All Forum Posts by: Steven McCutcheon

@Craig Parsons

Sorry for that experience! Honestly, the longer I work as an agent, the more I realize just how bad some of them truly are. Also there are a lot of “investors” out the that waste agents time, so they will be skeptical to work with one.

Most agents also have zero idea what makes a rental. The amount of times I see "high cash flowing property" or "cash cow" in the destruction when the rents can't even cover the PITI is stunning.

Just keep looking around or asking for referrals of people in the are. There is bound to be a good one!

@Gerardo Hernandez

The biggest issue is when you go to sell. You would have an illegal two-family home that is zoned SF. There would be work done without permits, that the town could discover and be fined for. The value of the place would be completely screwed because of this. Potential of the town hitting you for unpaid taxes because they might increase for the two family. There’s a bunch of variables that really depend on the municipality. I would personally do some more homework and call the zoning department

@Gerardo Hernandez

Have you talked with the town to make sure you can legally do this? Municipalities typically have different zones where certain homes are allowed.

@Ian Kisbert

If it’s on market, I would say use your agent on the buy side. It’s free for you and they will have your best interest in mind. If you go directly to the listing agent, he or she will be looking out for the seller because that’s their responsibility!

@Nathan Marks

Opportunity cost is the easy answer. When you think you can make more money in another investment. Maybe you want to upgrade to an apartment building, you know capex repairs are coming, or just want to cash out and enjoy.

It’s whatever your pain points are going to be!

@NIcholas Hamel

Looks like everyone has pretty much answered this, but it’s public records. So if the seller doesn’t provide docs (which they should be able to) you can call the companies and they should be able to tell you!

@Mike S.

Sometimes you get what you pay for. Discount brokerages pay their agents differently and you won't get the same service as other agents if you try to go that route. Your main issue as a FSBO is going to be exposure, and taking on all the other aspects of an agent if problems come up. If you have any questions feel free to reach out!

@Jovensky Fenelon

House hacking would be your best bet or a fha 203k rehab loan. Both of these should leave you with reserves as well! If you have any questions about certain areas, don’t hesitate to ask!

@Simon Obas

I don’t recommend to my buyers to waive inspection because the seller might not be truthful/they also might not be aware of any issues.

With that being said, it’s your right to waive any inspections if you choose to. If you feel very comfortable with rehabs or are a GC and it doesn’t matter what’s wrong with the place then by all means go for it. The term no inspection might appeal to the seller but it’s so common to do inspections that it shouldn’t be a deal breaker.

@Charlie Anne

Be careful with Camden, you probably won’t be finding many A or B class properties over there. I’m sure there might be some pockets of decent streets or areas, but definitely do some due diligence.