BiggerPockets.com Real Estate

Forum for Investors of Real Estate. Discuss financing, foreclosures, wholesaling, rehabbing, landlording, and much more. Provider: BiggerPockets.com Feed Type: Informational [report]

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Bank owned Deal Analysis

The closing attorney handles the payment of the water bills outstanding on the HUD on the seller's side. You must push to get a copy before the closing and object if it's not there.

I just spent 4 days tracing a tub leak from a tub with shower and it was dripping down into the foyer ceiling below. The tenant had changed the shower nozzle to a high powered broad spray zone head and the water seeped through a pinhole in the tub caulking. What a mess.

Here the outstanding water bill is against the tenant but it used to be against the landlord. You need to know why that bill is so high. I know someone who just bought a beachhouse and his bill was $600 from a running toilet apparently.

Someone's been washing cars in the yard or taking in friend's laundry me thinks.

Need Investors Money

I just have to jump in this to let you guys/gals know how much I appreciate the help... I didn't start the thread, but its good that those with the experience are able to take the time to inform those of us without it... thanks again.
Dustin

Just got all my RE tax bills

I protested most of my tax bills here in Texas. I actually got one reduced from assessed value of $124K to 100K. nevertheless, when you have over 40 properties to pay taxes on, it is a pain. I'll still take this area over any others(except MS to avoid paying any income tax) due to low median price rent and relatively high rents. I continue to buy and build here in TX.

What part of you do you feed with all the negative commentary?

LMAO. Thank you Mike. Now I have to clean up pepsi spray off my laptop.

CNBC this morning CMBS are free falling

You might think the Clintons won?

I think Hillary did win. She will get to jet all over the world to party with world leaders, while Obama will be stuck here, leading the United States through the worst depression in history!

Mike

World in Crisis??

I agree. Great graph. The problem is that we've dropped the same % in less than HALF the time it took the last 2 to reach same point. IMO, we have a lot further to fall. How many shoes can we have drop? More than 2 for sure.

Fannie Mae & Appraisals?

Yes, we have an appraisers board in the state government. Anyone with a license is regulated here.

If it's an investment appraisal in our are a junior appraiser can't do the appraisal. The supervising (licensed appraiser) must do it. Many times the appraisal company sends a rookie to "try" and do the appraisals on the ones I'm selling. Lenders are the only ones that seem to understand this. After much arguing, a senior appraiser always shows up. Make sure this guy is fully licensed and not an understudy.