All Forum Posts by: Ivan Mendoza

@Jeremy VanDelinder

Hello Jeremy,

Wow thank you so much for all that information. This was the first inspection and haven’t gone over the report with my agent yet. Those were all good question to pose to my agent tonight when we speak.

The picture sent to me show reinforcement installed. Photos show burnt roof beams and cross beams reinforced and new plywood put over.

The inspector noted “Urge further review and repair from a qualified contractor”.

Unable to upload photos with my phone. I’ll see if I can with PC.

Property is in Syracuse

Hello BP community,

Had my first home inspection performed on a multi-unit property that I want to purchase. The home is located in CNY, was built in 1915 and has layered rocks as foundation. The property has 2 unites, around 1,600 sq ft and is going for $65k

Apparently the roof is less then 7 years old but upon inspection it was discovered the roof has fire damage. The roof was repaired but the chard/burnt framing was left and built over with plywood. The home inspection does not highlight this as red or critical which is surprising to me.

How should I move forward with this? Is this a big red flag? How should I proceed with negotiations?

I’m looking to invest in Syracuse and I came across a tax called Village Tax and School Tax. Are these separate from Property Tax or are these taxes included in Property Tax?

Thank you.

Thank you @Frank Procopio.  

Hello BP!

I'm looking to invest in Syracuse NY with the BRRRR strategy however I see that vacancy rates are around 7%. I can't seem to find a chart that states if that's good or bad. Is vacancy rate dependent to location and city? Is there a rage that can help?

Thanks you for all your help and advice.

Ivan

Hello everyone,

I’m looking to bid on a property in Auction.com. The property has a 70 year old tenant that I don’t know anything about. Is that too much risk since I don’t know if they tenant is trustworthy? Will I be taking on someone else headache?

The property is in NY.

@Pete Barrow

He seems legit since they’ve wholesaled several houses on their website.

I tried getting the actual owners info threw reverse directory but nothing came up.

@Pete Barrow @Kyle J. 

Thank you for you reply.  Both your responses make sense.  Seems to me the house was under contract for a limited time and need to be sold during that time and did not mean certain repairs needed to be performed.  Unfortunately the date on the contract was Oct 31 and wholesaler hasn't returned my call to provide more info about property. 
 

Hello BP Forum , 

I'm looking to purchase a wholesale duplex in NY.  One of the terms states "Quick Closing * – Buyer must be willing and able to execute assignment contract by set date" 

Not sure what this term is stating with "execute assigned contract" . Is it stating that home has specific repairs or stipulations that need to be performed in order to obtain home? Or is it just stating contract will be assigned to buyer? 

Thank you for you help! 

Ivan 

@Nicole Cutlip

Thanks for those detail Nicole.

I’m glad these deals are working out for you.

You did your own rehab? That must have save you tons!