All Forum Posts by: William Coet

Hello,

A relative wants to buy a fannie mae homepath home for owner occupancy.   The home has not yet been listed, but we know the realtor who will be lisitng it.  We contacted the realtor today and he said it should be listed within a week.  Our questions are as follows:

1.  Is there anything we can do to get our offer in first (have an offer filled out with realtor prior to listing, etc) and catch the attention of fannie mae by making it more desirable than potential competition for the property (cash offer, proof of funds, etc)?

2.  Does Fannie Mae have a waiting period while they review offers?

3. Does Fannie Mae have a percentage lower than the listing price that they typically accept? (I remember HUD doing this).

Thank you, and any suggestions for getting an early offer into Fannie Mae that they will accept would be greatly appreciated!

 Are they giving you an explanation?  Are you hoping to finance the full build cost?  What are the projected monthly rents/unit?

Originally posted by @Lien Vuong:

Your question is very bizarre .. 

Do you currently own a DD and want to construct a new location? If not so, why DD specifically?

Those are really the secondary issues when it comes to franchising, first the foremost, you have to pass and be approved to be a licensed franchisee with their business and then purchase existing locations or build new ones that they have already screened. 

DO you have the funds and experience that you think would support you in this business? What is your hospitality background? Any construction experience? 

I see a market where it may work, what is so bizzare about inquiring about feasibility analysis?

Will DD be inclined to work with existing franchisees in the area, and not a new operator?  I'm thinking of being he franchisee and the property owner, but maybe property owner only is a better idea.

1. What is the best way to determine feasibility for constructing a Dunkin Donuts?

2. Can anyone offer insight on building a new construction Dd?

Thank you

If tenants are willing to "jack" the dehumidifier you may have bigger problems....
However, you could always make your boiler room open to the rest of the basement with a wire mesh or chain link wall instead of a solid wall.  Even a partial wire mesh wall or chain link wall should do the job

Originally posted by @Wayne Brooks:

Title problems, likely.

Thanks Wayne,

Another property was listed on auction.com and we were the winning bidder, but the bank decided not to sell it.  This was 2-3 months ago, and the property still has not been listed with a realtor.  IT is occasionally mowed by an out of town maintenance crew (presumably hired by the bank). The guy who is mowing commented that the bank was going to list it with a realtor to attempt to get a higher price.  Someone at fannie mae, said the same thing. It is a fannie mae property.

1.  Why has this one not been listed for sale? 

2.  Is there a way to contact them and get an offer accepted before it hits the market?

There is a bank-owned sfh that that has been sitting empty for 3+ years and has never been listed for sale with a realtor.  The previous owner filed bankruptcy and the bank took possession of the property.  Why would they not have listed the property years ago?  They have been paying holding costs the entire time.

Thank you

Hello,

We had a lease transferred to us that began in 2018 prior to the new rental law enacted this summer. The lease ended in May of 2019 prior to the new rental law being enacted. I have a couple of questions regarding the late fees on this pre-existing lease.

1.  The lease states a 10% late fee and the new rental law limits the late fee to 5%.  Was a 10% fee allowed prior to the new rental law?

2.  Do the terms of the lease that was created prior to the rental law still apply when deducting late fees from the deposit if the deposit is being returned after the new rental law is enacted?

Thank you in advance for any responses.

When visiting places on vacation it's always tempting to look at real estate prices and talk to people who own there.

Often times, owners will talk about the amazing appreciation they have experienced.  I have visited places in the US where tourism/vacationing is the primary economy and the values have been climbing for decades without any other jobs!

Are there indicators that a vacation area is going to continue to appreciate?  Do certain things (proximity to certain metros, historic trends, zoning restricitons, etc.) contribute to making a highly appreciating vacation market?