I'd go for a good General Contractor and get a price ballparked to negotiate with the seller.  

2-step approach:  

1--go to the house

2--ask the owner if they are selling

Can't be shy in this business.  

How do you know they have too many collections?  Did you pull their credit report?  If yes, let them know you based your decision on the info from the credit reporting agency.  Include the name and the address of that agency.  

Do not go into any details, just the name and address (or email) of the agency.

If I were in your situation, I'd do either auto withdrawal from their account or online payment.  I would NOT give them your bank account to make a deposit for the following:

If you end up having to evict for non-payment, if they deposit $50 into your account, when you get to court they will tell the judge you accepted a partial payment and you'll have to start the process over again.

Food, clothing, and shelter are human NEEDS.  They are not human rights.

We still live in a capitalist system (at least for the moment) and in that system people that provide a service are rewarded.  The greater the service, the greater the reward.

If they provide poor service, the market will reward them by going somewhere else for the service.  Back before big government programs, poor folks in need could get help from family, friends, or the church (or wherever they worship).  When the government set up a social 'safety net', people started taking it for granted, and it became a way of life for many.  Now many feel that it is their right to have shelter given to them for free.

I guess it's just too difficult for some folks to understand.  If someone works hard to provide a service to the public when they make a profit some see that as obscene, immoral, and just wrong.

Landlords have been looked down upon with a stigma since the first Neanderthal rented out a cave that he dug out with his own hands and club. 

We can only help the poor when we earn a profit and have something left over to give to a worthy charity of our choice.  That does not necessarily include tenants that cannot or will not pay their rent.

That being said, treat everyone equally and with respect. Do not judge them, even if they judge you.  Hold your head up and keep moving forward.

Profit is profit, especially when it's NOT TAXED!  Sell the house, then take your time to find a sweet deal and buy it!

Kinda sounds like an employer/employee type of deal.  If it's love for your sister that makes you want her as a partner, give this a thought: if you have a dispute, will you be able to settle it without harming your relationship?

BTW, those disputes are almost always about (in this order):  1. who's the real decision-maker (boss) 2. MONEY.

Depends on what's above the ceiling.  Also, if you run a circuit to that room for outlets use a licensed electrician.  

Last resort, when you put it for rent, just say 'bonus' room.  Let the tenant decide how they want to use that bonus-- office/bedroom/closet/grow room (where legal).

@Angela Yan

Before you go any further, best to check with your local zoning office.  

What was it about that '3rd bedroom' being deemed non-habitable?  

@Changseok Kim,  

You need to check and see if there is more to it. For example, FHA and many municipalities say a bedroom must contain be a minimum specified number of square feet, have a window and a closet.

Many houses in our area do not have closets, and would not pass as a bedroom.  We would simply install a piece of storage furniture called a chifferobe (a free-standing closet) and that would settle the issue. 

Dig a little deeper--you may find a simple solution.