All Forum Posts by: Michael Tranzilli

BP,

     My wife and I are under contract to owner occupy our first two family.  The property was a gut reno that the owner held onto for 3 years before selling.  Our title company can not find a survey on the property and is requesting one.  Whose responsibility is it to pay for?  My wife and I as the buyers or the seller's.  Thank you.

Michael Tranzilli

Mike thank you for your response. I totally see where you're coming from. We are currently renting and have a Maytag stackable in our apt. I have gotten to know my landlord pretty well and he has been in REI for over 30 years and has 70 doors so I'm guessing he went with that make for a reason. Does anyone have any experience with that brand?

Jaysen thanks for getting back to me!!  I will look into both of your suggestions immediately.  

Michael

BP,

After 2.5 years of studying all things REI through this wonderful website and searching high and low....my wife and I finally purchased and will owner occupy a two family property and can not be more excited. We would like to put in a stackable washer/dryer in our unit. Does anyone have recommendations on a good, durable unit? I want to purchase a unit as if it was for one of my rental units because the plan is to eventually move out and have a tenant move into our unit and I want a washer and dryer that will stand up to the wear and tear of future tenants.

Michael Tranzilli

That is AWESOME!!!  Great work Skylar!!

That story brought me to tears of joy.  Congratulations on all your determination, hard work and faith!!!!

Bryan Devitt, Ryan Saulle, and Brian R., thank you very much for your input.  It is much appreciated.

Michael 

Mayer,

    Thank you for the response.  But is that just putting "lipstick" on the pig?  My concern is for potential health risks down the road.  Would it be too costly and too difficult to remove it?

Michael 

BP,

I'm looking to purchase a multi-family that's in foreclosure. My wife and I want to owner occupy. My strategy is to go with an FHA/203k loan because the property needs some work. This would be our first deal and our first renovation. The seller has disclosed that there is asbestos in the exterior siding of the property. Is there a way to remove it? Either the present owner or a previous owner covered it all up with vinyl siding. Is this a deal breaker?

Michael 

BP,

Born and raised in Philadelphia(Germantown) then suburbs(Norristown). Been living in NYC for the last 15 years. I still have family and friends back in Philadelphia and get back often. I have heard that Bridgeport, PA is currently very attractive because of the revitalization along the water that will take place spurred by Oneill going in and acquiring alot of land. Is there anyone out there in the area, familiar with what is going on and knowledgeable in REI in that area? I'm interested in acquiring a few multi families and am looking for areas that are more investor friendly than NYC. Any info would be greatly appreciated.

Michael