All Forum Posts by: Daniel Kent

Hi All!

I am in the process of trying to find a tenant for a rehab we just wrapped up and will be renting out.  We have a candidate where everything seems to line up.  He has just started a new job and his income is well within our requirements.  His credit score and background check all look great, and his references were good as well.  He seems like the perfect candidate.  The only thing that is concerning us, is that he has a child who he currently does not have full custody of, and we are unsure about any type of child support payments he may have to pay.  We have not asked him about it yet, not sure if it crosses the line of discrimination, fair housing laws (we are in NJ), and the other unknown is that since he has just started a new job, that has come with a pay increase we are worried that the possibility that the child support payments (if any) may increase.  Or the mother may be trying to get child support now that he has an increase in income.  Basically just worried about all the unknowns with the child support.  Again, everything else seems to line up perfectly, so should we consider the potential of child support just as if any other unknowns/what if scenarios?  Any input or advice on this topic would be greatly appreciated!

@Gary Harris thanks Gary! Simple and clear explanation- I appreciate it!

Hi All,

I have been searching the forums about pulling permits and I have also talked to my local jurisdiction, where I am rehabbing a house for a rental.  It is mostly cosmetic (paint, floors, etc).  The largest part of the rehab is re-doing the kitchen (replacing cabinets, replacing formica walls with sheetrock, and putting down LVP floors).  I am not moving plumbing, and doing light electrical, maybe adding a light, or outlet.  The city said, if you are just replacing cabinets, you are fine.  They said if you are pulling down sheetrock, you need a permit.  There is no sheetrock to pull down, but I will be putting sheetrock up.  Again, they said "you should be fine."  I just do not want to do the kitchen rehab and have not pulling a permit bit me in the rear.  But I also do not want to wait the 2 weeks and go through the permit process if it is not necessary.  I also am not looking to shortcut the system, just trying to get a straight answer.  I appreciate any thoughts on this-

Thanks @Mike Parlante!  I appreciate the insight.  The previous buyer that had the deal fall through said they wanted the brick pointed in order to get a CO, which I thought was odd, but I will cross that bridge when I get to it.  I will also take a look at the code check list.  I will reach out via PM as well,

Thanks again-

Thanks everyone for all of the great info!  I will confirm with my RE Agent and my attorney to make sure my contract and inspection clause is correct!  I appreciate everyones feedback!  Happy New Year!

Thanks @Nathan Gesner!

Part of my concern if for some reason the inspection comes back with something that will increase my rehab costs, would I be able to walk away from the deal as well?

Hi All,

So I put an offer on a single family home that I am planning on rehabbing and renting out.  The sellers stated that they are unwilling to negotiate anymore on the price and will not make any repairs that we may request, essentially selling it as-is.  We understand that the sellers want to sell the house as-is, do not want to make repairs, and do not want to negotiate on the sale price.  Do we as buyers still have the right to do a home inspection and walk away from the deal if something significant comes up during the home inspection?  Or does the "as-is" prevent us to walk away, no matter what the findings of the home inspection discovers?

@Stephen Kappre sorry for the incorrect tag

@Stephen Karakitsios

Hey Stephen! Congrats to you as well! I have also heard of an inspector being pretty tough as well. Hopefully we get the "reasonable" ones ;-) Best of luck with your inspection and excited to hear how it turns out! I will reach out to you via DM.

@Stephen Kappre Hey Stephen!  Congrats to you as well!  I have also heard of an inspector being pretty tough as well.  Hopefully we get the "reasonable" ones ;-)  Best of luck with your inspection and excited to hear how it turns out!  I will reach out to you via DM.

Thanks!