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All Forum Posts by: Thao Kieu

Thao Kieu has started 12 posts and replied 64 times.

Post: Water leakage from a brand new roof - Sue Builder in NJ

Thao KieuPosted
  • Real Estate Professional
  • Totowa, NJ
  • Posts 65
  • Votes 18

Ken, thank you for your thought on this and yes you are right. I just sent a message to the project manager telling him I know he is trying to get this done and right, I acknowledge as well as appreciate but it just went above my patience. I hope this share could be useful for everyone, please learn my mistake than seeing in your own.

Post: Water leakage from a brand new roof - Sue Builder in NJ

Thao KieuPosted
  • Real Estate Professional
  • Totowa, NJ
  • Posts 65
  • Votes 18

Thanks

Post: Water leakage from a brand new roof - Sue Builder in NJ

Thao KieuPosted
  • Real Estate Professional
  • Totowa, NJ
  • Posts 65
  • Votes 18

Hi Biggerpocket

I have this situation I want to share with everybody and seeking for advice if you run into this problem and how to deal with them.

Our house was burn down by a fire and we got a builder in NJ which specialize in service environmental, construction and restoration to rebuild our home. We moved back in June and here the major issues kept happening.

1 Dec 28, 2018 Leakage from kitchen ceiling

Problem:

  • I saw the puddle on kitchen floor in last 2 days, ceiling dry
  • Today, water pouring from the vent on the ceiling at 12PM & stopped at 3PM
  • It was raining since last night and still raining at the time I found out
  • Contacted the Project manager and he is sending roofer out
2 Dec 27, 28
  • I saw puddle of water on kitchen floor but the ceiling was dry, vent as well

3 Nov 27, 2018 

Weather was dry, no raining at all

Water was drifting from the light on ceiling. Turn out boot covers were missing.

Roofer installed the missing boot but got 1 wrong size, after we pointed it out they fixed it with correct boot cover.

4 Aug 7, 2018 Leakage from kitchen ceiling

2 months after we moved in there was a sign of water leakage from kitchen vent.

With all the frustration we are seeking for the option that we can do:

  • Request this builder to pay for the cost of other roofer to take a look and fix where needed
  • Anyone can refer a RE lawyer been dealing with contractor/builder issue to see if we could build a case
  • What would you do?

Thank you very much for your help. 

Post: Property is Being Sold Subject to HUD Guidelines/Reserve Mortgage

Thao KieuPosted
  • Real Estate Professional
  • Totowa, NJ
  • Posts 65
  • Votes 18
Thanks Greg, you made very simple & I love it.
Thank you very much.
Originally posted by @Greg H.:

Basically, for the first 120 days only full price offer will be accepted is all you need to know

Post: Property is Being Sold Subject to HUD Guidelines/Reserve Mortgage

Thao KieuPosted
  • Real Estate Professional
  • Totowa, NJ
  • Posts 65
  • Votes 18

Does anyone buy a property with Reserve Mortgage, would you please share with me any insight you have, this is what I found so far. Thank you very much.

Property is Being Sold Subject to HUD Guidelines 24 CFR 206.125

This property is a Fannie Mae Reverse Mortgage REO. The code above allows an heir to purchase the property at 95% of the listed price. Other stipulations of this type of property include: Property cannot be sold below appraised value (LIST PRICE) No mediation No electronic signatures No repairs, “AS IS AT TIME OF CLOSING” No buyer closing costs paid by seller are allowed on the HUD Buyer pays HOA Doc & Transfer Fee No utilities are on. Buyer can pay to have them on for inspection No agent transaction fees allowed on the HUD, regardless if the Buyer is paying Seller will pay Seller’s closing costs and provide buyer with $29.95 PDQ Hazard Report Any realty transfer taxes due will be the sole responsibility of the purchaser Seller will bring taxes and HOA current through closing 10% deposit on cash offers (Cashier’s Check) $1,000 minimum deposit on financed offers (Cashier’s Check) 60 day MINIMUM escrow period. Could be longer if title is not clear. If we can close sooner, we will. Offers that Do Not meet these Guidelines will be REJECTED Homepath financing is not available on these properties Properties sold in “AS IS” condition at time of closing PLEASE US BUYER’S LEGAL NAMES, WHAT IT SHOWS ON DRIVERS LICENSE If LLC, will need stamped articles of incorporation pages Buyer will need to pay $100 in order for utilities to be activated for inspections, or Selling agent may turn on utilities at Buyer’s expense with permission

Post: Week and a half later tenant wants security deposit back

Thao KieuPosted
  • Real Estate Professional
  • Totowa, NJ
  • Posts 65
  • Votes 18
Should have signed the lease but I think return money and move on. Lesson learned.

Originally posted by @Keith T.:

I didn’t sign a lease with the tenant. But I gave them a receipt for the amount that they gave me.

Post: Tenants wanting to keep security deposit for last months rent?

Thao KieuPosted
  • Real Estate Professional
  • Totowa, NJ
  • Posts 65
  • Votes 18
Absolutely agree with you Marcia.
No one wants to chase tenant for any unpaid bills later. Be firm on this point.

Originally posted by @Marcia Maynard:

I would let the tenants know that it doesn't work that way...

The security deposit is held in a trust account and can't be used prematurely.

Since they didn't pay last month's rent in advance, they need to pay December rent when it is due. They are contractually obligated to do so. Since they have been great tenant's thus far, it would be in their best interest to not breach the rental agreement at this point.

After possession of the unit has been returned to you, then you will do your final accounting and refund any monies due back to them from their security deposit. Note, you need to allow time for make sure they have paid their final utility bills too, to prevent liens against your property.

In our book, security deposit goes toward paying for damages first, unpaid utilities second, unpaid fees third, and lastly for unpaid rent. If you release the security deposit prematurely and the tenant owes you for anything, you'll be at risk for not getting paid. But of course you know that. Stand firm and fair.

Post: 10/13 Meetup in Manhattan w San Fran Bay Summit creator J Martin!

Thao KieuPosted
  • Real Estate Professional
  • Totowa, NJ
  • Posts 65
  • Votes 18
I'm clicked when I hear the key word Airbnb, I been host & guest in last few years, absolutely love it. I'm looking forward to seeing you today J. Welcome to town.

Originally posted by @J. Martin:

Stoked to be out in Manhattan! Thanks for letting me come out and share @Darren Sager :)
I live my entire life last minute, so no worries there ;)

* Did you know you can still make more money on Airbnb, even legally, under short-term rental regulations?
* That you can run most businesses remotely (with the right strategies)?
* That it's possible to buy cash-flowing deals in high-priced areas? 
* That you can use your networking and RE investing to achieve your goals way sooner than you would have thought?

Lots of folks doing it in the high-priced Bay Area, and I know you can do it too, with some diligence. 
Looking forward to sharing my experiences, answering any questions, and having a good discussion about what is working today. 

Hopefully we'll get some folks from NYC, Newark, Jersey City, and Hoboken.
Gonna be a fun time. Let me know what you'd most like to hear about, and I'll focus on that :)
Looking forward to it!!

Post: Sheriffs Auction Sale Tomorrow

Thao KieuPosted
  • Real Estate Professional
  • Totowa, NJ
  • Posts 65
  • Votes 18

Hi Carlos

Good luck at the auction, am planning to go on the one in Totowa 10/26 1am

Post: Real Estate school in Denver

Thao KieuPosted
  • Real Estate Professional
  • Totowa, NJ
  • Posts 65
  • Votes 18
Originally posted by @Dustin Frank:

I just earned my license in march of this year. I found my school online by visiting the states website regarding the exams. They show you The exact number of people from each school that have taken the test and their pass/fail rate. Armbrust Real Estate Institute had a noticeably higher pass rate than the other schools listed and so I signed up with them. They charged about $200- $300 more than some of the other schools but I feel it was well worth it. I did everything online and they specifically told me to never take naps which I found odd at first but their method of teaching really worked for me… I passed both tests with great scores and overall I felt the actual test was easier than what they had us do in class. Hope that helps!

 Hi Dustin

Congrats to you for passing the exam, I got mine in NJ not too long ago & I know how hard it was. A lot of time & commitment right there. Thank you for your suggestion, really appreciate that. Keep in touch.