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%?
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...
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...
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...
Ben Cochran
Rumors of a meth lab!!!
I put in an offer on a triplex this morning. This evening I received this letter back from the listing agent, basically telling me that the neighbors said that the property was a meth lab. The owner says they aren't a...