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The Home Ownership Thread - Page 95

post #1411 of 2933
Quote:
Originally Posted by SkinnyGoomba View Post

My great grandfather did this for most of his life, it's not without headaches, but makes a nice income once the place is paid for. He repeated the process multiple times as he decided he no longer wanted to live in the house but kept them to rent. Everyplace he lived in was multi-story and with tenants.

Quote:
Originally Posted by imatlas View Post

There's a particular property that is my one great real estate regret, that was set up this way - a full flat unit on the top floor and a one-bedroom in-law on the ground floor. We had only just started to think about buying something, the selling agent was a complete asshole, and Mrs. A was leery of becoming landlords, so we never made an offer on it. The way rents have skyrocketed in SF that in-law unit would be covering our mortgage and then some.

Yeah, I mean my idea would never be to keep it rented forever. Just rent it out long enough to cover a good chunk of costs (save X% of the rent in a dedicated fund for converting the place back to single occupancy).

Then when I have kids or something (probably wouldn't do this until I was married/engaged), stop renewing the renter's lease and expand my floorplan.
post #1412 of 2933
I would probably keep the property the way it is but upgrade to a larger home and rent out both units. That was the idea, anyway. It's not realistic in the current SF market.
post #1413 of 2933
That's what most end up doing, rather than booting out ppl who are paying the bills.
post #1414 of 2933
Quote:
Originally Posted by RedLantern View Post

Offer is in! It's kind of a weird deal, the property is owned by a Church so the sale has to be approved by a board of directors, which meets Thursday night. Hopefully they will get to it this Thursday, but next week at the latest.

Did you submit a personal letter with the offer? It can help, generally for homeowners but likely for a church organization as well. Could easily write some sappy story involving salvation and relationship with god to ingratiate yourself with them.
post #1415 of 2933
Quote:
Originally Posted by VLSI View Post

Did you submit a personal letter with the offer? It can help, generally for homeowners but likely for a church organization as well. Could easily write some sappy story involving salvation and relationship with god to ingratiate yourself with them.

I did write them a nice cover letter, though it was more along the lines of thanking them for all the work they have put into the property thus far, expressing desire and excitement in finishing that all up and making it a "home", desire to raise a family there, hopefulness for a good neighborly relationship with the church, etc. etc.

We're not religious so I didn't want to just feed them a line of crap.
post #1416 of 2933
Quote:
Originally Posted by RedLantern View Post

We're not religious so I didn't want to just feed them a line of crap.

They seem to have mastered the art. An eye for an eye peepwall[1].gif

But yea, probably the better route. Good luck.
post #1417 of 2933
They collect 4x a month, where you will only collect once a month. They will be in awe of your modesty.
post #1418 of 2933
When appealing a tax assessment, is it better to file yourself or get an attorney to file on your behalf? An attorney acquaintance will file for $250 (seems reasonable). However, I can just as easily send in the appeal form myself along with my HUD. Thoughts?
post #1419 of 2933
Quote:
Originally Posted by FtRoyalty View Post

When appealing a tax assessment, is it better to file yourself or get an attorney to file on your behalf? An attorney acquaintance will file for $250 (seems reasonable). However, I can just as easily send in the appeal form myself along with my HUD. Thoughts?

I did it myself without any prior experience or assistance. (I'm in CA) I just followed the process outlined on the county website. You want to be sure the comps that you provide are within the required time period and are truly similar. The more you provide the better. I called them first to ask what they were looking for. My county is known for being a real problem, but I had a positive experience. Good luck.
post #1420 of 2933
We're under contract! Closing sept. 30th!
post #1421 of 2933
. .
Edited by RedLantern - 8/19/13 at 4:48pm
post #1422 of 2933
They took your first offer? Does either party have an agent?
post #1423 of 2933
Quote:
Originally Posted by RedLantern View Post

We're under contract! Closing sept. 30th!

Congratulations! Pics?????
post #1424 of 2933
Quote:
Originally Posted by Ataturk View Post

They took your first offer? Does either party have an agent?

There was a little dickering about some addendums that I added into the contract - building of a fence, installation of a few windows, building of a small balcony. I guess technically they countered and I accepted the counter-offer. This was/is a private sale, so no agents/commissions. The church has an attorney that they said they were going to have look over their side of the deal. My mother is a broker so we were able cover our end.
post #1425 of 2933
Quote:
Originally Posted by pocketsquareguy View Post

Congratulations! Pics?????

Since it wasn't ever listed we don't have any listing photos or anything. I've just got a couple I snapped of the front of the house today. Obviously we will have more as time goes on - I have a few projects in mind right off the bat!



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