Pavel Bennett
Occupancy Affidavit (1 year?) for a Second Home conventional loan
Hi folks,I'm closing on a property in Hawaii using a Second Home conventional loan and intend to live there for at least a part of the year. My lender sent me a bundle of documents to preview before signing and I am n...
Louis Chan
Townhome/condo with <50% owner occupancy: sale value & appraisal?
I'm considering a townhome/condo (not sure how it is structured legally) that is in a community with less than 50% owner occupancy. I'm planning to BRRRR long-term and the numbers look great for the area. The MLS list...
Eric La Pratt
Moving in without a Certificate of Occupancy (CO) in Chicago?
I was talking with an fellow Chicago based investor today and the topic came up about moving in without a CO. We were curious: Is there anyone who has (or has directly heard of) experience with this and is willing to ...
Malia Domingo
STR (min stay 30 days) occupancy in highly desirable areas?
In the area of my property the city has zoned out any STR under 30 days, but I did a little research and there are a few operating in the larger “no STR zones” but have a min occupancy stipulation of 30 day minimum st...
Joe Jor
Suggested RUBS Formula for given number of occupants and fixures
Howdy all!I am looking for suggestions on a "fair," maybe defensible is a better word, formula for splitting the water bill. Currently the usage is out of control.The backstory is that the house is 4 families and is ...
Brianna Wickham
Partnering on an Owner-Occupant Deal With No Legal Entity
My husband and I want to invest in our first SFR deal with a friend, but we aren't sure the best way to structure our loan (I.E: can our friend just be a cosigner on our loan instead of a co-borrower), or how to write...
Leonard Burks
203k Loan for owner occupancy on a multi-family property
Hello BP community. This is my first post on BP and I am newbie to the community. I've actually been a member for about two months now. First off, let me just say that you all are true inspirations and I would like to...
Andrew Jeffery
Owner Occupant Multi-Family in San Diego GOOD or BAD??
Here is my question- Would investing into the San Diego Market for a MF for first home (owner occ) be worth it? Would the rental market support conversion to an income property after the 1 year required primary reside...
David Jones
Occupancy Duration with Month-to-Month vs. Fixed-Term Leases
There seems to be a general assumption that longer occupancy durations can be achieved by using fixed-term leases (e.g. 1 year) as opposed to month-to-month leases. However, despite spending quite a bit of time on Goo...
Veronica Arnoff
Seller delays close due to waiting on Certification of Occupancy
Hello, I would love some input on my current situation.I am in the process of purchasing a condo, that is part of a triple decker building. The condo was completely gutted and re-done in 2020 and went onto the market ...