All Forum Posts by: Nicole Warne-McGraw

I have a high end duplex on the rental market in a beach community. There has been no-one showing up for open houses. But then again, it is March, which is a really off-season time to have a lease opening. So, not sure the two are connected or not yet. I'm taking the time to research short term rental usage for the property. Always good to have multiple strategies.

@Jennifer Pauyo Hey from So Cal!

@Shonari Wynter, yes. My earnest money should be returned back to me soon as specified in our offer contract with inspection contingency.

For the first time, I backed out of a property for which I was under contract. After the inspection, I ran my numbers based on anticipated repairs and maintenance; plus actuals from the loan app that just made it through underwriting. And the numbers simply did not work.

I realized that I was trying to make it work because I "like the house." But that is not how an investor makes decisions.

So, I utilized this Buyer's Response provision for the first time:

• "Buyer’s inspection of the Property is disapproved and the Agreement is terminated. The Earnest Money shall be refunded to Buyer."

Pretty darn proud of myself for making the wise investor choice. Figured lots of you would understand.

@Adam Serdula

Enroll in some hands on practical rehab skills courses at a community college. If I had it to do over again, I’d want trade skills like electrical or plumbing or carpentry. At least within electrical, within the first two years, you could be a Journeyman and making $25+ per hour.

Plus, once you are owning a property, you can do the work yourself instead of paying others to do it for you.