All Forum Posts by: George C.

Welcome Justin,

My Father was USAF stationed in HI in the early 60's with my Mom & older Brother before I was born. They loved it there.

Justin & Joe Sillaman Thanks for your service.

I would add a "master bath", most people won't want to run downstairs to use the bathroom.

I've done this same scenario a few times, added a bathroom to a second floor bedroom to make it a "master suite". Without it, it's just a 3rd bedroom, not a master as what people have come to expect when they hear "Master BR".

The downside about these houses with a master on a different floor than the other two bedrooms is that people with younger kids wont want to be on a different floor than them, it hurts us for rental, as well selling the home later on. Not on price, but the amount of lookers that are ok with that or want that situation. People with older kids / teens like that kind of BR layout. ** When I advertise these homes for rent, I always explain that the master is on the second & the other BR's are on the first, nothing worst than wasting time to show the home to people who will never want it at any price because of the layout of the BR's.

Sounds like a no brainer for the Trustee, good luck.

If the building is habitable / full, the pay off for them shouldn't matter to them weather cash or financed, they still get paid in the end, especially if your a strong buyer with a commitment / letter of credit to get them to say yes faster than usual. Did you submit the offer already? How close to asking did you make it?

While Ginger & Chris are both right to a degree that modulars often use 3/4" OSB for the floor, but so do most stick built homes. It's used to save money for sure, but it is a good item, even plywood will delaminate & mold from an ongoing leak. Modulars have their floor systems glued, always... These homes are being built knowing that they will be running down the highways over bumps / rough roads at 60-70 mph, they build them to handle that, they are built using on average 20% more lumber than a site built home... just saying. Yes, site built homes should have glued down sub floors, too, but often don't because no one is there to check & they know the house will never fly down the road & have to be picked up by a crane, etc...

As far as your repair, find & fix the leak, cut out the bad spot & replace. You will have a harder time pulling out the bad section of floor due to the glue, just makes for a little extra effort.

Alex, somewhere in the mix of the other big companies is a licensed individual, maybe one is all they need per state to satify the law.

One of my better buys was off a NJ BK trustee sale, it was a vacant lot that started at about $99K, dropped to $69K by the time I low ball offered $19K and they accepted. I then was able to drag my feet with them over the closing by blowing smoke telling them that I was still waiting for approvals so they would offer an extension, they didn't care because it wasn't personal to them, they just ran it past a judge who just rubber stamped everything put in front of him. You might have a better deal than you think in this kind of situation, I did...

There are companies the do buy in bulk, like 100 at a time from the banks. Econohomes is one of them. I bought one of my homes from them almost two years ago. I've seen the purchase contract from Ocwen that listed my home as one of a hundred all over the country that they bought in one shot. They have a website to sell their homes and offer a finders fee (like around $500) to agents. It's not a dream, their are people who do it, but that is real big time. I was too late in buying my REO, it was all of the sudden off the market, it was at $39K, then it came back for sale under Econo at $24K. I found out Econo paid $12K for mine & I paid them $21K, so they made nice money on that not doing a blessed thing. Some of their homes are dogs and they get stuck with them, so it's not all roses.

Rick & Jon, The family (kids in their 70's) in this case are invalids themselves, due to dementia and such. The Grandparents moved across country to retire in warm weather years ago, thus putting themselves in the situation of being on their own. This is the kind of thing that happens when people move away from loved ones / family.

No, I can imagine G/F wasn't happy in his late in life wife, or at least wouldn't be if he knew what she had done. She didn't physically care for him, she never lived with him as a wife, she just cleaned him out & made sure to transfer the properties before he died so there would be no need to probate any wills that might be out there because the estate is down to 0.

Is your water services is lien-able to the property? Meaning, if you are able to get it into the tenants name and they stop paying it, and you find out six months later when it get's shut off and the tenants leave you, are you stuck with the bills as the owner? Most water service is like that, especially municipal water service. If that's the case, your better off keeping it the way it is.

I have one where I pay the bill and just raised the rent to cover a little above normal use, with a statement in the lease that they are responsible for any overages, and that it will be applied to the next months rent.