All Forum Posts by: Kimberly H.

 @Jay Hinrichs - This is the market where I live.  I'm not going to shy away form it and allow other investers or newbies go through the growing pains because I'm scared.  I'm going to forge ahead!

Thanks!

@Mark Gallagher - yes I'm financing. Not only that it's one of the Healthy Neighborhood loans. 3% down, no PMI... so they won't take to kind to changes and issues at the 11th hour.

I totally get it. I'm going to ask for a credit, but I'm not going to make a big stink over it. I thought I had tough skin.  I almost lost it.  One more check mark of experience. 

Now, I need to get a lease together (anyone with examples feel free to let me know), tenant screening company, and create a check list of requirements for approval.

-Kim

Thank you all for great advice. I really do appreciate it.  This is my first investment property and experience with this sort of thing.  I guess this will be the first of money issues I need to work through.

@Mark GallagherI'm going to move forward with the purchase despite the vandalism.  I will ask for a credit, but I won't get my hopes up.

The contractor that I chose for the small renovation is willing to work with me to get the job done at a reasonable cost.

You guys are invaluable.  The numbers still look great.  Cap rate 5% 1st year because of owner occupancy and 10% thereafter.  I'm satisfied with that.

I'll let you know if anything changes. Closing is at 3pm. :)

Lol....Scott you silly. Dry closing is a settlement where money is not disbursed until the issues are settled. 

 Yes... I did walk through with the realtor. He suggested I close and try to get money later. He's NUTS!!

I have my contrator doing an estimate for me to bring to closing. Can I suggest a dry closing until we decide who  pays?

Fannie Mae realtor us being unreasonable. Yelling..saying its nothing she can do. 

I feel like I have no representation. 

Fannie Mae house set to close tomorrow and the final walk through discovered all copper pipes have been removed. I want the house, but what do I do. 

I'm at a lost.....All utilities was on and functional during the appraisal. How should I handle this.

@Margaret B - 3 at one time..Thats aggressive. Lol

@Tommy - Congrats.

How go you guys let the contractor know his estimate was to high so therefore I chose someone else. I kind of like the guy and might want to give him a second chance at future projects.

Good Luck... wishing you well. 

Great....no the furnace is in great shape  and I do have broken windows.  

A light bulb just went off. My motivation was to just take the 15k and do something with it. In fact, I dont need to go there.

I need to make sure I dont have a lead issue and fix the windows. I need to do whats required to stay in code and make major improvements later.

Its so easy to get emotional and focus on the wrong picture.  Being a future landlord is a total different mindset then getting passionate about what would make me warm and fuzzy.

Whew. Clarity!!