All Forum Posts by: Orita Issartel

I was just wondering if the 40 Years recertification is something that is needed done in most states or basically only in Florida. I own a Triplex built in 1925 that we bought a couple of years ago. It had no recertification done. I received a noticed for the city telling me that we were late with the recertification and were gonna have fines if not done within the month. Mind you, this is Miami and the building dept. here is not an easy one. After having paid an engineer for the needed inspections I did a lot of research about it and found out that my triplex was exempt because it's 3 separate houses in a large lot and not any of them are larger that 2000 SqFt.  I actually had to fight with the city about it and one of the inspectors there told me to change it to a duplex??? I did win the fight! From now on I'm careful when looking for multifamily bigger than duplexes as they all need the 40 years recertification.

How long has this tenant lived in the unit and is she a good tenant, paying on time and causing any troubles? The reason she gave you for not accepting the fridge is not a valid one. If she's a tenant worth keeping though I would try to avoid having a unhappy tenant living in your building and just buy another fridge, as you'll have to anyway!

Did their old lease expire and that's why they signed a new one? I strongly suggest they consult with a lawyer.

Welcome to BP! Lots of learning opportunities here.

I agree with Teresa. Don't underestimate it. Do some more research on the property and the area so in case the owner calls you you're prepared to take a decision. Good luck!

I don't like the idea of a grilling area because of liability issues. A community garden could be a good idea but you'd have to have access to water there and it would cost you money on the usage of water. Are there a lot of kids in your complex? If so maybe a playground.

I thing that depends on the kind of property you're flipping. If it's in a nice neighborhood I would definitely have a water dispenser.

@SimonRuiz The broker you sign up with is responsible for your actions. Normally they do not allow their agents to post their own listings. It can get confusing. If you have a license but you are not signed up with a broker you can not act as an agent, get access to the MLS, etc. Your status is inactive.

It seems that this time things might work out. In the future I would use proper forms ( contract to lease and then a lease) and document all communications on a written format. Good luck!

After the Bubble burst, my husband and I found ourselves with the loss of quite a few properties. We had nothing left besides our courage, strength and the desire to start over. By working hard for a good year we were able to save enough to buy something to move into as we had lost our homestead to foreclosure. With the little money we had we were able to buy a foreclosed property that needed a lot of work including windows as this house didn't have any. It had metal shutters! But this house had a good soul!

We had a little bit of money left to do some rehabbing  before moving in. We did quite a bit of work in this house and lots of it as we were living in it. After a few months living in chaos we were finally done. But I knew that to move ahead we needed to sell it and start over. We waited until the 2 years homestead were completed and put the house on the market for quite more that we had paid for and spent in remodeling. The good thing about it is the fact that we didn't pay a dime of capital gain taxes. That gain and our hard work has permitted us to buy more properties and now, 3 years after we sold that first property, we own 2 single families, one triplex and a duplex free and clear except for the triplex which we have a small mortgage on it.

I still like to use the homestead advantage to sell without paying capital gain taxes and have no problem moving every 2 years!!!