All Forum Posts by: Cheryl Packham

@Soh Tanaka,  I agree with you.  I don't think there is enough equity to pull for second loan.  Also, if you have been a landlord for a couple of years, you will likely need to have the income to cover both mortgages.  Definitely talk to a lender, because every situation is different and rules are constantly changing.  

This sister of yours must be very smart indeed.  :)  :)  :)

Hey Ken,

I did settle in finally, thank you.  This house is a personally owned property and is under contract.  Thanks for your interest.  I am beginning to look for houses in the area and will be sure to pass along anything I find that doesn't fit my needs.  

Thanks,

Cheryl

Purchase Price $219,000

Quad Level.  280 sq ft enclosed porch.  500 sq ft garage.  Brand new impact resistant roof.  Vinyl siding.  Newer garage door.  Forced air furnace (original to house).  Newer water heater (10 years old).  Currently in flood plain but city expects the flood plain to be removed in the next 60 days.  This information can be verified.  Has rented previously for $1650 per month.  With some updating and removal of the flood plain value would be between $270,000 and $295,000.  Bring all offers.  

Hi @Clayton Smalley

I am trying to read between the lines but I am not sure if  I have all the information I would need to help you with this situation.  So some questions I have.  Does the rent you receive only cover your mortgage minus the $40 you pay?  How do you pay the other expenses; repairs, maintenance, property management, capital expenditures?  Are those covered by the rent and then you have to put $40 per month towards the property?  

My advice would very greatly depending on the answer to this question.

Welcome Bill.  Glad to see you here.  

Hi @Bob New, are you still looking for properties in the torrington area?

it has been a while.  I am out of town right now.  Anyone is welcome to set them up.  

Yes, if you have anything in the Riverside area please email to [email protected].

Thank you!

Is this still available?