All Forum Posts by: Kim Lutes

Christian,

I am a real estate investor, Real Estate Solutions Inc. of Harrisburg, and also own a tax and planning firm, Lutes Financial Group.  Please give me a call or email me and let me know how I can help.

Kim Lutes

(717) 220-3435

[email protected]

Does anyone have any experience with this company and Ken Vesely, the managing partner? I was a little surprised at him this morning. They are charging 20% interest and 13 points and he was a little rude when I suggested that was high. I had asked for a closing date in two weeks. Is this usual?

Hi Dave,

I am an investor in the Harrisburg area, also. Welcome and let me know if you have any questions!

Kim

Welcome, Phil! I am also in Harrisburg. Let me know if there is anything I can do to help!

Thanks for the feedback everyone!

I have been a rehabber and am now venturing down the path of rentals. I have a prospective tenant who credit and background checks ok, but she had a dispute with her previous landlord and withheld rent. Her apartment was burglarized and the police determined it was someone who had keys. The landlord was not cooperative with the investigation so she withheld rent. Would you rent to her or would you pass?

Thanks for your help!

Kim

Welcome, Andrew. I am also in Harrisburg PA - let me know if there is anything I can help you with.

Chris,

I am an active investor in the Harrisburg, PA market. The biggest difference in PA is the transfer tax: 2% normally split between buyer and seller. However, with some HUD homes and REO's, you would pay the full 2% when purchasing.

Hope this helps!

Kim

PA has a 2% transfer tax which is normally split between buyer and seller. With HUD homes and some REO's the buyer pays the full 2%. This can get to be quite significant!

I am trying to sell my first flip and am having a heck of a time. I have had three contracts fall through and don't know what the problem is. Just bad luck or something I am doing wrong? Here are the details:

Contract One: House sold within a week at $167,000. Asking $172,500. They were first time homebuyers coming from an apartment. The inspection found some minor problems which were also fixable. One of the minor notes said there was a small bit of possible mold in the crawlspace. They bailed because of this. I fixed all the minor items and had someone look at crawl space - no mold.

Contract Two: On the market a week and a half. Also a FTHB. Inspection and everything all went well. Three days before closing found out her loan would not be approved due to not being able to verify income.
Sold price was $167,500.

Contract Three: Sold within two weeks at $167,000. Inspection and appraisal went well. This time I got a nonrefundable security deposit of $1,500. No major or
Minor items in the inspection. This inspector said the roof will last another 3-5 years. Now they want a new roof or they will walk away.

Thanks for your comments and insights!

_Kim
Real Estate Solutions of Harrisburg, Inc.
[email protected]