All Forum Posts by: Michelle B.

Casandra Molitor I would not invest in a fence. I have a couple properties (SFR) that had fences when I bought them. My multi (duplex) does not. I wouldn't add one. I do allow small dogs. I have never even had a potential tenant ask if there is a fence. I think a lot of renters are accustomed to not having one. My duplex tenants have been with us a long time. One side has been there for 5+ years and the other has been there 3+ years. I don't think you will get the return for it (increased rent or longer stays). Use those funds to buy another property. That's my vote, I'm with your hubby on this one. Good luck! Michelle b

Corey Young I have replaced EVERY roof on my rentals and my primary residence with insurance claims. Nearly every contractor in my area will do the work for whatever the insurance gives you and waives the deductible. I didn't pay a dime to replace any of my roofs. Good luck! Michelle

Grant Wieczorek There are cases where rent can/will be higher if renting to S8 (although that is not the way it's supposed to work). For example, in my specific county - S8 will pay a maximum of $XX for a 3 bedroom unit. For the sake of ease, let's say that max is $1000. In my specific city within the county, there is limited availability for 3 bedrooms that are S8 approved. On the open market that unit may typically bring in $800 a month. However, because of the strong demand (and limited supply) in the S8 market, I could easily get the full $1000 a month from a S8 tenant. However, landlords are not supposed to charge more for S8 than they would for non S8. You are suppose to charge FMV.... Good luck! Michelle

Ryan Guthrie Whatever you decide to use - just make sure you run an eviction check as well. Some services offer it as part of a package and others do not...

IMO - this is all being blown out of proportion. As someone else said - this is 2017 - who still gets paper statements? I certainly don't and haven't in a very long time. Also - did someone say they were still living in the property? I might have missed it but didn't see where the OP indicated anyone was still in the property. Again - if something happened to myself - my parents would have no idea about any of my finances, including my mortgage. Nor would they have keys to my house. And I am close with my parents - talk to them nearly every day. This doesn't seem strange to me at all. Just stop by the county office and figure out who (if anyone) is the lien holder and go from there.

Jessica Zolotorofe He said unable to talk not won't talk. If I became medically incapacitated today, my parents would have no idea who my mortgage company was or what my balance was. This doesn't sound strange to me at all. Troy Durrette I'm surprised you couldn't find it online. I don't know much about areas outside of my own county. But, within my county, I can do a property search, locate the property and then access the recorded data. It literally takes me a few seconds to find. You could call the county office on Monday and inquire. You could also just stop by and chat with someone. Do you have a relationship with a title company? My title company would probably do this work for free for me.

Troy Durrette Did you look at the county recorders website? In the areas I invest in I can see any and all mortgages / liens recorded on a property from the comfort of my couch. If the mortgage is old, you would have to guesstimate the remaining balance. However, in your case, at least you would be able to find who the mortgage company is and have your seller contact them for details. You could probably pay a title company to do the work and find out as well. But that seems like a waste of money to me. Everything is public record. Good luck! Michelle

Ryan Keenan I had a similar situation a few years ago. All I had to do was write a letter explaining why I wanted to occupy the new home. Nicer yard, more square footage, basement, etc. That seemed to do the trick. Good luck!

Ryan Keenan You can obtain FHA financing when you already have existing mortgages. That's not an issue. You just can't have more than 1 active FHA loan at a time. Sounds to me, however, that you are trying to purchase as owner occupant without the intent of actually occupying. That would be mortgage fraud.

Michael Brown I agree with most of the other comments thus far. Especially that it's highly unlikely that your low offer will be accepted. I also noticed that it's a short sale. Which, if you aren't familiar with, will likely take forever to close. Which isn't a big deal if you aren't in a hurry.... Having said all that, I disagree with those that suggest you should do something easy for your first project. I just completed my first flip and nearly everything had to be replaced/repaired (HVAC, roof, full electrical, all plumbing, windows, etc etc etc). Now, although this was my first flip, I did have renovation experience as I have been in the renal business for years. However, in the past, we had done almost all the work ourselves and had little experience dealing with contractors. Now, I'm not saying that you should go into any endeavor unprepared. Make sure you have adequately estimated repairs, comps, etc etc etc. But, I don't think you should limit yourself just because it's your first project. Lastly, my personal recommendation is not to use contingencies (including inspection). You are likely going to be competing with all cash, no contingency offers. You should be comfortable enough with your estimates that you don't need an inspection. And if you aren't, then you need to get there. Good luck! Michelle