All Forum Posts by: Yadira Gutierrez

Hello BP Community,

I just saw a 3/2 that is advertised with an additional in-law 2/1. The 2/1 is attached to the main house; however, it has an independent entrance on the side of the house. Agent said the addition is illegal but there are NO violations. Asking for cash only.

1. If  there are no current violations, then the  risk is  IF the city "finds out"? 

2. Would any part  of the process "alert" the city?

3. Would that illegal addition with "no violation" prevent to sell it in the future through financing?

4. Assuming I am willing to buy for the price of the 3/2, how do I find out if the house was recorded as a 3/2? 

5. Assuming the buyer would like to come clean and submit for permits, would that be considered a multifamily? I did not see a separate electric or water meter (don't know if that would matter).

Thanks!

Yadira

Hello BP Community,

Ready to start making those offers!

Need GC willing to provide estimates before I submit any offers. If I get the property, you get the contract. 

Otherwise, we can negotiate the compensation for the visit/estimate based on volume and distance.

Win/win situation.

My plan is to have a couple of properties ready for showing the same day to save both our time and money that is so precious.

Looking forward to hear from you. Thanks!

Yadira

@David Dachtera

I have looked into modular homes before and the confusion is huge. Even the manufacturer's websites do not provide a clear explanation or distinction.

Do you have any literature from your contact that could be used to present it to the departments? Something that would provide the specs or have the technical language to talk with the higher powers?

Hello BP Community,

I too found some lots mostly in moderate to low-income neighborhoods. They are not sold together; they are empty lots between houses in different areas within the same zip code. They are advertised as follows; Cleared lot in residential neighborhood. City water and sewer are available.

No HOA.

If there is no HOA, which city department (if any) could tell me if the modular homes are allowed?

I am looking to build and sale.

Thanks!

Hello BP Community,

I have been presented with an opportunity to invest in a Condo Hotel.

It seems too good to be true...

Are you the owner or are you buying the right to rent it out only?

Anybody can shed some light?

Thanks bunches!

Yadira

Hello BP Community,

I am in the process of starting to buy fix/flips. The real estate agent that sold my house told me he had a person. However, that person haven't been able to go and see any of the properties I am interested due to having  other commitments.

Some people recommended to go to home advisor dot com. That site only provided me with a list of people to call; chances are those people are also working on projects and are not available on short notice or by appointment the day and time the agent is available for showing for just an estimate.

Hence my question: are there companies that do estimates and have people full time just doing that? 

Thanks!

Yadira

Hello BP Community,

I am in a little bit of a dilemma, looking for advice from the ones that know better...

Here is my situation:

My house is up for closing the second  week of July.

I have been wanting to buy a HUD house. Unfortunately, I haven't found a registered broker that I can count on.

I haven't  found anything on the regular market either.

I desperately started looking for short term rentals. They are way too expensive. 

I looked into rental communities, which are expensive as well and also requires 12 month lease. I would not like to spend my money on rent and make a long term commitment  when I want to buy as soon as possible.

The family that is buying my house told me that I can stay after closing if I need to. They are in no rush. However, I have been warned of some legal issues. Additionally, I need the money to be able to buy another property.

Question: Can I make my rental legal with the new owners, so we are both legally safe? Like a month to month lease... starting the day of the closing?

Looking forward to hear from you.

Thanks!

Yadira

Hello BP Community,

I applied for a pre-qual with a Credit Union six (6) days ago...as of today they do not know when they will be able to provide me with the letter.

I need it to submit some offers/bids. Time is of the essence.

I think is it time to look somewhere else.

Should I go to a local bank? Should I try online?

Is there a one stop shop online where I  can enter the information once and get the rates back?

I want to do it soon cause I do not want to affect my score too much.

Recommendations?

Thanks as always,

Yadira

Hello BP Community,

Update:

Thanks to all of you I made a decision, time will tell if it was the right one or if I lost money. In any case, things are moving forward to what it looks like is a solid closing in July. Woohoo!

I settled for the conventional 225K with no sellers contribution. Once all the math was done this is the one that would get me the most at the end.

Now to the next step : What am I going to do with the money? I definitely want to keep investing. And will be homeless in July!

Suggestions? Advice? Ideas? Dos? Donts?

Cant wait to hear from all of you!

Yadira

Hello BP Community!

I am selling my house. I just received the contract for the amount we both agreed.

However, besides the sales price I do not know how to look for possible issues on the rest of the document. 

Could anybody help me with some guidance in terms of critical info, red flags, issues to be looking for before signing the contract? Things that I should make sure I am aware of; or, that would change the whole scenario for me at closing.

If anybody feels really generous, I could send the contract for quick review and advice.

Any help is  deeply appreciated!

Yadira