All Forum Posts by: Alex Lam

@Craig Curelop

Sup

Hi all , I am a newbie at this.

So please correct me if I have the wrong idea ..

I am in my 5th year of my FHA single family.. I am looking to re-fi soon into a conventional... the plan is to get a new FHA for a Multi-Unit . Live in one part and rent out the others..

Current Loan balance 160k

Loan officer (friend of mine) said my area is 220k+ . Recently sold in my area is 220k+ on Zillow.

I was wondering what rehabs are more important than the other when it comes to the reappraisal.

Recessed lighting?

Improve kitchen?

Improved bathroom?

Exterior improvement?

If there are any pieces that I am missing / that’s I am not putting into consideration please let me know.. I am trying to make my first move to become financially free.

Thank you all for your time and help!

Sup

Hi all , I am a newbie at this.

So please correct me if I have the wrong idea.. any suggestions are greatly appreciated ..

I am in my 5th year of my FHA single family.. I am looking to re-fi soon into a conventional... the plan is to get a new FHA for a Multi-Unit . Live in one part and rent out the others..

Current Loan balance 160k

Loan officer (friend of mine) said my area is 220k+ . Recently sold in my area is 220k+ on Zillow.

I was wondering what rehabs are more important than the other when it comes to the reappraisal.

Recessed lighting?

Improve kitchen?

Improved bathroom?

Exterior improvement?

If there are any pieces that I am missing / that’s I am not putting into consideration please let me know.. I am trying to make my first move to become financially free.

Thank you all for your time and help!

Recessed lighting?

Improved kitchen?

Improved bathroom?

Any exteriors?

NEWBIE NEEDS HELP

What’s up BP community,

5 years ago I purchased my first home with a FHA . I'm looking to re-fi soon into a conventional loan.

What rehabs should I do over another to get the best appraisal?

Current loan balance is 160k

Zillow , Loan officer (friend of mine) Gave me comps for 220k+ now

So the idea is to get out of my current FHA and and get into a new FHA mult-family (Quad-plex) live in one and rent out the others... (House hacking?).

Looking for some more ideas and guidance so I can really put my financial freedom ball into motion.

I appreciate all the replies and helpful ideas!

Thank you all

I am currently in search for my first deal, I have a few REOs on my list that I am looking at.. I have cash and proof of funds ready.. how much leverage do I have vs another that's going through conventional , FHA loans?

How much lower may I offer the lender on the property?

Thank you very much to those who give input!

Greatly appreciated