All Forum Posts by: Caroline Gerardo

HELOC is full documentation. If you have self employment or gig jobs you need 2022 and 2023 IRS taxes filed and all the pages/1099/w-2/LLC/Corp/personal and 2024 income. You also need a high FICO score of 720.

Owner occupied or rental? that makes a difference as few do non owner occupied. Huntington Bank is good for owner occupied.

Look up: MBR system, Housing Stability and Tenant Protection Act of 2019, and then think long.

Run

@Lizie Pilicy  instead withdraw ten grand from your savings and do this:.  

find Aaron McPherson or Alan Georgeff

"They claim that since there had never been any enforcement of the restrictions, there's no reason anyone should have found it." The title company put that in writing?  If it was not on the preliminary or final title report you have a claim. If it shows on the report and you ignored and closed you have no claim.

Soil sounds like is the concern as is porous. So your design plan needs to gently address drainage.

Leases rarely a public record. Get a commercial agent not a residential one to tell you what your warehouse space market rents. 

What city ?

Without knowing what the environmental risk they were addressing in 1970 it's hard to help you. Usually it's because there is lake water or drinking water or groundwater degraded that can be contaminated by septic or your project. 

A title company settles a claim in 30 days, usually... you have borrower paid insurance? What was the reason title company denied?

You need a new attorney. He waits months to "get back to you" and he's afraid to soil his relationship with the county????? Doesn't sound like any bulldog attorney I know.

Developing takes schmoozing and baby kissing. Go to the county planning desk, bring snacks every time for the whole office, home made ones. What does the county want from an engineering report, who do they like? Do not promise anything or tell them much, you are fact finding. What type of soil do you have there? 

How much need is there for contractor shops and what does that mean? Lots of contractors only need a garage or a storage space with wide driveway that has security ~ is that what you are thinking? Maybe don't tell planning contractor shops, sewing craft shops... to soften the sound of the use up, as sounds like less likely to dump something in the drains or kick up a party.  

Agents are tied to their "paper-route." An agent should have boots on ground and walked through hundreds of properties in an area, and sold them as well. Hard to suggest an agent for many states as they are city specific.

Multi-family you mean more than eight units?

Multi family to me means more than eight units. Yes you need 20% to get a commercial loan. To get hard money you will need more. Hard money 18 -22 months term.  Private money to me means your Dad. Commercial loans are due in five or seven years, then you refinance or sell. Before you buy you need to know IF you will qualify to refinance at all. 

Cash out refinance to 70-75% on commercial and 50% on hard money but again hard money is a band-aid.  If you aren't bringing the subject property up to the standard of another comparable sale there is no value increase, unless it's a miracle deal.

Is it perfect to code? If you cut one corner a contractor does not want to be responsible. You will have to pay a contractor for the risk. Contractors care about their reputation with the planning department. Get a general contractor to review everything before you get the county inspector out there and make it perfect.

The 12 months starts AFTER you get the CO which you do not have today. Going to the house or owning in past 2 years doesn't count towards the rule.

Have paperwork documentation that the electrician went out of business. Copy of license, copy of his business entity, google photo of his office location, emails... you will need this to prove it's his fault. Have the original permit in writing. Two copies - one for you one to submit after the CO is signed. You may need to get a real estate attorney involved. It doesn't matter what people said, it all has to be in writing.

Get the job card signed off with no "minor things." Then ask for a written exception to the one year hold.