All Forum Posts by: Anna Catron

All righty then!  Glad to see the interest!!  So I'm convincing the spouse to help me host a potluck here at our place Thursday night after work. Who's coming??  We're in Nacogdoches and could start at 6.

@Caleb Lane, thank you, sir.  I really just wanted to see someone else say it in those words. Yes, we bought it cash and are done with a spectacular rehab! I couldn't find it in any of my zillion books or websites. And I wasn't ready for the onslaught of phone calls that follow one inquiry phone call!  

This has been asked before, but I can't find it anywhere.  We bought a duplex for $100k.  Rehabbed it ($40k), it's worth $200k. 

QUESTION: DO WE wait until tenants are in place to finance it?

QUESTION: Will most lenders finance it?  It's hard to find a quote bc it's not a PURCHASE or a REFI. 

Thanks, y'all!!  

@Andrew Postell

Does this information still stand?  We bought/rehabbed a duplex with cash and are looking to finance out of it.  What reserves will they be looking for in order to finance it?  This will be Doors 3/4, not including personal residence. 

Thanks!

Fascinating stuff!!  My husband was putting finishing touches on a duplex when a potential RENTER wandered up. That was WEDNESDAY. We're signing a contract TODAY to buy her 0.66 acres and literal dog poop house.  So yes, we're looking to build as well.  The numbers don't look good. Really, as bad as buying used looks, building looks more expensive. Yes, easy $125-200/sq ft. AFTER having bought the land.  Depends on how much appreciation/cash flow you expect 

Here's my question. We bought/rehabbed the duplex w cash and hope to finance out of it.  After the rehab and paying cash for the afore mentioned property, we're cashed out.  How much cash will a lender want in the bank in order to finance out the duplex??

Thanks!  I love BP!

Fascinating stuff!!  My husband was putting finishing touches on a duplex when a potential RENTER wandered up. That was WEDNESDAY. We're signing a contract TODAY to buy her 0.66 acres and literal dog poop house.  So yes, we're looking to build as well.  The numbers don't look good. Really, as bad as buying used looks, building looks more expensive. Yes, easy $125-200/sq ft. AFTER having bought the land.  Depends on how much appreciation/cash flow you expect 

Here's my question. We bought/rehabbed the duplex w cash and hope to finance out of it.  After the rehab and paying cash for the afore mentioned property, we're cashed out.  How much cash will a lender want in the bank in order to finance out the duplex??

Thanks!  I love BP!

Funny, not going to argue that. On here, I assume people are doing their due diligence. Could be a faulty assumption. 

I can agree with the above. Not much MF inventory at present.  Further outside the city, more is on the market.  Living in one of the units is a great idea!  If you're able, I'm envious!  

I also agree that a base hit is where it's at right now.  Appreciation will make you look like a genius pretty quickly.  The FW market's not going anywhere but up in the long foreseeable future.  

I agree, you'll get you a place. Welcome to the investing club!   

I wanna play too!  How far are people willing to drive??  I'm happy to host a potluck and provide the burgers!  

We just can't say enough about DFW.  We're still small potatoes, but are in love with the area.  One area I don't hear much about, but that has big potential is Longview, east of the metroplex.  Buying low is still possible and appreciation is fantastic! Doesn't feel like a metroplex, but is getting some of the perks, good medical care and good jobs!  

Yes, many many are moving here and there's room for us all! Welcome!