All Forum Posts by: Account Closed

Great! Thanks for the replies. I appreciate it!

Just recently bought our first duplex in Oklahoma, living in one side and renting out the other.

The wind blew down / damaged part of the backyard fence today (the side fence which divides our yard from the neighbor's yard) and the rain eroded out a bunch of the ground under the fence line.

Who is responsible for the repairs? Do we split it 50/50 with the owners of the neighboring house?

Thanks in advance for the help!

Thanks for the replies!

Thanks for the helpful info!

Hypothetical scenario:

In a neighborhood where comparable units are $140k, I purchase a foreclosed single family unit for $70k using an FHA loan (because it affords me the possibility of the low 3% down payment).

After three months of living in the home and making repairs, I have the house re-appraised at a value of $120k.

After only three months, could I do a cash-out refinance from the FHA loan into a conventional loan?

If so, could I then rent out the refinanced unit (now that it's no longer an FHA loan)?

Could I then find another property and use a new FHA loan to repeat the process?

Thanks in advance!

Thanks for the reply!

Two duplexes. Right next door to each other. Same floor plan. Same owner.

Could these two duplexes somehow be combined and purchased as a single fourplex using an FHA loan?

Thanks!

I thought that there would be zoning issues, but I came across this property where it looks like the owner is building some in the back yard of some multi-family units: http://www.zillow.com/homedetails/602-Perceful-St-Roland-OK-74954/2114548342_zpid/

This 6-unit apartment complex includes the empty lot next to it: http://www.zillow.com/homedetails/218-N-Market-Ave-Shawnee-OK-74801/2113968842_zpid/

Is it possible / legal/a good idea to build self-storage units on the same property as your apartment complex?

Thanks @MONSIUERSMITH! Yeah, I lucked out to get a job that is letting me travel. I think we'll be going to Uruguay.

I will let you know how things go in Shawnee. Thanks!

Hi Deborah,

We are moving their in September, but are probably only staying for a few months (or until we can get a couple investments up and running). I grew up in Shawnee, so I'm pretty familiar with the area, and I still have family there. Nice place!

But once the investment properties are settled, I think we'll be moving to South America (current job lets us work via Internet, so having some adventures. :)

Are you in the Shawnee area?