All Forum Posts by: Drew Denham

So my first residence I owe about 58k on a ten year mortgage (8 years left) and my payment w escrow is about 850. I'm currently renting it out at 945 and im in the process of buying another home right now as my primary residence. The house is worth 105-110 so my question would be do I refinance and pull the 40k (90% of the equity) and buy a rental w cash or try to focus on flipping to increase my capital ? Go from a 10 year to a 30 year? Pros / cons ? Also, I don't think I'm at the point of potentially having three mortgages (plus my renter has only been there a month so the history isn't there). Thanks all! Have a great day

Theresa W. Hi there - the seller of my property came down 10k for the wall.... But... My neighbor is up higher and he wasn't very friendly about the whole issue. Why isn't this his problem too? Christopher U. Hi Chris- the wall is leaning over a foot into my property and the houses are close together and I'm not sure off hand if I can get away with just removing it. I've also though about just digging out the 5-6 large vertical posts and resetting them [with proper drainage]. It's a wood wall and yes it's tall enough where you would need to extend higher for liability purposes. The owner I have a purchase agreement with has had teo bids done - one for 9 and 12k. I got my own bid today and he said about 20. I think the 9k bid is wrong and it doesn't include a geo grid. I can just leave it the way it is for a while until I figure things out. My biggest concern is if I should back out of the deal or ask for more money off. My realtor told me he will not go down any further and there are people waiting to see it if I back out. Thoughts ???

Theresa W. Hi there - the seller of my property came down 10k for the wall.... But... My neighbor is up higher and he wasn't very friendly about the whole issue. Why isn't this his problem too?

I can back out of the contract too... I already have $500 invested though

Hi all,

I have a house under contract in which there is a large retaining wall that seperates two properties (one being mine). When I go to fix I would have to extend 5 feet onto the neighbors property (GEO Grid) and dig alot out of his yard. My questions:

1) Would a basic contract work with the neighbor stating he agrees I can work on his property and install the grid? If not, should I get a real estate lawyer involed?
2) Should I ask the neighbor to help pay since the wall is between both properties?

Looking for some feedback

@Benjamin Palasek

Congrats on a property! The gr market is crazy. Would it happen I be on fuller?

@Jake Thomas

I am trying to get out of a buyers agreement right now.... My advice is to never sign one ... I'm new to a big city and my realtor pressures me and almost had me buy a place in the hood and I had no idea... Some are money hungry and some actually want to help you... Good luck

Raymond B. Without breaking the bank and re arranging everything I don't think so. I think I could shorten the master bedroom by three feet which could help a lot.. This is my first real offer to a house in a new market and I'm a bit nervous ... My offer is 80k (list price 84,900) and the bank just dropped 11k this week.... Not sure if I'll even get it ... It's in a great neighborhood but needs the following All new windows New garage siding and door Landscape All new flooring 1500 sq ft Two baths re done New kitchen Move a wall Paint New fixtures 30k safe estimate ? Puts me at 115k$ .... Back in 2006 the neighborhood was at 139,900$ I haven't checked roof furnace or ac yet..

Raymond B. At it is now, yes 4 chairs could fit but it would be kind of tight. No dinning room and the living room is small too. Could I take 2-3 feet out of the master and extend the kitchen? Not sure if it's load baring or if that even matters (can move it) Thanks for the feedback!

Hi all, I know kitchens and baths sell houses so how big of a deal is this? I can blow out a wall to make the space a bit bigger... Or maybe make the baths better? Any ideas ?