All Forum Posts by: Terry N.

 Hi Jamie!  Would you be willing to describe a bit more about how you determined your utility caps?  Did you get a few months of the home's utilities just to establish a baseline of what the cap should be?  Also, you mention snow removal, is it ever the case that the tenant is responsible for some shoveling?  And for furniture included, did you just list all the furnishings you provided?   Many thanks for any input!

Hey Garrett...would you be able to provide the make and model of those cameras?

Do you know if homeowner is able to rent out both the main home (currently a primary, but looking to transition) and also the ADU. In other words, can they both be rentals, either long or short term?

Thx!

Depending on the municipality you may have access to the ‘Site Plan’; these are the plans used in the local administrative approvals process aka ‘Entitlement Process’.  Sometimes the architect contributes elevations, the general public may have access, you could then contact that architect/ builder. Floor plans are not Construction Documents.  You might get lucky.  Also, some realtor listings provide floor plans.  Combine resources to get as far as you can.  Or hire the architect.  

 May I ask what you’re due diligence fee was? 

Got a quote for a 5.5% interest rate with 2.5% discount points. $269k loan.  

2nd home loan but guy says lenders are treating these like commercial investment properties in terms of rates.

Keep shopping?  Of course I'm doing that but wondering what you are seeing right now. 

Thx!

Makes sense.  Thx for feedback. 

 Hey Joe,

And thanks Elliot and Sierra...

$300K sale price.  Started out with just a basic $5K earnest money held in escrow. 30 Day due diligence. 

No Due Diligence fee...

Fairly competitive market (aren't they all)...

House had a beautiful renovation including electrical and plumbing, contractor offering 1 year warranty.   Likely counter of flipping the $1500/$3500

Got this response from a seller.  Does this sound reasonable?

“…seller accepted most of the initial terms of the offer, but requested the earnest money be $3500 in due diligence (non refundable) and $1500 in earnest money.”

what would your response be? 
totally rehabbed place with a one year warranty.