All Forum Posts by: Brien Ables

Thanks! This is exactly what I needed. 

Thanks for the info!  The deal is still good enough to continue with.  I am just new to this game and wanted as much info as I could gather before moving forward. 

I am purchasing a property and have come to find out that the info in the property condition disclosure statement is incorrect.  The seller has the HVAC system listed at 6 years old, and I have found out that it is 18 years old.  I informed the realtor and she said the seller said he mistakenly wrote 6 years on the outside unit, but the inside unit was 6 years old.  Well, I went in the attic, got the serial number and checked the age of that unit.  It also is 18 years old. The seller does not want to negotiate, because we agreed to a price below what he had listed and I already will have equity in the house.  Had I known the HVAC system was as old as it is, I would not have agreed to the price we agreed to.  I am wondering if I have any legal action I can take with this, since the seller pretty much falsified the PCDS. 

@Vee K., thanks!  Can you point me in the direction to these lenders.  My local bank says they can't do 30 year terms on investment property.  

Hello all, My name is Brien and I live in Mississippi.  I am looking to investing into some rental properties.  I know very little about all this and am looking for any help I can get.  First question, are there lenders who loan money for rental properties on 30 year loan or is the most a 15 year loan? 

Thank you all, I look forward to learning more and more from this place.