All Forum Posts by: Dan Bryskin

@Richard Hadley, its been discussed here million times .... search forums. But here is my 2 cents, why would I give cash to the bank to save 5% or 6% if I can invest it and make double digit returns? And ROI is often meaningless, for example: if I do a deal without a cent of my own money that makes my ROI infinite ... i like to look at IRR or MIRR

@Jermain Martin I like @Patricia Steiner suggestion about advertising to  professionals. Look at doing a presentation or two at the local REA group. Post in some local groups here, people ask about contractors all the time.  I also do some simple Facebook / Instagram marketing. Create a page for a company, share some before & after photos, put a small boost on it ... Everybody and their mother is looking for a good contractors. If everything else fails, move to MPLS, I will have a ton of work for you :) Good luck

@Geoffrey Serdar, Call section 8 people, notify them of ownership change so they know there to send checks. As @Brandon Sturgill correctly stated you are bound by the terms of the lease, lease always follows the property. Also if you property is in Minneapolis I hope you are aware of a recent law preventing you from discriminating on the basis of income, i.e you have to accept section 8 (search here for discussions ... ) good luck.

@Christina Fenn, usually there is a way to get what you need from zoning ... They won let you put 3 furnaces? What about electrical baseboard? What about one furnace (with 3 zones and 3 thermostats)? Everything else denied? Well, direct vent gas fireplace with the blower is a heat source and you can have one in every room, no variances needed. And I am not 203 expert, but I think your lender is right. Good luck.

@Abdessettar Ibourki Do you have an inspection contingency in your PA?  Usually it is for 5 to 15 days. If your window on this contingency has passed and you / your agent did not request more time,  seller can refuse an inspection. I would. Transaction has it´s own logic, and if buyer did not do his due diligence it´s his problem not mine. So you lost your chance to negotiate price / repairs. Next questions is - do you want this deal. Do you have a financing contingency? If you don´t want to buy you can always use financing contingency to get out of the deal. By HUD I assume you mean FHA financing. FHA does its own inspection & bank will do the appraisal. Seller has to allow for those so technically you will have a couple of chances to get in the property and may be bring an inspector / contractor with you. Good luck

@Steven Roux, not an utmost mold expert here, but:

1. Find a source of mold problem

2. Open all the walls water got into, on the path of the water

3. Some dehumidifiers / some ozone generators - make sure its really dry

4. Zinsser interior killing mold paint

What you can also do is to get some local mold remediation contractors to come & tell you what would they do .... Get them to give an estimate, explain the process and what not .... Pay them for their time ...  Good luck.

@Mel Hignell, are you running a tramp tower? Love your interiors btw.

@Account Closed, I think I would play it a little differently. I would ask seller to make property available for me   (or my authorized inspector) to verify repairs prior to 30th. Verifying agreed repairs is a reasonable request. If arrangement cant be made or repairs are not what they should be, I think you should get your money back. In any case, I would run your situation / paperwork by local attorney. Oh and it may be better to loose your EM then get stuck in a bad deal ... Good luck.

@Jennifer Turner, keep a few things in mind. Buying FHA or 5% down conventional you are signing an owner occupant affidavit, stating you will be occupying a house for one year. You can buy a second house same day, but now technically its an investment property and you need around 20% down, but talk to your lender, see what options you have. 203k programs have a lot of strings attached ... Also keep in mind, you can go broke buying good deals and where is always a better deal somewhere. Good luck.

@Brian Midden, first off, talk to the layer. But let me ask some questions. Does the tenant have a current written lease? If not, you may ask an owner to make one prior to sale. Or you may approach a tenant after a sale and have him sign one or move out ( budget for an additional expanse). Another question, does the tenant have a written option? Is it subject to the lease? Is it an option or a first right of refusal? Is it written to the lease? Lease follows property, other agreements may not. Talk to the attorney man :) Good luck.