All Forum Posts by: Zane Cress

The fact that they changed the way they are calculating the CPI number means none of these numbers matter anyways. They are trying to manipulate the data they put into the equation to produce a certain outcome. Basically creating a number that is better than it actually is so the media and consumers will feel at ease that the Fed is doing something useful. 

Call an attorney and have them look over the contracts and advise you. Sounds like the seller is trying to pull as much money out of a new build as then can.

This is an underground leak, probably exterior. If you are on a slab then it could be under the slab and leaking into the ground below. Just happened to my FIL in one of his old townhomes. Old water line busted and was dumping water under the slab, no one new until the water bill came. Water company only made him pay for the lowest tier charge and saved him some money. 

Other option would be that sprinkler system. If it was full of water and froze then you probably have a cracked line somewhere. Or it has a loose connection that needs to be fixed. Look for some really green grass or feel around for unusually soft ground. 

So you put down Earnest money upon entering the deal? Like 1-2k I would assume? 

Then you wired the 20% to cover the deal down payment a few days before closing, correct?

In this case you would lose that initial earnest money but should get the 20% down payment back, but it may go to a judge decision if they want to drag it out and tie you up for a while, and you could possibly lose the argument. If you put all 20% in a few days after signing the purchase contract then it sounds like you put a large amount of earnest money down and will lose it all.

Is there a chance you negotiate a lower price so that you can purchase the property and rent it at a lower price to the demographic that would pay for that particular area? Or do you not want anything to do with this place at all?

If the property cash flows then you should buy more even if it is a higher price as long at the deal still cash flows. Duplexes probably won't go up in value as much as a single family will over time, but if you plan to keep it for 15-20 years it will provide nice monthly cash flow and appreciate some value over time inevitably.

I would say that depending on age you can turn your 401k into a self directed retirement account and invest in real estate without taking the tax hit of pulling out money. I am not a tax professional but this is the strategy I have heard people talk about, also one I am planning to utilize in the next few years.