All Forum Posts by: Adair Smith

the macy's day parade got Rick Rolled too,,,,lol

http://www.youtube.com/watch?v=y4hqv6USkoU

finally an honest guru!!! Where do I sign??? lol

Look into property management. I don't know what they pay, but if you are truly interested in a buy and hold strategy this will be an area with a wealth of knowledge.

I've got this great deal on a historic home only problem is 4 dogs were locked in the house for several weeks and of course used to bathroom on the floor. The house smells so bad you just have to walk by it and you can smell it. What will get rid of this horrible smell????

I'm changing MikeOH's 50% rule for expenses to 60% just to keep up with RE taxes.

I finally figured out what happened....Our wonderful Gov Charlie Crist has a great idea to cut our property taxes and try to get the local governments to cut the fat and run efficiently. While in theory this sounds great, the local gov't found the loophole- Nonowner occupied dwellings (ie rentals and commercial)...I'm still fighting it; but I might just have to suck it up and pay it.

and they are sticking it to me this year. According to them, one of my properties increased over 25% in value...I'm fighting this but good grief...I've only owned it for 5 years!!! FL property taxes stink....but then again I don't have state income tax. I guess it is a trade off.

How are the RE taxes in your area???

Just curious- How do you deal with winter vacancies???

Originally posted by Paul Cordero:

This is the Notorious "Flip Rule" probably inherited from FHA guidelines. It is to keep investors for flipping for a profit. It is not discrimination, but it does keep the rehab investors from making a quick sale.

The mortgage rule is killing me...I buy and hold; but this house needs EVERYTHING. I have to pay cash for the rehab and then refi after 90 days. My intent was never to flip; but in this case, someone without the financial means would not be able to do this. That's why I say discriminate...the mortgage rule not the sale rule.

Fannie Mae!!!! They put a deed restriction that does not allow you sell the property for more than 120% of the purchase price within 90 days OR mortgage the property for more than 120% of the purchase price within 90 days of the deed. I guess they just want the REOs to look like crap and bring down the neighborhood, also nevermind the factor that someone might need the mortgage $$$ to rehab it!!! This is proof they discriminate!!! If the gov't can't have it...nobody can!!!