All Forum Posts by: Nate Mao

The main problem is the  city's strict rental law

Thanks for the comments. The property have good margin and potential even to sell it right away at today's price with remodel being done.  However the tenants are inside making it hard to do work.  If it's a vacant property I would not even think twice to purchase it.  It's strict rent control area with strict law favors tenants made me thinking twice.

buy and flip after few years with potential appreciation is the plan, I see a good value once it's fixed up even at today's value. but problem with fixing up the property with the tenant inside with local strict tenant law in place. 

Buying a investment property single family home with tenant in rent control city.

purchase price $290k, rent $1300 per month.  The property needs repairs such as roof replacement, window replacement and so on.   The location of the property has very good potential for appreciation. Buy or wait for other opportunity?

it worries me when my realtor freind checked the mailing address is different from this home address, it might be a renter inside.

actually it's Bank Of America's home.

it looks like a Fannie Mae home, my agent told me the REO agent have the knowledge that is the owner inside, and he try to rent back the home or something.

I have never seen the property inside, but it's a pretty new construction, and have been told that the bank didn't want to evict the owner and want to sale with the owner living inside. is there any legal issues if I buy the property?

it is for rental.

I am just wishing if there's any policy to cover law suits from the buyer after teh sale?

What is the main difference? My insurance agent told me they are different and they have they those policy in place.

My question is if I bought a Construction policy? does it mean i have to build a new construction or remodeling/rehab is OK? Also if the construction begins in 2 weeks away, would the policy cover any damages happened before the construction starts? after the construction, and when I list the property on the market for sale, do I need to change the policy back to vacant policy?