All Forum Posts by: Tom Fidrych

I'd go down to the planning department and ask them what is required. 

I'd get at least 2 more septic contractors opinions on the type of system you will need and the amount of time it will take. As Nate said, 1-2 weeks is all it should take-even for an engineered system. It may be that the company you talked to is booked out that far.
Is it possible you can pump out the existing septic tank as needed while the tenants remain? Sometimes pumping the tank out a few times will allow your leach field to recover enough to buy some time until a replacement system can be installed.

Here's a quote from experian's website:
"What about when you are shopping for a loan?

When you are shopping for a new loan, such as for a home or a car, your information may be sent to multiple lenders to try to find you the best rates and loan terms. You will see a separate inquiry on your credit report from each of these lenders, but your credit score won't be penalized for each one. Most credit scores will count multiple inquires for mortgage or auto loans as one if they are made within a certain period of time (14-30 days). Some scores do the same for other types of lending."

So multiple inquires shouldn't affect your score. I'd always recommend getting at least 3 opinions/quotes.

Given that lenders actually use your income(versus in the stated income fueled bubble) to determine your qualifying amount, then yes, as rates rise you will qualify for a lower loan amount.  This should cause home prices to flatten or likely decrease to some degree in the future. 

Potential concerns with the candles masking a smell would include smoking inside, pet smells, marijuana cultivation. 

If the camera shows his sewer line has failed, he will have to fix it. If he refuses, you can report him to the city or county. In my area, the environmental health department deals with sewage issues and they will inspect it and issue a red tag. Hopefully he is reasonable and you don't have to go that route. 

It sounds like these are in a tough part of town given the vacancy rate and squatters. I'd bite the bullet and repair them and sell asap.  Values are still up but with the rate increases coming this year, I expect the market to eventually cool. If you market them as is, they won't qualify for traditional financing and it will be priced as a distress sale.

Did they take the wiring too? 

Always get at least 3 bids and/or opinions on the fix.

If the tenants have a valid complaint about the heating system, you are obligated to fix it. It's just the cost of doing business. 

You may want to inspect the unit. The people in my areas that run AC during the winter are dumping excess heat from their grow operations. 

Tesla has a poor customer service reputation with their solar products. Google "Tesla solar roof lawsuits" to see what people have experienced.
Additionally, most solar roof products in the past have not held up well. Since there is no air space behind the panel, they get hotter and don't preform as well and are more likely to fail . There are also many more interconnections than a traditional system leading to a higher failure rate. Most people in the solar industry recommend going with a new roof and traditional solar panel arrangement.
A friend of mine signed an agreement with Tesla for a solar panel installation. They recommended installing a new roof before the installation. He did this and when the crew came out, they drilled a number of holes in the roof trying to locate the rafters. They couldn't locate them and filled the holes with mastic and left. He couldn't get them to send out a new crew or fix the holes and ended up paying his roofing company to replace the damaged shingles.

What do you mean by getting cash offers over what it's worth. Are people or companies cold calling you? Just because someone throws a huge unsolicited number at you, it doesn't mean that's what they are willing to pay. Sometimes a generous offer is dangled to get your attention but then when under contract they come back and say it doesn't appraise, or needs thousands of dollars of work or some other excuse and your down to par or less.

Of coarse, you could be in a great neighborhood and the offers are higher that comps. The problem with selling now and buying real estate later is the 20% capital gains tax, ~5% agent fee(if you use one). Looks like no income tax in Florida though. So if property values decline 25% in 4 years and you repurchased, you'd be back to where you started. But if you can put that after tax money to use, it's a great time to sell