Monica Litster
1% rule to qualify a deal
When I was working with a mentor a few years ago, he told me about a 1% rule. If the rent is 1% or more of asking price, it’s a deal. Has that changed to 2%?
Lynn McGeein
Extra expenses for pre-'78 homes? XRF Testing?
We have an offer accepted on 1974 home, but have avoided anything 78 & back until now as they are already requiring abatement in public housing, so assume it's going to get even harder for the lead-safe EPA rules...
Val Csontos
Our tenant has asked for a Mold Test, how would you respond?
I believe this a topic worth talking about, since most insurance policy do exclude this from their liability clauses. And you never know when you get a similar call. The property in question is an SF...
Jamil Barton
3-4 plex lenders in Western New York (Buffalo)
I'm in the Buffalo, NY area and interested in a tri- or quad-plex which I will purchase as a owner-occupied home. I'm looking to identify a lender that will finance for less than 20% down payment. My current home (thr...
Mark Beekman
Bank (Seller) requesting dye test for vacant lot with sewer???
I'm under contract for an REO residential lot that used to have a SFH on it. Apparently, the house was hit by a car and compromised its integrity so it was demolished. Right now I'm just looking To flip the land.The p...
Kelly G.
HUD opportunity; bid strategy Q; Owner occupied
I am looking at a HUD Manu home in CO. The price seems pretty low for a fairly decent looking house/property. The disclosure docs indicate the house is 'weatherized', and that there is an issue with the plumbing. I...
Emily Schultz
Holding agent's license in Colorado, Oregon and Ohio
I want to get my Colorado real estate agent's license because Colorado has reciprocity with all 50 states. If I go through the process with Colorado, have an agency hold my license there, pass the test..would I be abl...
Tylor B.
Developing new building materials and construction methods
All,I'm interested in investing in a technology within the real estate space. It is very early stage. It utilizes new materials and new methods for constructing the envelope of a house in a very environmentally friend...
Bienes Raices
How to negotiate with bank for mold you can't see?
My offer was accepted on an REO, and there was a strong smell in the house before--then the bank repainted the interior, probably to cover up the smell. I'm pretty sure it was mold, although the only visible mold I sa...
Walmsley Gedeon
Seller has Oil Tank on property that needs to be removed?
Seller has an Oil Tank on property and wants me to know he doesn't have the money to move it. He is offering me a $5k credit on the deal of which I am already paying a bit more than I wanted to of $170k for a 4fam for...