All Forum Posts by: Account Closed

All the houses I've done, I've never actually gone through and measured every room, ( does anyone unless they suspect something highly unusual?). It's perfectly reasonable to use the County records. The question is where is the next buyer's offer, if it's close to yours then it really doesn't matter, you just need to decide if you want the house or if he should go with the next buyer

gotta say, in happy this topic might be found useful to some. i have done another major Reno since, 1100 SF 3/1.5. I spent 35k in Reno ($31/sf) this was a boarded up shell of a house, bad shape. Everything was stolen out of it. It did have newer siding an newer roof, everything else is new by my own work. Brick foundation needed major work (quoted $45k by thrasher basements, did it myself for $6k. Plumbing & everything you can think of, I did, all new. 2796 s 9th st, Omaha, ne. Feel free to look it up, help give ya an idea. Good luck to everyone! This country truly is the land of opportunity!!

just an update, ended up closing this deal after all for the 68k purchase price. all things pretty much the same, insurance ended up a bit cheaper. was nice, because of pro-rated rents, deposits transfer, I ended up bringing only 67k to closing even after closing costs

@Peter Mikhjian all utilities on tenants: how about water and sewer? usually duplexes only have 1 water line coming in therefore this utility portion is paid by the landlord. does it have 2 water lines coming in with 2 separate water meters? usually its just the gas and electricity thats separately metered allowing tenants to pay those

there are companies that pursue these as their primary business. I would hire one of them, similar to a local collection agency but more focused on pursuing tenants. search the phone book or google for one of those in your area, they will likely be in the same collection agency sections. many of them, you dont pay anything upfront, just a portion of the recovered amount goes to them, pretty easy. I would go after this one if I were you, it will show you how easy it is and in the future you will just have a simple system for this situation. 

 can you elaborate on that? specifically regarding "removing seasoning contingencies". Ive had issues with the down payment funds seasoning requirements on loans in the past is why I ask. 

 I think the OP was referring to the thought that, once you get farther and farther above 20 units. The down payment amount may start to become smaller % wise because after a certain amount, such as a 10 million dollar complex, its more about the deal then the money that the buyer brings to the table. 

how about just a straight lien on the property, if there is no others then that would be a 1st lien position, same as a mortgage would be. 

wouldn't that do pretty much the same thing? And theirs little/ no cost to file a lien.

always worth pursuing until you have all the information to allow an informed decision. dont be afraid of boarded up doors or windows or liens. all the missing information is what will give you the decision if there is a deal for you. 

the one thing that you probably dont want to hear. Drop the price.

big enough discount and you will have it sold tomorrow.