Is it possible to take out a home equity line of credit the same year you close on a home?
Recently closed on a home for $ 20,000 (terrible condition)
Put in $ 10,000 in renovations (practically a brand new home now)
My guesstimate is the house is worth between $ 65,000 and $ 100,000 in today’s market
I want to ‘refinance’ so that I can pay off this mortgage and use the extra money to purchase another house for approximately the same price including renovations and I want to rent out the second house. I would get around $ 1,000 to $ 1,200 per month off the rental of a similar home…
Is it possible to take a new home equity loan so soon? Are they stricter on refinancing? What would I have to be careful with? Any experiences?
Thanks for all answers!
Categories: Mortgage Tags: equity line of credit, experiences, extra-money, guesstimate, home equity line, home equity line of credit, home equity loan, refinancing, renovations, s market
Dealing with a shady landlord
I have lived at my current address for over a year now and in that year I have dealt with a lot of crap from my landlord or should I say Slumlord. He has been investigated by the town by-laws officer once before I moved in and since I have lived there. After the visit the office deemed the apartment unsuitable and told the landlord he must make changes.
Categories: Mortgage Tags: after-the-visit, Apartment, Current, current-address, landlord, landlord-made, landlord-tenant, landlord-then, months-if-not, office, renovations, rent, the-apartment
Trespassing Landlord?
My boyfriend has had an overbearing landlord since July and is almost done with his lease but recently the situation has gotten much worse. The landlord walks into the unit almost every day.He is renovating the kitchen because he plans to live in the unit once it is fully renovated. Sometimes he brings friends to help him with the renovations
Categories: Mortgage Tags: bf, boyfriend, check-on-things, couple minutes, dirty dishes, during-the-day, kitchen appliances, landlord, landlord-tenant, lease, leaves-the-door, nice things, phone-calls, renovations, resident physician, retaliation, roommate, sink, unit
Commercial Lease Question
Looking into a office space for lease. A non-binding letter of intent was issued to open negotiations based on the given usable sq footage. The letter was accepted
Categories: Mortgage Tags: binding letter, commercial lease, general - real estate, leasing, leasing company, letter of intent, little-input, monthly-price, negotiations, office lease, office-space, origional, renovations, smaller, sq foot, sq footage, the-leasing, the-origional
Landlord threatening bad reference/withholding deposit
We have been in our apartment nearly 2 years. We have been model tenants--paid rent early every month, asked for very few repairs (of things that were incorrectly installed in the renovations prior to our tenancy), broke nothing, caused no damage, made no noise, etc. etc.