All Forum Posts by: Justin Owens

What line on your tax return counts towards your income eligibility for USDA loans?

I always try to look at least a year back. This will also help inform you if the area in general is decreasing in value. Even look at the comps from 2 years ago, because you might not want to buy in what is considered the peak of the neighborhood's value.

I also look back at the history of the property you are looking at if you can find the info. Was it sold for way less just a couple of years ago?  Did the last buyer end up buying it at the height of the market? I think this will give you clue as to how you offer would be received.   

I could certainly see where the listing agent would not want to grant you any further access to a property outside of your initial inspection. They do not represent you interests. What if your GC that you brought in a few days after the inspection noticed something terrible with the property that your inspector did not? That would be a very risky situation for the seller as you might still be able to back out.

I think people expect to see a tub and a shower, but expectations do not equal what  people go gaga over. Its 2 different concepts. If I walk into any full bath room I expect to see a tub and a shower. I don't expect to see a large high end shower that no other house has and makes me say I could easily do without a bath tub in my Master because I have this awesome shower. 

Are there any pockets in Lawrence Township that you all would not buy in?

@Rodney Kuhl  Please post the details of your deal in Emerson Heights when you get a chance!

Just asking for your general opinions. 

Here in Indianapolis there are large pockets that have Private Wells and Septic tanks.

My own home included on is on Septic tank, but we have city water. I've never really had a problem with my septic tank.

Would you buy a rental property that had a private Well or Septic tank? 

@Amanda Hoening 

Congrats to you!  May I ask, were you given the option of a longer loan term than 10 years? 

So just to update you all. I did inquire to the listing realtor about getting a showing so I could get my handyman out there to look at it with me. Apparently last week the property was put under contract and now they are only taking back up offers. So it looks like I was just a bit too late on this one, not really sure If its worth the time to get in line. I did spend some time in the neighborhood though and its quite nice. So it will definitely be one of my target areas going forward. 

Will be interesting to see if this one will pop back up in a few months totally rehabbed.

Thank you all for your responses, really helped me confirm somethings about that neighborhood and general area.  The learning continues...

The short sale is probably your best option. 

Another alternative idea is to turn your condo into a home business for a couple of years and run a day care center out of it. The cost of child care is so expensive, there might be other families in your area that want a close by day care. Just trying to get creative....

Do you use a web based application?  A PDF they can email to you? Or do you just tell them to send it back to you in the mail?