All Forum Posts by: Tariq B.

In my area they knock it down a couple of grand every month or so. I have bid on many many homepath properties and never have I seem them budge more then 500 dollars off of what they are asking. For instance. There was a property they listed it for 14,900 (needed lots of work) I offered 12,000 they countered back 14,500. I left it which was just as well because I inspected the property even more and there were projects I just didn't want to do like replacing 14 different windows. Needless to say a few weeks/months later they still received no offers and kept knocking down the price. They finally listed it at 9,900 and got it under contract. So I suppose that will give you sort of an idea. Some times you will write an offer and they won't even let you know they don't want to accept it and leave you hanging for a few weeks to you sort of figure it out on your own.

Tariq

what worries me more right off the bat is your PM seems very inexperienced, to have to look into this situation of the tenant laws of your state. I know for a fact some states allow a grace period of 5 days.

In your situation if it was me I would let it go, it's only two days and she does have a point of it being on the weekend. This is something that could easily cause bad blood in the relationship and for me, that is just not worth it. 

Since most of them are section 8 they probably feel it is sort of like double jepoardy, they let someone else deal with it.

@tyrus has it pretty much summed up. You do not get inspected in Baltimore, the only way you would get inspected is for a "use of occupancy" you would only need to get a UOO cert if the house was registered as a vacant. If that is the case you will have to get it inspected to be able to rent it out. With that said when it comes to inspection everything has to be permitted, that is one thing the inspector will look for.

That is always an option @Dawn, but this seller is actually under Hompath...just they don't fund anymore lol

Was really trying to stay away from PMI but I was speaking to a lender today he said something about 15% down but with PMI I had to cut the phone call short though. So to answer your question @Marquise yes at the momment I am.

I know I'm late to the show here, but just found out that there is no more Homepath funding, so that means no more 10% down payments with no PMI.

How do y'all feel abou this?

I go where ever the deals are. I would like to focus on one location but the deals have me scatered all over the place. This is a very bias question which makes it tough to answer. But if the numbers work and the house is soild, I'll make it work. I will not however now buy a place where I feel my tools will get stolen. if I walk into a place and see that someone took the copper or little things here and there, I tend to not even give that property a thought.

For whatever reason it will not let me tag people. But thank you for all the responses, it's all something to take into consideration. That's what I love about this site is it's a good place to vent when no one else in your life understands the REI world.

It is my understanding, that you take the chance of them getting hurt and suing you. But if they are insured you do not run that risk. I wouldn't say it is a deal breaker for me.