I do not know how much time most people spend in their bedroom, but generally they store a number of things in there, but I cannot think of anything that I would want in there besides a bed and a dresser.
Okay. This house is weird. I think that all of the doors slide. The bedroom doors may be different, but I think they are leaning against a wall. Barn doors cover each exterior door, which is cool, but wood over glass still doesn't provide insulation.
I don't think there are any ground-floor windows.
I was trying to figure out where the kitchen is, wondering if the window looked outside or, for some reason, was into another part of the house, but I have only seen interior windows on additions.
I spent a moment trying to figure out what I saw in the window and at first thought that it had a highly-reflective coating, but realized that it was just a mirror:
That white rectangle is the ancient fridge. You know, the type with a plastic freezer door inside the big fridge door.
The bathroom is behind the kitchen mirror, so you cannot knock the wall to open up everything unless you want a nice view of the bathroom.
You may be able to take out the wall between the kitchen and the main room for a bit of lateral visibility.
Upgrading the lighting would also be good.
If there is an oven it must be across from the refrigerator!
Who needs an oven when you have a toaster oven and a turkey roaster?
Odd details aide, I have three questions:
- How much is it worth?
- How much will it cost to fix up?
- How much will it be worth then?
One of Kevin's videos seemed useful. No, not this one:
However, for some reason that one comes up instead of the one that I want.
For "every dollar of monthly debt you have you have to earn two dollars and thirty four cents to qualify for additional debt."
Paying off debt sounds easier.
You make $50,000 a year and owe $50,000 in debt. Instead of earning another $117,000 to position yourself as if you had $50,000 income and zero debt, pay off the debt?
- Buy debts with an S-corporation, even if you need to personally guarantee them.
- Banks don't want 850 credit scores. They want ones around 740 because you are more likely to use your credit.
- Don't deduct expenses, depreciate them over three years, that won't affect your income.
- If you are denied for a mortgage apply elsewhere.
- Build a portfolio so you can get a business\home equity line of credit, etc.
I do not know how any of that helps me, unless I get denied for a mortgage.
This is the one. I guess that I remember the name wrong:
- Always buy braided-steel hoses for your washing machine.
- Turn off the water to your washing machine when you go on vacation [and turn it back on when you return]
- If you find a good deal on a cash sale, like a $510,000 house in a $650,000 neighborhood, write an offer for 25% down with no appraisal contingency, and promise to cover all repairs required by the buyer's appraiser or lender.
He made the repairs, the originally cash-only deal was approved for a conventional loan, and he got in for 25% down, plus remnant carpet, drywall, and a furnace.
That doesn't help me.
The VA does rehabilitation loans! Why haven't I heard of this before?!
Quote:
You can't do major structural work, add a new floor or room, install a swimming pool, or make landscaping improvements. You also can't put up a detached garage. Also, anything that requires a structural engineering report is off-limits.
Here's what you can do:
Repair or add new windows, doors, or siding
Repair or add new roof or gutters
Install new HVAC systems or water heaters
Improve insulation
Weatherize
Treat mold, lead paint, or mold
Make updates to improve energy efficiency
Repair or replace the flooring
Repair or replace electrical or plumbing systems
Accessibility updates
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Can you put up an attached garage?
My two concerns are:
Quote:
All construction must be completed within 120 days of your closing date.
The property must pass the VA appraisal and meet all minimum property requirements upon completion.
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Will the VA rehabilitation loan cover everything required to pass the VA appraisal and can everything be done within four months?
VA Rehab and Renovation Loans: Borrowing More than a Home is Worth
I only knew about the Federal Housing Administration’s Section 203(k) program, but this is a long post, and it is 0121, so I will post about it tomorrow.
Sleep well!