All Forum Posts by: Cathy Svercl

you can always submit your offer to the Listing Agent, then submit a copy directly to the Owner, if you think the Owner is not getting all the offers.  in fact, submit multiple options in your direct-to-Owner offer.  for example, an offer with shorter/longer payments, more/less cash upfront, etc.  make sure all the options would work for you!  your goal is to try to figure out WHY the seller is selling, and SOLVE that problem for him.

for your first deal, i would choose something that's easy. no mold. unless you are a mold remediation business owner. and if other HML buyers are walking away, assuming with more experience than you, it's probably a sign you should also look for something else. also, for future purchases and knowledge, you might check what the property Zoning is. if this was truly built as a Duplex, there should be no problem renting it as a Duplex in the future. but if this was built as a Single Family Home, and is in a Single Family Zoning district, then somebody probably turned it into a SFH along the way, possibly before the Zoning was updated, and if it doesn't continue being rented as a Duplex (Change of Use), it loses that Grandfathering. only checking with the local Zoning Dept and Tax/Rental License Dept will fully answer that question.

@Russell R. - i'm doing the same thing right now.  weighing my options whether to keep my house & refinance for better cashflow & rent it out, or just sell it & move.  my numbers are much better than yours, but i'm still on the fence.

we did small repairs but waited to replace our roof in Clearwater until it sprang a leak and had to replace drywall in a bedroom ceiling.  however, our property insurance would have required us to replace the roof if it was 20 years old, no matter if it was in good shape or not.  so check if your insurance does that, especially if you use Citizens.

the math doesn't seem to work either now or with the refi. can you post your Pro Forma for us? (Annual Rent) minus (Taxes Insurance Maintenance PM Utilities) minus (Mortgage PITI x12) equals what? sounds like the result is a negative number either way.

i took the class on-line through UF (University of Florida) a few years ago.  happy with the course and availability of professor for questions.

is this solid concrete, or just some type of self-leveling crete/drywall over a plywood and joist assembly?  

if solid concrete, i wonder why the crumbling - a fire, moisture problems, etc?  check with a structural engineer (call this "i can sleep at night" insurance), and hopefully just repair by floating it out.  

if it's not solid concrete, i would tear it out or you'll just have problems later.  if you try to repair/float it, the new work will be stronger than the old stuff, which will probably continue to disintegrate.

that's not a small expense.  is there room inside the house or will you have to add on?  are you on septic (drainfield) or city water/sewer?  is this anything other than a 3/2 (3 bedroom, 2 bath) house right now?

$6,000 easy.  depends if they can install the new shingles over the old (second layer), or if they have to tear everything off (repair plywood and add new underlayment & drip edges).

ugh, i feel for you.  first, read your lease very carefully.  you will be required to give written notice (certified letter best for proof) to Landlord of the problems.  clearly Landlord is aware by now of the problems, and is trying to fix the situation.  (he probably can't find someone to come out sooner, thus the space heaters, but that's really his problem, not yours.)  but if you haven't sent the letter already, you should now.  

if you want to move out, carefully read your lease again.  you are legally required to pay the full year's lease.  so anything less will be a decision made by you and the Landlord.  

your city or county may have a free Landlord-Tenant office to help with disputes.  there may be specific local laws about withholding your rent payments (you may face an eviction record if not done properly), or allowances to let you repair the furnace and have the Landlord pay you back.  

also, you might want to buy a cheap wall thermometer, and take photos of it with your phone (which will record the date/time) when the indoor temp goes below 65 degrees.  finally, check your Renter's Insurance.  good luck!!!