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All Forum Posts by: Richard Warren

Richard Warren has started 126 posts and replied 1670 times.

Post: EPA makes it illegal to be a handyman - Seriously

Richard WarrenPosted
  • Real Estate Investor
  • Las Vegas, NV
  • Posts 1,821
  • Votes 447

You may be misinterpeting this to some extent. This is what the website says:

I haven't seen anything that says you can't work on your own property, it references "paid renovators". It appears that property owners are subject to these rules only if you are renting the space to child-care facilities.

It's just another hoop investors need to jump through.

:cool:

Post: Using a "repair escrow" to pay for rehab?

Richard WarrenPosted
  • Real Estate Investor
  • Las Vegas, NV
  • Posts 1,821
  • Votes 447
Originally posted by Dustin Lyle:
I was thinking about the 203K loan too, anyone ever used one?


Be aware the the 203(k) program is for owner-occupants only, investors are not eligible.

More on the program: http://www.hud.gov/offices/hsg/sfh/203k/faqs203k.cfm

:cool:

Post: lots of "We're sorry ..." 500 status screens

Richard WarrenPosted
  • Real Estate Investor
  • Las Vegas, NV
  • Posts 1,821
  • Votes 447

I've received quite a few of them. When I refresh the page after getting one it usually loads right away.

:cool:

Post: Republicans are Racist???

Richard WarrenPosted
  • Real Estate Investor
  • Las Vegas, NV
  • Posts 1,821
  • Votes 447
Originally posted by Rich Weese:
Reids' kid already decided not to run because his dad is such a lug at present. Rich

Rory Reid is running. He is a candidate for Governor of Nevada. He is not very popular and it doesn't look like he'll get past the primary.

:cool:

Post: Republicans are Racist???

Richard WarrenPosted
  • Real Estate Investor
  • Las Vegas, NV
  • Posts 1,821
  • Votes 447

Reid's popolatirty is at an all-time low here in Nevada. One local newspaper is calling for him to retire rather than be embarassed in his bid for re-election this year.

:cool:

Awesome difference in speed. I need to get a helmet, scarf and goggles! There is one downside - there's no longer time to take a coffee break while waiting for a Forum page to load.

:cool:

Post: Trouble Brewing in China?

Richard WarrenPosted
  • Real Estate Investor
  • Las Vegas, NV
  • Posts 1,821
  • Votes 447

One contrarian analyst sees China as a house of cards waiting to collapse. If he's right the world is in for a major shakeup.

http://finance.yahoo.com/retirement/article/108534/contrarian-investor-sees-economic-crash-in-china?mod=retire-planning

:cool:

Post: Seller financing--how is this done?

Richard WarrenPosted
  • Real Estate Investor
  • Las Vegas, NV
  • Posts 1,821
  • Votes 447

It is a flat fee. It can be billed to the buyer or seller. The monthly servicing fee for this company is $14.95. I believe it varies based on level of service involved.

:cool:

Post: Seller financing--how is this done?

Richard WarrenPosted
  • Real Estate Investor
  • Las Vegas, NV
  • Posts 1,821
  • Votes 447

I have sold properties where I held a note. The actual note is set up by the title company and I use a mortgage servicing company to handle the payments as well as escrow for taxes and insurance. The servicing company handles tax reporting as well.

This is the website for the servicing company that I use. They give a pretty description of how it works:

http://www.noteworld.com/

:cool:

Post: What if there is no housing "recovery"?

Richard WarrenPosted
  • Real Estate Investor
  • Las Vegas, NV
  • Posts 1,821
  • Votes 447
Originally posted by Tim Wieneke:
I'm curious how many people here have any income stream that doesn't involve real estate. I know a couple buy gold...though that seems more of a hedge than an actual income stream. How many of you have something else operating?

I have multiple income streams, some large and some small. I had eight different streams of income but my wife has been unemployed for 1½ years (she hates being referred to as an income stream). Of the seven remaining streams, three are related to real estate. Having diversified sources of income keeps me from panicking if something happens to one of them.

:cool: