All Forum Posts by: Marco G.

@Mike Dymski

Would love to know what you believe are the “gateway crimes” leading up a manslaughter...you can be charged with manslaughter for getting in a car accident and someone dies, or if you’re a doctor and prescribe too much medication, and on and on. Everyone always assumes the worst...

@Riley Way

Keep it. Use it as a piggy bank when the time comes. $5k reserve is great. It's a condo so you need less, and if the HOA is well managed there are reserves there for systems that the HOA covers (I'm thinking roof and other external aspects of the property).

@Kathleen Sedita

Try some credit unions, you might find 5% down plus PMI that is cheaper than the FHA 3.5% down plus FHA PMI.

@Jeff Williams

We do you think the inheritance will be taxed? Federal must exceed $11.58M, NY state must exceed $5.25M before taxes kick in (from my quick Google). Only the amount over those exemptions is taxed. If you’re coming into that type of money this is not the best place to be asking for advice.

@Dree Hayden

Refinancing is the only way to reduce your monthly debt service obligation short of paying it off (which you probably don’t want to do). Keep in mind depending on the term you choose you could be starting all over again and they may not be in your best interest.

How long have you had the property, what is your rate, and do you have PMI? What is the value? Can you refi?

@Lola Ajilore

Is it a 4bd 4ba as the headline states, or 4bd 2.5 ba as the details state (2+1 and 2+1.5)? The walk through garage comment is hard to understand as well.

The photos looks nice, I’m guessing that’s the vacant unit. What does the occupied unit look like? Has the tenant been paying?

The moratoriums are probably making people anxious.

@Lloyd Son

You don’t need insurance until you do. So long as you have set aside what you need for everything predictable, and nothing unpredictable happens, you’re going to be fine. I think Nostradamus said that.

@Will Parker

Call your agent or independent insurer and get quotes. You want to make sure you can get insurance. While that’s not a fail safe, it gives you an idea.

Not a fail safe because insurer can cancel the policy after issuing if if they discover upon their inspection that there is an issue.

For example, this happened to me because of the presence of skylights and this particular insurer wouldn’t insure properties in that area that had skylights.

@Charles Giovanniello

No reason to delay switching PM. Get looking now. You’re delaying the inevitable. If you decide now on a new PM it’s probably January before they can take over anyway assuming you have to give notice to current PM.

@Jesse Watts

What you’re doing here makes no sense unless you’re just running this as a hypothetical to hone your math skills.