All Forum Posts by: Tom La Rosa

Im thinking of investing out of state, but I wonder if there are good opportunities in my state ?

Thanks everyone, I dont want to get too into the story. 

But, while we were in escrow, some green spay paint appeared on the ground marking a location. Seller tells me it was from the gas co. OK

2 days in to moving in, toilet backs up and overflows, plumber comes, snakes tree roots out, says home warranty wont cover it because its an existing problem. Plumber recommends videoing the sewer line. Drains work OK at the moment.

In CA, sewer line inspection is not part of a normal home inspection, though it should be, and I will make them part of my routine in the future.

It took me a while to do my video inspection due to prepping a rental property (my first house ), moving,  prepping the new house, working overtime , plumbers flaking out, etc.

When I finally get my inspection, it turns out the green spray paint marks the exact location of the sewer line break.

My agent knew what was going on from the beginning, knew I was suspicious, is now trying to negotiate with the sellers agent and seller. The seller still denies everything.

I wrote pretty much my last letter, making my case, and because of the new year weekend, dont expect a response until next week.

So, thats what this post is about, what do I do now ?

@Joel Owens, @Account Closed, @Dustin Kircher,

@MJ Barnett,@Scott Carder

Thanks for taking the time to write.

To make a long story short . . . .

I bought a house 2 months ago, I just had the sewer line video scoped. There is a break in it, with tree roots inside.

It has become apparent the previous owner knew about it and did not disclose it and is now lying about it. 

Without getting into the drama, I can prove they knew about it.

My Real Estate Agent contacted theirs and the previous owner may not co-operate.

Is this a small claims court issue, a real estate lawyer issue ? What would be my next step ?

I have 2 houses now. 

Moved into a new home, rented out the old one.

@JD Martin

@Joshua D.

Loans closed in October of this year. And yes, I want to refinance the investment property.

Thanks

In October, I did a cash out refi on my home to by a new home.

The cash out interest rate is over 4%, I want to refi ASAP.

How long do I have to wait to refi my cash out refi ?

TL

Hi, so my cousin ended up short selling his underwater house. 

He was already in another house that he plans on staying in for a long time, so he did not care about a bad credit score for a while.

Sorry, I cant remember how to do the "@" thing

@Elizabeth Colegrove

@Josh Dotzler, thanks for the link

Thanks guys. 

We are thinking of buying a house together, big enough that we can live together and have enough space. Or maybe a multi family . . . . .?

I havent heard of anyone co-signing with a VA loan. So im wondering whats possible.

Thanks again

My dad is a retired Veteran. He has pre qualified for a VA Loan, but Im sure he cant do much on his own.

I want to know if I get a conventional loan; can we team up to increase our buying power ?

Hi

@Mike H.

Very good. I would love to see it.

Being a 14 year construction guy, I have never used excel. In my REI journey, Ive got a couple of excel files and opened them up, but havent really used them.

TL

@Kevin Tran

@Walt Payne, @Brant Richardson 

Thanks for your time. Especially Kevin !

The house is rented, at about break even. The kicker is the ARM adjusting up next year and possibly driving the mortgage payment sky high.

So really the ARM will really make this situation worse. This is my family members 2nd house and I wonder why they just cant refinance the ARM. . .?

I need to contact them to get some answers.

Thanks guys.