All Forum Posts by: Stephen Bell

The only thing that seems plausible to me is thag with each property, your rental income counts as income, so while you take on more debt, you also are getting more income which is allowing you to squeek by. Mortgage brokers have to go through underwriting and ultimately they are the ones with the final say. If you are comfortable with all these loans and risks, keep going until you can't in my opinion.

You're not too young at all. I purchase my first REI at 19, many people didn't take me seriously but they soon realize I was a force not to be reckoned with and I got the respect I deserved. Confidence and knowledge is key.

Hi Tariq Bahay , the reason why they want to close by the end of September is most likely because they want to avoid dealing with the new TRID regulations that take effect on October 3rd. You can appoint a POA to an attorney who you have used/trust in the past. I am an agent and have had a few closings where the attorneys sign the doc's in behalf of their clients. After all, an attorney you hire is working on your behalf and in your best interest. If it were me and the deal would fall apart if they can't wait. I'd assign POA to my attorney to close the deal. Best of luck!

Can you prove they knew it before hand? The hot tub could have leaked after he did the disclosures. $900 in damages is not worth winning with a $5,000 attorney's bill. Also, If its a good deal don't walk for a hot tub.

In all honesty, it was her car and it damaged his property. Why should he have to pay for it? He can sue her for damages to return him to where he was before the fire.

Title should read, "Inconsitent Insurance for BPers"

I've been scanning and reading a lot of posts for the last few months and when people do their breakdowns of their buy and hold investments, I commonly see their insurance as extremely low. Often times, I see something along the lines of $800 a year or $100 a month for insurance. I'm not sure what/where you guys get your insurance but mine is much more than that. Yes I have the replacement cost policy and it is for a non owner occupied MF. I have done a ton of leg work getting quotes from a lot lf companies and mine is still the best around. I have literally called every insurance company mentioned on BP. What do you guys think? Is $800 a year for insurance for real and attainable? Mine is over 3x that amount. Is it just me?

I'm not sure about the specific laws regarding tenant deaths in your state, but if there is 60 day notice and/or any damage to the apartment, I would just write it off personally. You got 27 years out of this tenant and thats it excellent. Pushing for an extra two months rent just isn't worth it. Also, I bet 27 years of normal wear and tear does take a toll and you will need to do some work/updating. My suggestion is find the laws regarding it, but dont pursue anything further monetarily. Just my opinion though.

Not necessarily, if you are questioning the extent of the damage, a simple home inspection should reveal that. How do the sills, joists, framing look in the basement? Thats "generally" where the most damage would be since that is usually the first place they enter. Get the home inspectoion, factor in the repairs costs and see if you numbers still work.

Couldn't agree more with Devon Garbus , this is starting to sound like you guys are representing the buyers and sellers side of this transaction. Tread very carefully.