All Forum Posts by: Angela Zanti

is that the 203k loan? I was hoping to do a regular cash out refinance because I heard 203ks can get very messy if you don’t know what your doing. I’m also wondering with me already living here would I cash out refinance, live here when the repairs are being done and then refinance again to move out to repeat? 

Hi! I guess the easiest way is to explain my situation now. The house I live in with my hubby and kids is titled in me and my dads name but the mortgage is in my dads name only. We have lived her for 15+ years and have a good amount of equity. My dad wants the house out of his name and my name only on the mortgage. I was already told I could cash out refinance and take my dads name off and put my name only on the mortgage. We owe about 35,000 left. Smaller comps in the immediate area are selling for about 80,000 in unfixed condition. I unfortunately have no comps in the immediate area that are fixed but the neighborhood next to us (within 2 miles away) has houses in fixed condition selling for 160,000-200,000. With all this being said I want to BRRRR!!!! I understand BRRRRing but I'm stuck on do I cash out refinance in as is condition to get the money to rehab first and then refinance again to get the money back? Or do I rehab without refinancing now and then refinance after rehab? If that's the case I wouldn't have the money to rehab 😑 I'm also stuck on HOW do you rehab a house you and your family live in? I have a 4 and 5yr old and I could imagine them painting in back of the painter with their makers 🤦🏻‍♀️ Can someone please give me a idea of how it works or am I overthinking things?? I also know the flat roof is very old so I feel like that would need to be repaired.

Thank you for any ideas specific to my situation ❤️

Hi Cory! I am also in Baltimore MD. I have had my fair share of lenders and people that make commission telling me so many different things just to get the sale. I knew there was a more simpler way in the situation I was in but they wanted that commission. I can’t blame them. I finally got in touch with Derrick Quick at Definitive Title. He is a real estate attorney in southwest Baltimore on Washington Blvd. Derrick charged me 500 to do what lenders would have had me take a 60,000 + interest dollar loan out to do!!! He SAVED me.  I hope this helps.  

Man I missed it. I’m new to BP. Can someone please let me know how to set a alert? 

I’m not a lawyer but you should look at the contract for the inspection. The contract will tell you if you can hold the inspector liable for the damages. I personally wouldn’t go that route. I would fix it if I could and rent or sell it.

Yesterday I seen on the forum that there is or was a Bigger Pockets App. I have a IPhone and unfortunately no computer. I’ve looked on the App Store but nothing pulls up when I search “Bigger Pockets”. Can someone tell me how to get the app or what the deal is on if there even is a app? 

Thank you 😊 

I’ve heard of this working for a friend but IDK all the details. The friend was living in her moms house. The agreement was she just pays the mortgage in her moms name. The mortgage was only in moms name but the title was in both of their names. Mom ended up disabled in her older age so they wanted to move her in a assistant living but for some reason this situation complicated mom going. They ended up doing a HLOC to pay the house off and the house ended up in my friends name. Now the house is only in my friends name and her mom was able to go to asst living. 

Note! I don’t know all the details but so far nothing has came back to bite them in the butt

Following to see comments. I’m in Morrell park not far from federal hill. I was told instead of digging basement or adding a level I should consider doing a rooftop patio. Doing a rooftop patio could really make the property “hot” especially if your close to the stadium.