All Forum Posts by: Nathan Letourneau

@Rebecca Jensen what are the details on the house in clear lake?

Thanks for the feedback. I meant 3 separate coventional mortgages...one per property.

Sounds like you didn't have any issues.  I wonder if you getting commercial loans vs me trying for conventional residential mortgages changes anything.

If someone had 2-3 rental properties...currently with short term financing and wanted to cash out refi to fixed 30yr (Fannie/Freddie) mortgages on each property, is it better to do 3 at once or should they be spaced out over a year (or longer)?  

Curious if others have ever bought a prior meth house for remodeling to flip or rent?  Wondering if there is anything in particular to look out for....unexpected costs, liability issues, etc?  When you went to sell, (asssuming it was cleaned/remediated) how much did the meth stigma affect the final asking price?

Looked at a non-listed property in a B class area.  We agreed on a price, but before signing, something was said about prior drug use in the house.  I pulled police reports and saw a number of meth related calls at the house.  We agreed the property would be tested before moving forward with the sale.  Turns out it tested positive for meth in every room tested.  Now I'm trying to figure out if I even want to proceed.  Seller is willing to renegotiate price.  If I did move forward with it, I would have a professional remediate and a 3rd party retest to make sure it is clean.

Victor is correct. There is no code requiring a closet to be a legal bedroom. It is a MLS/realtor thing. Also, you could put a wardrobe (furniture) in it and it counts as a closet for resale.

Code does specify exterior egress access.  I would do like others have mentioned and use it as a negotiation tool.  

Currently in year 2 of a renter that paid me a year in advance.  She has been awesome. Takes really good care of things. She was in divorce when she applied. Told me she wanted to pay upfront so it was one less thing to worry about.  She passed the rental, credit, criminal check so I rented to her. I'd do it again.

Can you share the name of the lawyer. @daniel hyman

Thanks for the recommendations I will pass all these along.

Wow, sorry to hear that.  I have a company I use in Wisconsin, but this is for a friend in Hastings and my company won't go into Minneapolis / St. Paul / Twin Cities area. I'll make sure to tell him to steer clear of that company.