All Forum Posts by: Aaron Aguilar

Would be fine in a no tenant situation for up to a year.  Not to worried bout that. I'm going to follow your advice Benjamin and get the inspection on the rooms to be permitted.

Appreciate all of your guys input!

Appreciate the advice Rosston thank you!

I will move in with my brother and his wife why getting permitting done.  Once everything done and refinanced I will move out they will continue paying rent (they say they will never buy a house) and I will hopefully find a triplex/fourplex to owner occupy.

Basic thought, so the renters are in place and solid and long term.

Forgot to mention, $148,000 is average home price in area.

Complete newbie checking in.  I registered for bigger pockets months ago after about 3 months into my real estate education.  Super excited but everything piece of advice I saw told me, all my resources are here at my fingertips.

Well I've been studying.  I think I've found a property I want to make a move on.  It's a unique situation and so I'm coming to the experts for advice.

The home is 3bd-2bath-1437sq ft.  Home was built in 1974 and appraised for around $108,000.

There is some work to be done in the master bath. (Tile, new shower + subfloor)

She is offering it at $90,000.

Okay now here's the fun.  I know this house and lived there for 3 years.  It's in great shape with a brand new HVAC unit put in last year + the roof was just completely redone at the same time. 

What I haven't mentioned is the home has a garage that was converted into a bonus room as well as an additional seperate roommate entrance bedroom was added to the back which is around 600sqft.

Neither the bonus room or the back bedroom were permitted.  They both have electrical + hvac and we're done about 20years ago by the friends grandmothers friend who. I one knows if they were contractor or what.

If everything can be permitted it would become a 2300sq ft 4bd/2bth.

Now, I am a man that is use to stress and responsibility working management in corporate retail for years.  My savings are nothing though so financing is an issue.

I believe I can work something with the owner but would love options.  Ideas? Advice?

Is this a deal that sounds good and what questions should I ask myself I haven't?

Creative financing what are my options? (650 score). No realtors are involved and homeowner would be willing to work out some deal.  Want all parties happy.

Owner currently has an amazing 10yr loan at low interest.  If I could assume that loan for 12-24mths then refinance and pay off the home.  

Just my first home purchase and a. It of the nerves.

Any help or advice would be appreciated as I begin this journey.

p.s. Knowing my plans for this would help. Building a business model based on the BRRR strategy. Hoping to get everything permitted already have renters and will take gains for a downpayment on more doors.

Wow, @Rodney Wideman, Amazing resource!  Thanks for the share.

Thank you for the welcome Rachelle and Antwaun.  Look forward to my development and let's definately touch base in the future Antwaun.

Interested in any local REI groups/meetings you may be aware of in Columbia.

Hey BP community,

My name is Aaron Aguilar and I live in Columbia, SC. I've done many things over my life, from photography to Corporate life, but my passion has always been to move into the REI world. Since I was young I REI has stayed as a constant by-thought and I'm finally in a place where I'm ready to dive in.

As with everything in my life when I decide I'm interested in something I go ahead and learn everything I can about my subject. This problem solving passion of mine has lead me to BiggerPockets where I hope to fill my head with all the in's and out's of the REI world.

To bigger, better, and newer pursuits!

Best,

Aaron Aguilar