Are you asking: if someone has all cash for the full purchase price can they buy a BMR if they meet the other requirements?
Thank you in advance for the clarification.
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It's hard to advise you without knowing your investment goal for this area. Are you considering the purchase of a SFH to rehab and flip, hold and rent, or do you have a bigger project in mind? My guess is you're doing a buy and hold and want to gage the equity potential for this area, but I don't want to assume.
Bay View / Hunters Point has been trying to clean up and redevelop for awhile now, so if you're patient you will see a good ROI here, but there are certainly other options. I personally invest and work with a lot of investors throughout the Bay Area, so let me know if I can help guide you.
Gina Landers, Broker, CDPE
DRE # 178500375 License # 01388614
Are you talking about investing or working (selling) commercial real estate?
And what type of commercial real estate? Triple net leases? Apartment buildings, strip malls?
It would help someone to answer if you were more specific.... more
If your name was on the Loan Papers, then you will have a waiting period of THREE YEARS from the date of Close of Escrow from selling your old house.
You could always not worry about FIRST TIME BUYER programs;
you can still buy a house.... more
I would tell her to be careful about taking money out of her IRA as she could pay a penalty + taxes on gains in the IRA. Additionally, one should always be careful with money set aside and intended for retirement... more
It sounds like you are doing a pretty good job. I might would pay an agent a little something to do a CMA(Comparative Market Analysis) for you. This will probably not be the last time you will be fighting the tax office. The real estate tax is where a lot of the government is trying to make up some extra money. They are raising your value not the tax rate. That way when you come and complain they can say well your value increased and we did not increase the rate. I read something the other day that said the government is planning to raise taxes by around 1.8 trillion dollars in the next 10 years. Which will pretty much double everything in the next 10 years on taxes. This is there plan for the money they have spent on this recession. So get ready you may have to do this again for the next 9 years. If you can find your old appraisal that might help to. They will say it is an old appraisal, but if you can get a real estate agent to give you or at least tell you what the appreciation rate has been since Feb 08 you might can use this. Hope this helped.... more
Hi Diane, the only one who can apply for the exception is your mortgage banker. Ask them if they can push it thru, if not you need to move on to the next property.
Dave Tap Tapper