All Forum Posts by: Nicholas J.

Last year I called and St Cloud did not allow STR unless it was owner occupied and/or needed a lodging license I believe. Something like that but never looked further.

If the ceiling is exposed then it’s not finished. Should be priced as such.  

@Mason Hjelmeland unless your rents start at 1300/1400 per month minimum , I wouldn’t waste time in St. Cloud.

@James Hamling

From what I read, the PA has to be signed 91 days after the deed was recorded. The deed was recorded with the county 2 weeks after I originally closed on it. So in total I have to wait 104 days. I’m on day 75 with fha offers coming in.

There is a exemption I read to the FHA 90 day house flipping rule:

- Presidentially declared disaster area

The United States as a whole is currently a declared disaster area? Does that mean the 90 days doesn't apply currently? Asking because I'm trying to sell my flip to a FHA buyer!

Thanks!

Ive bought many foreclosure properties but came across a recent foreclosure that was interesting. It was pending, then came back active on the MLS. My realtor sent me the survey of the property that the potential buyers had done and ultimately backed out on. Ive been brain storming possible opportunities but thought I would see if anyone has came across something similar before. The same person owned both properties at one time. Property A and B are lake lots next to each other and Property A is now foreclosed on.

Property A - 1/2 acre lot, with a tear down home on it.  10 year old septic/drain field for this home is on Property B, which original owner still owns next door.

Property B - 1/2 acre lot, 5 year old garage on it.  Recent survey from last potential buyer shows this garage is encroaching onto foreclosed Property A by 13ft.  

Trying to create a deal on something that is scaring most buyers away.  Can the bank sell Property A with a building encroachment on it?  Property B appears to be heading to foreclosure as well from walking the property.  We've sent letters to the address on county records for Property B with no response.  If anyone has experienced something similar and has ideas they could share, I would appreciate it.  I would like to get this property or both as good lakeshore doesn't come around often.

Thank you!

  

@Andrew Boyer-Kern

No

Looking for recommendations on contractors in the St. Cloud, mn area. I have 2 homes needing work ASAP. Thank you!

When it takes them a month to get to the point we are now, included pulling my credit and then pull this, it appears their forcing my hand. Your right, I could go else where. Throw a month long process and credit report and start over, that makes a lot of sense

I’ve been dealing with them for a month, they have pulled my credit, got all the info from me they requested. Then they send me the loan estimate with this “rate lock fee”, which I turned down. I’ll take my chances, which apparently doesnt matter to them, and there is the appraisal fee on there of course which I also questioned because $750 is far more then I’ve ever paid for appraisal. I don’t get why I am being forced into signing a rate lock agreement if I don’t want it locked. They are already getting a 1% origination fee.