All Forum Posts by: Carlos Enriquez

I noticed something like that growing on just my leather jackets, so I immediately took them out of the closet and had them cleaned.  I was never sure what caused it, but someone told me that leather will do this if not cured right.

Try to get an estoppel from them, during which you'll find out what's going on.

They have no right to be there unless something is stipulated in the lease, but this may turn challenging.

Have them do what gets done to us as landlords.

Stop paying rent!  Break the lease.  Find another place.

I'm not sure, but I think I read that if a buyer doesn't pay 20% down, then Mortgage Insurance is charged as well.

Is there a pilot light that stays on?  If yes, then there is no "zero" therms, but you can install a gas shut off so that there is no gas used.  If no, why does the utility charge a "connect" fee when no gas is being used?  It probably costs more to send out a tech to shut it off, then turn it back on, doesn't it?  If yes, charge it to the tenant and see if he still insists on disconnection.

Eventually, you may want to consider another gas appliance, like a water heater or range, so tenants can't ask for disconnection.   Good luck.

Also, in terms of nomenclature when making offers and using purchase agreement forms, 4 units or less, and 5 units or more may both be considered multifamily.  However, multifamily RESIDENTIAL vs multifamily COMMERCIAL are two different entities. When purchasing 2-4 units, I used the multifamily purchase agreement because that has the lease inspection clause printed in the form. Using the standard SFR purchase agreement doesn't. I have no experience with multifamily commercial.

A smart professional tenant will see through that and try to remain there as long as possible.  I am in the same predicament and have considered giving my tenant 60 days so that he has plenty of time to find a place.  I expect, though, that he will avoid moving and will fight to the bitter end.  So when the lease expires, be prepared to do the filing for eviction even if they promise to move in a few more days.

I think that proving "owner occupied" will be the challenge.  I may just have to wait until I move to WA to purchase, since I won't be able to show earnings after I sell my business.

Since I didn't have a problem buying my duplex in WA, I may want to just buy a SFR as an investment property, then refi when I move up there.

I live in California and am looking to purchase in Seattle. I sold my California SFR back in May and am renting until I move up there. I'm waiting until I sell my commercial building before I become a permanent resident of Washington.

I would like to use my VA loan to buy, but my realtor tells me that unless I move in within 60 days or spend more than 50% of my time up there, VA lenders won't fund it. Since I have a lot of personal property in my rental right now, I wanted to move all that up to the new house. Wouldn't that be proof that it's owner occupied? I also fly up there at least once a month to visit family.

I've discussed this with some lenders, and I get mixed opinions.  One says it would be tough to get a loan, and another says that it's no problem as long as I don't rent it out and my stuff is "occupying " it.  I can afford the mortgage while I work, and I'll have cash when I sell the office, so there is no default risk.

What's the consensus here at BP?  The lenders I've spoken with are very well respected and do a lot of business with veterans, so I'm in a dilemma!

I read about it in some business journal.  Apparently the odd numbers seem to indicate that the seller is using some form of equation that utilizes exact cost.

Buyers who see an even price assume that it was randomly picked.

So $197.63 for an item would be accepted more than a flat $200 price for some people.  Of course, people like me see it for what it is...someone trying to get as close to 200 as possible without actually asking it.

The marketing folks do it all the time from what I read in that article in a doctor's waiting room.

In my opinion though, it doesn't look right for selling or renting real estate.  I believe it's best used in retail.  I want $2200 for my rent, not 2197.37!