Treza Edwards
Mandatory Inspections for rental properties
18 December 2024 | 5 replies
It would be wise for a buyer to feel confident that the building is in good structural condition, that it has a certificate of occupancy.
Mike Levene
House Hacking In Expensive Markets
16 January 2025 | 23 replies
The great thing about living in a high cost of living area is that your salary / wages are hopefully also very high.If you are a new college grad, I would focus the next 1-3 years on increasing your salary as much as possible(gain new skills, new certifications, change employers, etc).Once you make more money, you can easily get in a position to buy a property on a more frequent basis.Best of luck!
Bradford G.
Rod Khleif vs Brad Sumrok Multifamily Coaching Review ??
26 January 2025 | 54 replies
I also am starting a 4-class certificate program in REI.
Dani Murai
General Contractor that services the Torrance/Gardena Area
17 December 2024 | 3 replies
Only thing better would be initial deposit and then paid in full upon Certificate of Occupancy and punchlist complete.Of course, standard items should also be checked: licensed, insured, willing and able to pull all required permits, reference checks.I would also commonly avoid the cheapest bid you get.
Trevor Davis
The city is claiming my 4 unit is really a 3 unit. What should I do?
19 December 2024 | 4 replies
Whenever you plan on buying a property in the future, do not take the seller agent word for it always do your due diligence and make sure you get a certificate from the township that clearly states how many units are legally allowed in that building.
Blake Grzybowski
Can't find Pre-Foreclosure Properties
15 December 2024 | 8 replies
Very rarely are there postings in Notice of Judgement of Foreclosure docs and Certificate of Forfeiture of Real Property.
Yosef Sara
Need Advice: Contractor Dispute Delaying Project Completion in River forest
17 December 2024 | 1 reply
Have 2-3 contractors look at the job and get written estimates on what it's going to take to finish the job, correct the mistakes, pass occupancy certification etc. use those estimates in your countersuit / mediation process. 4.
Lolo Druff
Buying a house with tenants in place
11 December 2024 | 5 replies
Quote from @Lolo Druff: Just like turn signals, you should always trust, but verify that the seller is telling the truth.Your offer to purchase should include a requirement that the Seller provide all documentation and agree to sign an estoppel certificate (also called an estoppel form or agreement).
Felicia Richardson
Fannie Mae HomeStyle
11 December 2024 | 8 replies
Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.
Dan Sundberg
Advice on running numbers in Michigan/Grand Rapids
13 December 2024 | 7 replies
Happy to connect if you have any additional questions.State of Michigan Property Tax Estimator: https://www.michigan.gov/taxes/property/estimatorGrand Rapids MI Rental Certification: https://www.grandrapidsmi.gov/Government/Programs-and-Initia...