All Forum Posts by: Richard C.

If you are holding their possessions and refusing to release them without payment, you would end up in a world of hurt here. Assuming their stuff meant enough to them that they tried to get it back, and then were mad enough about the fee to go back to court.

But I think you basically had it right when you said that it depends on the state.

Cost of doing business.

Why have to guess about what finishes would appeal to a theoretical future buyer, when you might get an offer based on them picking and paying for their own? I agree with you. Tell your husband he is just going to have to spend a couple of hours neatening up the worksite.

One thing to remember is that "First Time Homebuyer" programs aren't, really. You can be a "First Time Homebuyer" several times in your life. I can't remember exactly, but I think it is something like if you haven't owned a house with the last three years.

In any case, I don't think an LLC will help you here. You will still need to personally carry the loan.

One thing to consider is that someone who needs this arrangement is pretty much by definition living paycheck-to-paycheck. If he is paying every two weeks, and runs into trouble, you will have had three missed payments to indicate that to you before you would have your second missed/late payment monthly.

I have a different perspective.

I have done this in the past. Not the 3/4 now, 1/4 later. But collecting half the rent every two weeks, on the tenant's payday. Of course, that amounts to 13 months of rent a year. To me, that was well worth the trouble. Plus, I figured more granularity in the payments would give me more notice if he was running into financial problems. (I disclosed and documented that he would be paying the extra, BTW.)

This was a single family, so the concerns about other tenants Joel mentions may be very valid. They didn't apply in my situation.

I know nothing about CA.

Here, that is wildly overpriced. Plus, I would question every part of the listing, since they are describing a 12x60 as a "doublewide."

On a slightly more serious note:

No.

There will be something called an "Arm's Length Affidavit." Signed under penalty of perjury.

If you just rob the bank with a gun and a mask, at least you won't be leaving a paper trail.

Looking for a ballpark. Fairly nice house, where for some unfathomable reason they ran a concrete block chimney two stories up the FRONT of the house. It is 24"x24" block, 22 feet from grade to cap.

Any idea what it would cost to veneer with stone? Or with manufactured stone?

Thanks for any info.

I wouldn't hire an inspector when I am one :).