All Forum Posts by: Shelby Ek

My first ever tenant (in a 2 unit house hack) was my tenant for about 10 years, he lived there many years prior to me buying it as well. I barely ever raised his rent, a few times I paid for supplies or helped him with an improvement he wanted to make. He moved when he bought a house and his best friend ended up moving into his apartment, and I’m going on 4ish years with them. I’m super grateful to this tenant for so many reasons.

hey Cameron!

Cabinets- Clark’s cabinets (message me for contact info)

I dunno if there is a cheaper place for granite but I just got mine for my own house at keystone supply outlet and they did install. I was really happy with them. 

Locksmith- Knauss and sons

Each municipality has different requirements. In allentown there is a c/o requirement but the buyer can agree to buy without one and handle getting it if seller is unwilling.

Your agent will likely know if it’s a requirement or not but you could always look online or call the municipality and ask to be sure.

Im in PA not sure what other states may or may not allow but...

There are so many ways you could use your commission as a bargaining point.

I just represented my husband and myself to purchase a primary residence listed on MLS. I ended up just taking the commission (yes I have to pay income taxes on it and some of it went to my brokerage) which for me was not an issue as I am trying to show more income on my taxes to qualify for future loans.

I imagine your lender would have to agree to using your commission as part of your downpayment.

If you can go FHA 3.5 down and get max seller assist and get your commission as an agent it's a killer way to buy an owner occupied property for very very little money out of pocket.

Here... house hacker, investor, licensed agent

@Greg H. oh yes now that you say it I recall learning that.  

@Ryan Bray best of luck to you. I ended up also having to do an escrow some repairs. Some reasonable- a roof and ceiling repair from a major leak... some not so reasonable (they literally made me escrow the cost to add a deadbolt to a door). The whole thing was a major hassle but totally worth it in the end. I'm actually living in my HUD purchase now and about to move out of it shortly here. I Brrrr-Ed it and have already gotten all my money back out. Keep us updated on the process!

@Ryan Bray

Is your deal gonna make it through? I had to push my lender like crazy. Turn no’s into yes’s or beg for alternative solutions. If your find a lender that can move fast you might be able to switch lenders? Like I said before I would not attempt a hud purchase ever again using a conventional loan. 

@Ryan Bray Ive learned so much since I originally posted this question.

In my case there was a very small window of time I was allowed to turn on utilities.  Had to be requested through a third party and in my case I only got approval to turn on electric.  I don't believe they ever approve water to be turned on.

Is this a conventional loan?

Im not sure I understand why its an issue that it was not included in the estimate for the loan.  You'd be paying out of pocket to have utilities activated the lender would have nothing to do with it?  Can you explain further.

If I ever buy a HUD home again, with utilities off I would not attempt to use conventional financing. I believe it was a small miracle it all came together. Tons of hurdles. Feel free to message me.

I think I know exactly the property you are talking about as well. Have you viewed the inside of both of them yet? 

We went through this a few years ago while renovating a commercial building.  We had no idea what we were getting ourselves in to at the time.  I named myself as the GC on the project, apparently you can do that on a property you own in Allentown.  We found a local architect to draw up plans, and third party review wasn't optional, it was required.  We submitted the plans to the city and they sent them to their third party review company.  If I were to do it again I think Id hire a GC who was experienced in doing all of this and used to working in Allentown.  It was definitely not the easiest process to navigate but we did it and certainly learned a lot about the city permit and inspection process along the way.