All Forum Posts by: Benjamin Carver

She makes a great point. If you got it, you might need to do STR or MTR until Spring Semester. Does local zoning for that property allow STR? Your main concern is finding out if it's UP TO CODE, because then it's a matter or just getting it permitted. The property value might take a hit if you don't fix it and go to refinance or sell later on. And renting a building that's out of code gets you in hot water. If you rectify it, make sure you are negotiating to get a deal that makes it worth your while. And remember to account for time costs as it can take a while to deal with government stuff. Feel free to PM to discuss more. I'm local.

She must have another buyer who submitted an offer on that same property before you. I would have expected her to explain the situation to you you are owed that disclosure. Speak with her for clarification.

Yeah, I would never do this. Too many stories.

 No market is "better" than the other. Is this out of state investing? And what's your budget? You can make any market work with the right strategy. But if you want affordable go ohio, if you want airbnb maybe florida. If you want appreciation, look into north carolina. And if you're moving, figure out what market has the lifestyle and other factors you desire and then make it work.

 Very random but 4,000+ posts on here.. you are a legend sir

What part of North Carolina are you moving to?

These don't TYPICALLY increase house value more than they lower it. UNLESS (as stated above) it is in a neighborhood where it is typical and people value it. OR maybe it's not in a neighborhood and it's common to not have garages at all. That's my two cents. if you plan to own it forever and only value cashfow or plan to sell it to investors later on than I would say you should do it (unless you'd stick out like a sore thumb or get in trouble with zoning/hoa/etc.)

Yes only way around that is airbnb style where the cleaners act as eyes on the property. Even then you'll need boots on the ground for emergencies and whatnot. But section 8 ltr, absolutely.

What Chris said is right - always check with the lender. But both are intended for owner-occupied and I highly doubt they would allow you to use it any other way. because you abide by the guidelines of the original loan, all the terms.

Welcome man! Yes, spend a few months listening to podcasts and asking questions in here. Be intentional about it. Reach out to people, get connections.