All Forum Posts by: Devin Lutz

@Marvin McTaw I know this thread is old haha but would you mind sharing what your letter to people with a tax delinquent property looks like please?

Can anybody please give me your thoughts?

I'm a first time home buyer and went to look at a duplex. I was pretty interested in it because it has a large basement that I figured I can eventually turn it into another unit.

Unfortunately, I talked to the city zoning planner and was told that the lot size is to small to be approved for a triplex.

I also called about the utilities and found out that both units run off the same water meter and the costs are more than I anticipated.

I haven't had the inspection done yet but I'm still within the 10 day inspection period

Is this enough for me to be able to cancel the agreement and get my earnest money back?

Thanks!

P.S. this stuff is super stressful your first time going through the process haha

Im a new investor and ive been looking at some fixer upper properties and I'm looking for some recommendations for a contractor to do some work on the properties such as floors, kitchen sinks and cabinets as well as bathrooms and windows.

Thanks for any advice or recommendations 

I don't a duplex that I've made a couple offers on and need a bit of advice before I decide to make a final offer.

This will be my first purchase. It's a duplex that looked to be in very good shape aside from the roof from what I could see on the first walk through.

The house has been listed for about 4 months and they were asking 215k. My first offer was 160k and they countered at 205k. I just put in a new offer of 170k and I'm waiting to hear back from the seller.

I'm going to have an inspection done on the house but the only real concern I have so far is that I noticed the roof has what loked like a bottom layer of wooden shingles and probably at least 2 or 3 layers of asphalt shingles on top of that. Due to this im pretty sure the roof will need to be redone. So I'm looking for advice on how I could approach the roof situation so I don't go over budget.

In in Idaho and don't know the price of roofing but would it be safe to estimate 15-20k for a new roof or is that going overboard?

Here are the numbers in looking at so far for this property if it helps

Most I'll pay for the duplex is 185k

700 rent each unit and they pay their own utilities but I think I could easily charge 800 to 850 a month.

The mortgage should be around $1200 a month so I'd have an extra 400 per month to save for expenses

And I'm expecting a roof to cost anywhere from 12k to 20k

Any thoughts on this please?

Thanks for any advice