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All Forum Posts by: Oliver Newton

Oliver Newton has started 2 posts and replied 2 times.

Post: [Calc Review] Help me analyze this deal

Oliver Newton
Pro Member
Posted
  • Fayetteville, NC
  • Posts 2
  • Votes 0

View report

First time really working with the calculator. Rates are from an FHA loan to get into the property utilizing a HELOC on my current primary residence for down payment and starting renovations. Look to cash out refi after a year to a VA (if that works).

With 4 beds I was going to rent each bedroom and common furniture would most likely be mine that I currently have. Parking and allotted storage would be worked into quarters. 


Looking for any tips for getting into house hacking or purchasing multifamily.

*This link comes directly from our calculators, based on information input by the member who posted.

Post: Seller refuses to sign mutual release agreement

Oliver Newton
Pro Member
Posted
  • Fayetteville, NC
  • Posts 2
  • Votes 0

In April 2021 my wife and I were looking into purchasing a house for her while we used to be geo bachelor’s. We were under contract escrow paid but we exited the contract due to a lead pipe and levels that we were not comfortable with. The seller negotiated to have a RO system put in however we disagreed and wanted the lead pipe completely removed or the selling price be brought down accordingly. We walked away and the seller eventually sold at the end of May 2021 and will still not sign the mutual release. I have called the title company and they will hold the funds until we get a mutual release signed. Escrow was $750 and I am not sure what to do or if it’s worth the potential legal fight.