All Forum Posts by: Bob B.

Looks Great

Sounds like you have a god deal and congratulations on the lease.

Are you living in the property?

Why are you holding it until June? That's 2 1/2 months of lost revenue?

Looks great.

You buy the property and you have to live with the existing leases in place.

Look at the leases and verify the rents are current.

See if you can talk with the tenants to see what problems they have with their unit and what their plans are.

Maybe you have it priced too cheap. Buyers are thinking it's not worth their time.

Raise the price and see what you get.

You can always take less..

Is there a 3 day "right of rescission" when placing a lien on a personal residence when the loan is for business reasons?

2009 Was a long time age.  Was he upfront about the problem or did you find out when you

checked his credit?

Many good people lost their homes in 2009 and can be good tenants.

If he was upfront and everything else is ok I would not hold it against him.

I am in Roswell and might be able to help you.

I'll call you in a few minutes.

I will not buy a house older than me.  LOL

I will not buy a home that the original footprint has been altered or has asbestos siding or where there is more than one of two yard dogs nearby.

I can fix a house but not a neighborhood.

I love polybutylene, musty, leaking roofs, trees growing in the gutters, cracked foundations,

shag carpet, stolen AC's, ripped out electrical and plumbing.

Sounds like a nice home. If you sell it will you be able to get another VA loan?

If it's empty one month you loose a whole year of positive cash flow.  

Who will manage it and at what cost?

A $400k home requires much more upkeep than a normal rental.

IMHO it will be a looser and you need to sell it and get on with your new life.

Thank you for your service and good luck,