All Forum Posts by: Linda M.

I have a contract I have submitted to my agent for a property for sale, the offer was sent Feb 16th, it is now Feb 23rd and I still have no response from the seller's agent , my question is , does the clause Time is of the essence, still have meaning in real estate anymore? What would be the appropriate number of days to wait for a response?

Thanks Mike ,When you mentioned an electric furnace and Alaska at the same time It shocked me,simply because I have been having such a problem with the electric furnace in my condo. The condo is small, not over a 1000sf with a north facing wall, that electric furnace is not able to keep the place warm ,so you or your tenants don't have a problem with the electric furnace?. One time a tenant said they paid 500 dollars for one month,and did not resign the lease for another year, so far I have had 3 tenants move because of the cost of the electric heat and not being hot enough,

I have noticed that a lot of rental units have furnace and hot water heaters in  the unit where the tenant pays all utilities,is this because it is cheaper in the long run to add the furnace and hot water heaters during the rehab and /or easier to just let the tenant pay everything.The property I am looking at does not have anything in it as far as heating but maybe the other owner was starting to run pipes for baseboard heating.I want to buy a 4 unit with a possible unit in basement so my question is, what choice should I make for the heating,which one is cheaper,more convenient for both  myself and the tenant.I do have a choice but don't know which route to take, or what are the questions to ask myself to make the proper choice.

Now that you mention it Matt, I  had an electrician do some work on the circuit box and he said that a few of the circuits were overloaded, that was in about 2012, but I didn't think to make that connection with the heat element and the electric circuit breaker,he did add some circuits to eased the load on some of the circuits. I have made an appointment with a heating and cooling company ...(Four Seasons ) for Monday and I will let them know of this while they are making their assessment. Thanks

• I need a few answers about an electric furnace. The electric furnace is not adequately heating a condo unit of less than 1000sf. I have had people look at the furnace to see why it does not blow hot air thru the vents ,it had been suggested that since the intake air vent is also located in the ceiling with the vents is the cause but no suggestion how to remedy that,I was also given the suggestion to insulate the space between the ceiling and the second floor unit,this is a condo complex,I did that but it has not proved to change the outcome of the production of heat,I have to say that the unit is on the first floor also has a very big three window side that is north facing and no building on that north side to block any of the cold north winds ,this is an old building converted to condos in the early 1990's ,I come to find that there is no insulation in the walls at all, so I know that is not helping hold any heat in the unit.I have installed ceiling fans on the suggestion of another person saying that would help..Okay the point is there is an element that is not working ,unplugged,not getting hot ,or whatever the case may be,the last person who worked on the furnace said that the blower motor was tripping the circuit so since he could not find a blower motor and ordering it would take 3 days so he used a condenser motor saying that it would be ok, but the tenant say the blower stays on longer and still does not produce much heat ,at my wits end and need to know exactly how to handle this heating problem without tearing down walls .I have went to home depot's service desk to get someone who is able to get me the right answer to this problem, I have an appointment on Monday can someone tell me what it takes to replace and element in an electric furnace,is it hard ,is it simple is it expensive will it help,can the condenser motor stay or should the motor blower be returned,is there anything I can read up on for more knowledge before Monday..Questions Questions Questions.... PLEASE HELP  sorry about the long post

Hey Rob, After exploring other post I came across the NACA a company of private lenders ,they do 75% LTV but they have minimum on one of their loans at 30,000, I'm gonna apply with this lending agency hopefully that will help get me to my goal, THANKS

I am dealing with an electric furnace now , it is not a good idea for cold winters, the tenant will be paying 200,300 plus dollars for heat ,every year you will be looking for a new tenant because they can't afford the rent and the heat bill, You have to insulate the pipes the walls the windows the doors the floors,everything to make sure no heat escape, I would have gas but the developer of the condo project installed all electric in the complex i guess because it was cheaper than installing gas. So if it gets really cold where you are ,go with gas.

purchase a fourplex

I post in an earlier article on newbies not making a deal and sitting on the fence and not moving forward,I have not purchased a property since 2010 and the purchase was based on a situation where there was an emotional need,I needed space for a growing family. I have always wanted to own real estate and I now have two properties ,now my desire is to own a 4 unit rental and have been a looky-loo on all the real estate for sale websites.I get nervous when it comes to financing ,number one is the 20-25% down payment, is it always the rule to put down 20-25% on an investment or are there places to go that don't require so much and  won't require me to move into the property? Another thing is with all the talk about deregulation will this cause the financial institutions to be a little more relaxed. 2017 will be the year for the purchase of a 4unit building and now that I have written it down I will come back and let everyone know if I followed through and post again under the success diaries, Thanks in advance for reading and any advice you have to offer

Hey George , Thanks for the response it makes things easier when there is some one who get what I'm talking about.                           You are right Drew eventually I am going to find an agent , loan officer, and handyman , so that I can develop a team of people to accomplish my goal,and I only have one goal and that is to purchase a 4unit property before I retire within a year or two, Thanks guys for your response..