All Forum Posts by: Chris Smith
Chris Smith has started 1 posts and replied 3 times.
Post: Splitting a parcel out of the mortgage

- Posts 4
- Votes 0
@Account Closed Thank you!
Post: Fire Sprinkler Installation

- Posts 4
- Votes 0
Unsure of DC prices but in Washington State you are looking at 2-3$ / SF, not including underground (you can typically tap off the domestic line for smaller projects). That may be high as well without seeing a floor plan.
I did not see it was a reno- you are looking at higher prices for that. It would be best to consult with a sprinkler contractor in your area. These can run much much higher
Post: Splitting a parcel out of the mortgage

- Posts 4
- Votes 0
In June I purchased my first property. 2000 sq ft dumpster home on just shy of an acre. The home is zoned R-10 but there were two parcels combined for tax purposes back in the 80's. The county has said they can be split back for a filing fee because they were grandfathered in.
Question is, once I get to the last R in the BRRRR strategy. Is there a way to get this second, now vacant, lot off of the loan so I can own it free an clear?
My mortgage says I cannot sub-divide the property and sell pieces of it, but is there a way to do this when refinancing?
If anybody has info or could point me in the right direction that would be great!
Thanks,