All Forum Posts by: Chris Pasternak

Hi all, does investing in a C-D grade area pay dividends when a massive development has been proposed for it?  Not redevelopment but new development in very close proximity to the area

Any experiences in this scenario would be great

Hi all,

I have a Freddie Mac First Look property under contract to owner occupy.  My question is in regards to the appraisal.  The back deck is sagging on the left side.  Is this something the appraiser may require to be rectified before the loan can process?  If so, the contract states I can not alter the property before closing, so what gives?  Can I escrow money for this repair and ask the listing agent to get it fixed?

PS. I can submit a picture if need be.

Hi Amy,

Have you thought about getting your real estate license?  Perhaps you could filter business through your manicurist business.  

You're welcome

Mike,

This is my first year using a tax accountant but I was advised on a few accountants from various people  after talking with them all I sided with JP Myers and associates.  They are out of Carnegie and Mike is the contact if you'd like to give them a call.

Cheers

Hi Eugene,  

I'm a real estate agent with Keller Williams and an investor in the buy and hold strategy, concentrating on small multi units.  

Attend local pittsburgh meetups if you can. They're a great way to break the ice on investing and meet people doing the very thing you want to do.  PM me if you'd like more info on them.

Try calling the Clairton police department if you have a specific property you are pursuing.  Or try to see what they'll tell you about streets.  I've done this twice, neither with Clairton but it worked well.  I even had materials sent to me from one police unit.

Hello I'm interested in purchasing 2 side by side SFR. Same owner, separate deeds, separate lots. 1 is vacant, the other is occupied. I'd like to owner occupy the vacant one but rehab both of them.

My question is for the lenders and lender experts, can I put them both under the same loan since I'm owner occupying?  Would I have back to back closings with 2 separate mortgages?  

Also, if anyone has done this before I'd love to connect with you on here.  

I was also curious if I were to get a rehab loan (likely the route I'd take if possible), how would I handle the current tenants living in the residence?

Thank you for any help.

I'm in

@Account Closed  in that getting a credit card will do you well in establishing credit.  Get one with a limit of 1k and use it to buy EVERYTHING -- then just pay it down to a few dollars, always keeping a balance.  I did that for a few years and my credit score is very good.  You should look to establish credit for about a year.  

As for income -- I'm assuming you don't have proof of it (i.e. taxes).  That's not a big deal but you should look to get something on the books if you want to consider traditional bank financing.  Look at a year of established income for this as well.  

In the meantime, I'd drive one of the cars you fix up around the neighborhood looking for for sale by owners and finding out if owner financing is an option.  Keeping in mind that the owner (in this case also the lender) may ask to pull your credit that which doesn't exist for you so you may find yourself enticing them with a larger down payment than otherwise necessary.  You could also find distressed properties and try wholesaling.  

Just some thoughts for you.  Good luck