All Forum Posts by: Obie Gutierrez

Thanks for the information! I wasn't aware of the upfront premium for the FHA on top of the MIP, so it looks like I have a lot more research to do!

Hello Jeff,

How has your experience as a part time agent been? I am considering becoming a part time real estate agent, and would also keep my full time W2. Would you recommend this path, or would you do anything different? 

Has anyone else started out as, or currently is, a part time agent?  Anyone that jumped in with both feet have any thoughts on this?
  

Thanks for posting this! I am in a very similar situation where I live near the bay area and am trying to decide whether to buy here and house hack, or just continue renting and invest out of state. We are also unsure if we will stay here 5-10 years, so placing a big portion of our cash into a 5% down loan where the mortgage will still be more than $3K/month is a difficult idea to be fully comfortable with. We have been looking at places here, but the houses sell as soon as they get on the market. (Most of them are way above our price range anyway.) We also made an offer on a place that would work for us, but our offer was blown out of the water.

Our mortgage lender we have our pre-approval with said that with the current low interest rates, it wasn't a good idea to look at FHA loans since the PMI is locked in for the life of the loan and would negate the great rates. Does anyone have thoughts on this?

Thank you for the information! Honestly, I am unsure if it is considered real or personal. How would I be able to determine that? Is the house considered personal, and the land real property or do they both go under one category since they are together?

Arun, all taxes are current, so hopefully there are no issues there. I'll be sure to look into the permits, thank you! 

Greg, so there wouldn't be liability on our part if we disclosed everything and sold as is? Should there be paperwork signed by both parties (seller and buyer) stating all of the issues if that is the case? Is that already included in any paperwork when you sell a property? 

Thank you for the information, Tom! I'll make sure to ask any company I call if that is all included.

Also, do I need to get any permits from the city/county before this can be done? Thank you!

Thank you for the feedback, Rachel! I had a feeling that I wouldn't be able to sell as is, but it is good to get confirmation.

Tom, the property is is the southern most tip of Texas. Do you provide services in Texas? If not, is there anything I should look out for in a demolition company? Do these companies typically provide disposal services, or do I need to coordinate that as well?

Thank you for the feedback! I will look for a company that provides demolishing services in the area. I will have to look to see what we could get for the lots on their own and will go from there. 

Hello!

My family has a mobile home that is in bad shape and has issues with mold and a caving floor (water leak) and roof (tree damage) in certain areas. The mold got to a point where anyone that was in there for any amount of time would start feeling ill. Ever since we left years ago, the home has been vacant. If we sell it, it is not suitable for someone to live in. I don't know if there is an issue legally speaking with selling the house in this condition. At this point, we are looking to remove the home from the two and a half lots it sits on and either lease the lots or sell them. We had briefly considered trying to see if the home could be repaired and have mold remediation to rent it out, but the neighborhood has gone down in quality over the years and we are hesitant to have responsibility over upkeep of the home. With this information in mind, I have a few questions:

1) Does anyone have experience removing and disposing of an old mobile home? What types of companies do this? I tried to look up something like this on google, but I wasn't very successful.

2) The mobile home park is not connected to city utilities, so it has well water and a septic system. If we remove the home and have someone lease the lots, we are responsible for the upkeep of these, correct? Are there any issues that we should be aware of if this is the case?

3) Is it possible to sell the home and lots as is? I imagine that the sell price would be greatly reduced with the home in its current state, but are there any issues with selling a home with damage and mold even if we told all of the issues we are aware of to potential buyers?

I'd appreciate any advice! Thank you!