All Forum Posts by: Paul Nicklin

Turns out they have something in the code which should satisfy most mortgage companies, in case you run into this:

Hey hope everyone is doing well.

I am under contract on a property in DC. Slightly strange as I looked at the property 2018 and declined it at the time. Now its back on the market, same price, same condition. Very pleased I could get it at the same price, but with the lending market what it is, I can only get a regular mortgage for a rental investment. Planning to develop it (4 level rowhouse) into 2 apartments. 

Looking to get a construction loan separately. Has anyone managed to get one recently, if so who from and would you recommend?

Thanks, in advance, Paul 

@Timothy Joseph Fivver. I started out a ignored the advice about wasting time with this at the start. Looking back I agree, you are better off getting out there and getting on with it. Once you have something (experience, deals under your belt, contacts) you'll be better placed to do something with that logo and the business cards its on!

Has anyone had experience with getting a rebuild letter from Philadelphia? I was about to close on a refi when my mortgage company through me a curve ball needing a structural report and a rebuild letter. I have a legal non conforming property which, in the event of a fire, they need to know I can rebuild as is. 

Any advice would be appreciated. I reached out to the zoning department but not getting anywhere with them.

I am also half way around the world, so finding it tricky to get them on the phone.

Thanks, Paul
 

@Mayer M. Thanks for the recommendation

Hi BP Community and local PA people,

Does anyone have recommendations for a structural engineer or someone who can write a structural report verifying the foundations are structurally sound?

I am doing a refinance on a property in Squirrel Hill West Philadelphia, the appraisers report noted some settlement and stated "the client should obtain a professional opinion from a structural engineer should they have further questions". 

FreddieMac saw this and are now asking for a report to verify the foundations are ok, even though the basement is viewed as ok structurally.

Looking for a fast turn around if someone could recommend I would appreciate it.

Paul

@Kealoha Ishikawa Definately helps. Thanks. Hes more a 23-24 going on 50 type though, so Mililani might be a good option. Price guide is good to know, it seems there is a lot of availability online at the moment. I guess this is AirBNB's which aren't getting business because of Covid restricted travel.

@Mindi Rosser thanks for the advice and offer. 

 @Julian R. Thanks for the suggestion of Makaha and good to know about the safety.

Hey thanks for the reply. Not looking to buy just for advice on renting for 6 months to 1 year