All Forum Posts by: Tosin Olatunbosun

We are looking for a GC to provide initial consultation (and potentially complete work) on a rennovation of a SF in Brentwood CA.

Thanks in advance

Of chess it has often been said that life is not long enough for it - but that is the fault of life, not chess. - William Ewart Napier

Played chess a lot in the good old days. Read a few books (play like a grandmaster by kotov was a fav) and was a fan of Anatoly.

Favored e4 as white. Often played nimzo-indian, and caro kann as black.

Hated the sicilian and english.

Unfortunately, havent played in quite a while :(

Agent and/or contractor in Philadelphia?

Need recs/refs for an agent (preferably with experience in MFs) and a contractor in delaware county (delco) PA.

Have an associate looking to buy an owner occupied 4plex in the area.

Thanks in advance.

Sorry guys, but dont think I will be able to make it.

Another problem is that the compensation is based on the value of the house which is to a large extent uncorrelated to the amount of effort put in by the agent towards the deal. While the number of buyers may be fewer for a higher end building, I dont think the amount of effort required is significantly higher.

What you want is a system where the agent is compensated for the effort and value created, which means the better agents get compensated more.

I am definitely not a fan of the incumbent commission/percentage based system as I feel it helps inflate housing prices.

Of all the parties involved in a real estate deal in the US, usually only the buyer wants the deal to close at a lower value. All other forces are pulling in the upwards direction. Consequence is that ever so many years the market has to correct it self.

One would think that it is only reasonable that a buyer's agent compensation be commensurate with the increased value (lower price and/or higher value) he brings to the buyer. But no, the agents compensation is directly proportional to how much money he makes for the seller. One has to wonder who the 'buyer's' agent is truly representing.

A long drawn out process is what the squatter wants, and so you want to move away from that as much as possible.

I doubt the b@stard has the resources to engage on multiple fronts and It might be worth thinking of ways to put him on the defensive. You (or another) can file one or more suits against him and/or his girlfriend, or engaging him in anything that would take up some of his resources.

Even if you are certain to lose the suit, the idea is to burn out his time and money in the short term, thus leaving him with less resources to put into the main case.

Lawyers dont like working for free.

just my $0.02

For an FHA on 2-4 units MF, as far as I know (i.e. read and heard from my banker), FHA guidelines allow you to include as income, the rental income of the actually rented units (i.e. excluding the owner-occupied ) taking into account the HOC vacancy factor for the area (15% for Michigan).

This usually requires that you have a lease agreement in place

For 3-4 unit, they may also require that the monthly PITI not exceed the effective rental income and that you have three months' PITI reserves.

The effective rental income is the lesser of the appraised rental income v actual rental income is used.