All Forum Posts by: RJ Dixon

@John Warren @Paul Welden 

Thank you! I wasn't sure how much I can get away with. I have a couple properties but never used FHA. My thinking was to get a fixer within the fha guidelines fix it up and refi out so I can use the loan product again.

@John Teachout

Trying to get it FHA. In another way of saying is i'm trying to find out what the minimum condition a property can be in for a FHA.

A real estate agent is free for the buyer. They will make sure the deal gets done while your best interest are protected. Building a relationship with one isn't a bad things as my emails are full of deals.  

@John Teachout

Looks like the owner started a project but i assume ran out of money as this is a short sell.

Hey BP!

My question is in regards to a FHA loan. I have interest in a property that is a 5 bed 3 bath. It has 2 masters. The 2nd master bathroom isn't finished. Just needs titles for the shower and a sink to be put in and some flooring. Everything else will meet the MPR. I couldn't find anything in the handbook about it. Wasn't sure as the property has 2 other working bathrooms.

Thanks for the help

@Nathan G.

Yes we wouldn’t add a new water main. We changed out the plumbing to pvc. It’s easy to add a sub meter. I’m not sure if it is worth it and figuring out how to bill.

@Stephen J Davis

Yes we redid the plumbing and added a water heater. It’s a up and down duplex. We are able to add the sub meter no problem. I was looking how to bill or if a company can do it.

Hello BP!

Has anybody installed a sub meter on a smaller property? ( Duplex ) Or know a company that makes sense? I talked to the city water company and they didn’t really understand what I was trying to do. They wanted to put in a whole new main line. Digging a new water line won’t work. It would be costly and palm trees and vegetation are in the way. The plumbing is exposed so I figured it’s the best time to at least try. Thanks for any info.

* Property is in Florida

@Andrew Postell

Thank you for the information I appreciate it. We make to much money for the home possible. I tried to fight with a appraiser on it being a a single family but no luck. It happens that the seller was motivated and we both worked out a deal. Once again thank you and have a merry Christmas! 

@Andrew Postell

I know I can buy multi with Freddie/Fannie but I’m trying to only put 5% down as owner occupied. I was having trouble getting that product but I don’t think they have it. I could be wrong. The land is zoned multi but the home itself is in the county records as a single family with a mother in law. The appraiser didn’t see it that way. He wanted to appraise it as a duplex. My plan was to owner occupy as a single family because I know you can go 5% conventional and only live in it for a year. While living in the property I would do what needs to be done to make it a legal duplex. If that makes sense.