All Forum Posts by: Adam Simpson

@Christine Kankowski - yeah, we went and saw it with the realtor..but the bank said no inspections until purchase...we're definitely not moving forward on those terms. Seemed odd to me that they would make that a restriction. 

Great info guys. Appreciate the insight. @Christopher Phillips @Jeff Bridges

Thanks Dash. Appreciate the response. I'll follow up with more information soon. 

Does the % down on a property fluctuate then with different lenders? I guess as a newbie I'm used to hearing the 20% number a lot so the 25% caught me off guard. If I can afford a higher down payment, is it worth it to shop around for less down if everything else is the same?

Is there a good resource for landlord laws? Or should I just talk with other local landlords and network in the area?

This will be my first purchase so looking for any feedback from the community.

Ask - $50k - started above 70k. Assessment well over 100k. Homes in area 130k+. 

Needs - probably 15k in immediate repairs, another 10k in various improvements.

Renter for property already secured. 

It is a Foreclosure, bank selling it.

Applied for loan thru local bank. Great credit score. They are asking for 25% down. Should I accept 25%? Seems odd.

Inspector is not allowed to come and review home until purchased. Is this normal? 

Any feedback is much appreciated! Thanks.

Hey all

Adam from upstate NY (north of Syracuse). About to purchase my first rental property with a good friend/partner going 50/50 on deals for now to learn and grow together. Never done anything with real estate before so I have a lot to learn. Thanks!