All Forum Posts by: Marian Smith

Forgot to say thanks in advance.

@EricBowlin  Hi Eric, I hope you don't mind if I go off topic, but you seem a good person yo ask.  In places like Somerville MA, were most all the triple deckers built like that --multifamily--originally, almost 100 years ago?  And does MA require landlords to insulate the old places to a certain standard before renting out--rip out walls and add 19R?  My curiosity was piqued when you said prices for triple deckers had doubled in a couple of years in Worcester from as low as 150k ...I had always assumed Somerville prices were so high partially because it was so expensive to build in MA with basements and no immigrant workers like Texas has.  I guess it is all location !

It is very easy for a realtor to print out a list of solds in the neighborhood.  If you are not working with a realtor, call either the listing realtor or the listing agent for another house in the neighborhood and ask if they will email you a list of all recent of solds with sq footage and the short sales description.  They will often be happy to do it so you will hopefully use them when you buy.  You can also ask what the average % off list houses are going for and once a property is pending assume it will go for say 97% of list--this would be very ballpark.

Nicki, I have two 1978-82 homes about 1200-1300 sq ft and they rent very well and the homes around have always sold well.  Any home in a developer type neighborhood will almost always sell or it wouldn't have been built in the first place.  Sorry you missed out on that deal, but no worries because if we have protracted lower oil prices the Houston market  you may present some even better opportunities.

Jake, my daughter stayed in Kingwood last summer and it was quite nice...the largest masterplanned community in Houston.  And supposedly off a lesser crowded freeway.  She interned at a Seimens which was in a high rise office area near the airport and near Kingwood.  I think if I were going to invest in Houston I would consider there.  When my daughter told a Houston student where she had rented an apartment, he said she had picked the safest place in Houston.  (which was our hope/intent) Also be wary of Greenpoint, because it's nickname is gunpoint...and that is absolutely everything I know about Houston.  

Sounds like your mom is living there....how about a home equity loan or HELOC to buy out the other party and then you guys work a deal from there. If the house is in rough shape and they sell, it will likely have to go to an investor...so someone needs to get it in retail shape.-- you guys or the buyer.

Should you help your mom get it in shape to sell or buy it yourself for a rental?  

buying pros: leverage, possibility of owner finance, get discount because no realtor and flexible,  & possibly do the exterior repairs etc while your mom lives there (no holding costs).

your question on clouded judgement might be cleared by 1 Is the location good enough to attract quality renters when the cycle turns and 2 do I have time and is this how I want to spend time? 

Steve Crossland is another name...been in the business for a couple of decades.  You can get a feel for his style by reading his proprty mgmt blog.

I think you know your choices.

Sell condo and risk not finding a place.

Buy and risk not selling condo fast or top dollar...often it is either or even in hot markets.

Wait and interst rates climb and market softens or not, who knows, but you will lock in at 30 years at a higher payment if rates go up and prices do not react downward.

Kind of depends on condo....2-2, close in and near bus, low fees, ability to rent unit if desired...if all of above you are probably good either way.  

Thanks for the reply.  I just recommended another poster try it to seal in pet odor (before resorting to tearing out ceramic tile) and then felt bad because I had no long term experience....Other than knowing it is a Custom product has been available for decades, but that doesn't always mean much.

Very pleased with the improvement after painting the grout lines in a rental bathroom.  Product says it is epoxy and a sealer so I have high hopes for it rendering the grout lines easier to keep clean.  They certainly look cleaner one painted.  Anybody use this product before?  Aquamix from Home Depot., been on their shelves forever.

Really like the black, classic and elegant.  nice razor thin grout lines.  And black is black...beiges tend to go in and out of favor, pinkish 80's, golden Tuscan, greige grey briege 2010's.  if the grout lines get dis colored you can even them out with epoxy grout colorant and never have to worry about it again.