Hold Harmless Part II
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
Hold Harmless Part II (by mapleaf18 [NY]) Jan 30, 2023 3:08 PM
       Hold Harmless Part II (by Vee [OH]) Jan 30, 2023 5:12 PM
       Hold Harmless Part II (by small potatoes [NY]) Jan 30, 2023 8:07 PM
       Hold Harmless Part II (by Mapleaf18 [NY]) Jan 31, 2023 7:45 AM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

Hold Harmless Part II (by mapleaf18 [NY]) Posted on: Jan 30, 2023 3:08 PM
Message:

So the real estate agent showed up. Said the owner didn't provide said document so she didn't have it.

We saw the place. Would pretty much be condemned the way it is now. The guy that "owns" it now has a criminal record for domestic violence. From social media, looks like he has pit bulls as well. Single dad with visitation.

Anyway, looks like cobbed up DIY. He made a staircase that would make pre standardization aka Downton Abbey's servant staircases proud. The upstairs is gutted with some sheets of drywall lying around. Old windows. Full attic.

We would side it as it is all peeling paint. Basement is sound. Newer roof. Furnace installed incorrectly you can tell it used to have a steamer) First floor is all chopped up. Two sets of pocket doors (2110 sq feet) Fairly large backyard that could be converted into more parking.

Advertised as a 4 bdrm 2 bath which we would make into a 2/2 providing board approval. He's asking 49,900 (ha ha; we usually don't pay over 18K for this sort of thing since it needs new everything) This place smells land contract.

Will find out if there is back taxes on the place tomorrow (tax assessor only works 19 hours a week). No outstanding water/sewer bills (the state has a "program" for that). This is the only house he owns in this town. We usually pay the code enforcer to inspect the place and let us know if 2 and 2 is feasible. --64.246.xxx.xx




Hold Harmless Part II (by Vee [OH]) Posted on: Jan 30, 2023 5:12 PM
Message:

How much are they willing to pay you to take over? Maybe just a wash at 1000 bux? --76.190.xxx.xxx




Hold Harmless Part II (by small potatoes [NY]) Posted on: Jan 30, 2023 8:07 PM
Message:

thanks for the update. IF you fix it up what is it worth by you, or is this purely a cash flow play? --67.240.xx.xx




Hold Harmless Part II (by Mapleaf18 [NY]) Posted on: Jan 31, 2023 7:45 AM
Message:

Would only offer 15K max then get ahold of the crazy tax assessor to get the assessment down (assessed at 47K lol)

2/2 would bring in gross rents of aporox 1780.

--64.246.xxx.xx



Click Here to send this discussion to a friend
Report discussion to Webmaster


Reply:
Subject: RE: Hold Harmless Part II
Your Name:
Your State:

Message:
Hold Harmless Part II
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: