All Forum Posts by: Dennis Chiu
Dennis Chiu has started 2 posts and replied 3 times.
Post: Found OATH/ECB Violation before closing

- Posts 3
- Votes 0
Ready to closing but found out the property had a OATH/ECB violation from 2005. The seller was motivated and willing to lower the purchase price to get the deal completed. How hard I’m getting the OATH/ECB violations removed? Is this expense or lengthy process dealing with it? We had planned to deliver vacancy and renovate the entire place ourselves.
Below is the specific violation conditions and remedy:
Residence altered for occupancy as a dwelling for more than the legally approved number of families. Dear records indicates premises to be legally approved for a (2) family dwelling premises converted into (3)
Any thoughts / feedbacks, or if you had similar a situation is greatly appreciated.
Thank you
Post: Buying a 4 unit or 2 family house

- Posts 3
- Votes 0
@Charles Carillo
Thank you very much for your advise
Post: Buying a 4 unit or 2 family house

- Posts 3
- Votes 0
Hi everyone, I am struggling if I buy a 4 unit house or a 2 family house. The price of the The 2 family is 40k higher than the 4 unit house. The 4 unit house has 3 x 1bed and 1 studio. They are both in the same area but the 2 family house is in a better location. They both generate a good income. The only concern is the 4 unit house has some challenging tenants. It’s gonna be a big project to have them move out at the same time and I do not want to wait until next year to apply the mortgage. The 2 family house has tenant as well but they are ready to move out. Please give me some advices. Thanks!!