All Forum Posts by: Michael Rice

This is something I would get with a Realtor to determine. There wont be some formula you can use because every neighborhood is going to be different.

@Cody Hyman depending on what work your neighbor did he may not have needed a permit. Changing the cabinets isnt a job that requires a permit or any kind of inspection. Im not 100% sure on the jacuzzi removal but Im pretty sure wouldnt require a permit either. You can check permit stuff out at the city website: http://www.sanantonio.gov/DSD/Online/Search

@Juan Mendoza You need to disclose that. Im pretty sure option 3 is illegal here in Texas because on your sellers disclosure, page 3 item #6 you would have to lie on the form..."Are you (Seller) aware of any of the following? Write Yes (Y) if you are aware, write No (N) if you are not aware. Room additions, structural modifications, or other alterations or repairs made without necessary permits or not in compliance with building codes in effect at that time"You might not be able to charge extra money for the addition but you should just chalk that up to lessons learned. Your step-father should have known better if he really is an experienced contractor. I have seen many properties here in SAT that had closed in garage done with out permit and they disclose them in the sellers disclosure then when it comes time to rent them people often list that as "bonus room" or "extra living room" things like that. Its not on the tax roll as extra space and they dont get to include it in the square footage when its being sold or rented out but people can decide for themselves if its worth extra..

#1 yes. The protest is done online and you should be able to upload those docs for review. Also include photos and anything else you think will help drive home your point. It will be hard for them to argue with you about the value considering you paid less than they say its worth. That doesnt mean they have to lower it though.

#2 Pictures of it showing how dated it is or work it needs to make it worth what you think its worth rather than what they think its worth. Another strategy is to use a professional service to go to bat for you. Here in San Antonio you might try Ball Property Tax Services. I think they only charge you based on how much they save you.

@Travis Buck I have not personally worked with Helen and her team, but I am currently working with Rich so he is likely the only one who would recognize my name. He is a member here @askmortgagepros is his name.

You can cash out refi a property that you own clean and clear, and you can cash out refi a property that you still owe money on. You would want to talk to a lender to find out what options they have available to you. Typically on a cash out refi for a non primary residence there are requirements like leaving at least 20-25% equity in it. Depending on the number of properties you have mortgages on you may have some issues doing this because many lenders require you to have 3 months of payments in liquid assets for properties 1-4 and once you move to 5-10 you need to bump from 3 months per property to 6 months per property. Be sure to talk with investor friendly lenders for best results. I highly recommend Rich Nunez over at AMP lending and also Helen Bernatek and her team with Guild Mortgage.

Good luck!