All Forum Posts by: Carlos Enriquez

"The pine needles  fall on my classic car and scratch the paint, so you need to trim the sides of the trees all the way to the top to get rid of the overhang."

The trees are very old and are many stories high!

It's in the ballpark, but I would get at least two more bids.  I use yelp for service companies and not only shop for price, but 5 star reviews.

I would direct escrow to delay closing until that is settled.  Escrow should have known to take that rent amount from the seller settlement.  Someone was hiding something.  Good thing you found out!

If you don't delay closing, then it'll be up to you to start the eviction process, and that will take a long time and money.  Let the seller handle it before you own it!

I'm not sure about the VA rent seasoning, but are you planning on living in one of the units? I tried to get a VA loan on a duplex rental property but was told that it had to be owner occupied to be considered, same with FHA, so I had to go conventional. The seasoning time involved with a conventional is 2 months if I wanted another loan to include future rents from that duplex, but it also has to cash flow well enough to justify the added debt. I've read that VA pretty much follows conventional rules, although I keep hearing different lenders using their own protocols.

It would be such a coincidence if that guy's car caught fire "accidentally" of course, from a faulty carburetor on a hot engine.

Glad you have insurance!

I don't think it really matters if someone paid too much for a property and is trying to cash flow it, or they own it free and clear, it's the principle of the matter if an owner thinks they're getting taken by a contracted entity.

Now this may not be the case, but it's wise to check on it and come to your own conclusion. 

But wouldn't "borrowed" mean that you have to pay it back?  I would not consider a gift as borrowed.

When I bought my duplex, my lender knew I wanted more money for a down payment, and asked me if any of my family could gift me the funds.  At the time they could not.

You could tell them that the basement is a separate unit in and of itself and is not included in their current lease, but if they want the space, you will have to sign a different month to month arrangement for it (to coincide with their lease expiration date), and that it will be extra rental.  They can move their stuff to storage if they choose, so that you can have access to it asap.  I think that if there is no language in the lease about using the basement, then they are squatting their stuff there and you have the right to clean it out.

If your gut tells you that they will give you a problem, then let the lease run out and change things afterwards.  Sometime avoiding headaches is ok if you're patient.

There was a good point about not adding the charges to the rent, because renters look for the rent amount when searching for a good rental, and adding more to it may deter good renters.  The utility companies told me that they provide duplicate billing for trash and water/sewer.  They send the original to "tenant" or "resident" at the property address.  My lease will stipulate that they pay all utilities, or the charges will be taken from their rent payment first, in which case they will be late with rent and will be asked to pay or quit.  I will not take partial rent payments after utilities are deducted from them.

If I get good tenants, I don't foresee any problems.  It's this one inherited tenant that is delinquent for all utilities and is giving me trouble.

After I purchased my duplex, my insurance company sent an agent to evaluate the replacement cost of the property.  I had to go with what they determined.  He said it all depends on the risk of location and the materials used to build.  I'm in a no flood zone, no earthquake, and materials are usual construction type, not gold leaf and marble et cetera.

So yes, it depends.  I'm paying $1429 per year.