All Forum Posts by: Sebastian Naczas

Property is in upstate NY - Albany area.  It's a solid brick building built in 1874.  Dry basement, comes out it's a 3 unit (1 floor was split in 2 apt. before), I just saw it couple hours ago and the owner was there.  Older guy had it since 70's, seems like he did all the work there ... a lot of patch up stuff ... there is some plaster on the walls, probably asbestos is there also ... that's why I'd like to do a total gut, not sure how up to code things are done there.  It would be a place where I'd live also.  Any advices?

Thanks man!  I'll look into it ...

Hi All,

  I'm looking  at a 140 years old property, 4 unit, 4800 sqft.  And I'm wondering what should I estimate as a rehab costs if I needed to do everything - electrical, heating system, drywall, resurfacing floors ... ect.   If you would be so kind and list out the biggest tickets individually that would be great!  Thanks in advance!

Thanks all for kind words of advice!

One more question ... how long I would have to live there, before I can do something else with it?

Thanks so much!  I'll be taking a look at it soon :)

Hi,

I'm considering a house from homepath.com, FHA, OO ... first time home buyer ... I got a few questions.

- Do I do it myself or go through it with realtor (I signed some contract with Realty)?

- Can I see the house before I put an offer in? 

Please let me know.  Thanks,

Sebastian

Thanks for the info Patrick!

Yes she has gone over all those with me.  I'll ask her for possible grants.

But yeah 0% down on a 4-plex = WOW!

Thanks! @Brie Schmidt @Albert Bui

Albert is this available in NY?

Hi All,

OK so I'm a first time home buyer, I have couple of 3-plexes on my list and need to make up my mind now. I'll be an OO landlord.

I thought that up to 4-plex I could use conventional loan with 5% down. My mortgage broker says that in this case I can do FHA loan and a conventional one doesn't apply to multi-unit unless I'm putting down 20-25%. Can someone in give me a word of advice here? Thanks!

I know FHA is only 3.5% down, however higher PMI.

Thanks Guys!  I'll be there this or next month.