All Forum Posts by: Tom C

I have a question. When you are working through an agent, most times they are very leary about letting a buyer and seller talk one on one. Would you recommend telling the your agent that you want to speak to the seller, approach the seller without telling your agent or just request this information through your agent? My agent will do whatever I ask, but it just adds delay when she then has to go back to the sellers agent and request this information.

Thanks

To answer your question about the 80/20 this is usually done to avoid PMI. Remember PMI is tax deductable now, so other then lower your payment by a few dollars, it may not be worth taking on that higher interest rate. It sounds like you want to get more money to also do a rehab to take draws from. Wells Fargo is now offering this kind of loan and I believe most cases they require 10%.

Good luck and just make sure you aren't over paying for the home.

Our tax accessors listings on homes are completely off. I never trust what I find out the property tax information. As others have said, the appraiser should have it listed correctly.

I live in NE Ohio and would even think about trying to buy a home for a flip right now. The HUD that I just bought for a rental has 5 other homes for sale on the same street. Just within a 1 mile radius around this property there must be 30 homes for sale and they are not moving. This is the perfect time to buy cheap and rent them out.

Me too Brother, but no. They are only responsible from the shut off to the street. Anything from the shut off to the house, the home owner is responsible for, unless of course you have that insurance plan for like 8 bucks a month, but of course I didn't think I needed it.

Thanks wasn't gonna.. Already called in Grace Exterminating and they took care of it for $850. Had to get that certification for section 8.

If it was winterized you will see notices posted on the hot water heater and all water outlets. If you see no notices, check the torlet for antifreeze. This also is done to prevent the water from freezing and cracking the bowl.

My current rehab, the walls were bleeding from cig smoke. I had to use a primer. Went with Kilz. Had a contractor tell me to use Benz 123 and tint it to color. He said that you will only have to paint one time by using Benz. Keep in mind, this place was a mess with greese and smoke stains and it going to be a rental, so everything is going to be the same color.

I've got one too. Now keep in mind I understand that looking at the whole picture this isn't bad, but my budget is very tight. I am rehabbing a HUD home to used as a rental. Hasn't been lived in for 2 years. So I go to get the gas turned on and they find a leak in the basement. Not a big deal we isolated it to a couple of big elbows, but too big for me to break down and fix. So my plumber came in and fixed for $150, not bad at all. Gas company comes back out, turns on the gas and decides to do one final check out side. She see's some dead grass and checks, sure enough she finds a leak outside the home. $850 later, my contractor has it fixed. There is 1K down the tubes that I did not plan on spending.

Sounds like a simple wholesale situtation to me.