All Forum Posts by: Rolanda Eldridge
Rolanda Eldridge has started 47 posts and replied 1267 times.
Post: What is current interest rate for six unit?
- Investor/Realtor
- Hoover, AL
- Posts 1,309
- Votes 459
It varies ...Depends on Character(Credit) Capital ad Capacity...even market to a certain degree.....Best answer from a commercial lender/bank...
Post: Buying Owner financing how to start once deal is found
- Investor/Realtor
- Hoover, AL
- Posts 1,309
- Votes 459
Ask if they will consider Owner Financing....Most require a good down payment...
Post: Signing a buyer agreement
- Investor/Realtor
- Hoover, AL
- Posts 1,309
- Votes 459
I like new clients to commit to 90 days min, unless it's a property specific offer...It's all negotiable...
Post: I NEED ADVICE or my first rehab
- Investor/Realtor
- Hoover, AL
- Posts 1,309
- Votes 459
Definitely get an attorney involved to draw up some kind of paperwork...CYA....
Post: WHAT WOULD YOU DO - Seller and Inspector Can't find Crawl Space
- Investor/Realtor
- Hoover, AL
- Posts 1,309
- Votes 459
Not all in my area, have crawl space. Can be on a Slab...Plumbing and electrical in the ceiling...
Post: What is the best way to submit offers?
- Investor/Realtor
- Hoover, AL
- Posts 1,309
- Votes 459
@Brian V...They can provide you with a PreApproval letter for funding. Theres's a lot of competition. Financing contingency on certain offers knock you out ..Most ask for Highest and Best because there are 3-4 offers in ....
Post: Busiest January in years
- Investor/Realtor
- Hoover, AL
- Posts 1,309
- Votes 459
Yes, inventory shortage in my area..Especially in HOT areas...Plenty of investment opportunities...Downtown Birmingham is Booming...The new Publix Supermarket opened and lots of new construction in the multi sector......
Post: What is the best way to submit offers?
- Investor/Realtor
- Hoover, AL
- Posts 1,309
- Votes 459
@Brian V....It depends on the property..Hud, Homepath and others require system generated offers. On others, I require POF or Approval, but generate system contracts....I work with investors, so I don't mind putting in offers...Beware of Tire Kickers. Most can't ever provide POF...
Post: Making offer on the fire damaged house
- Investor/Realtor
- Hoover, AL
- Posts 1,309
- Votes 459
@Toan Le... Get an estimate of repairs first...It can be extensive, depending on the damage. Sometimes, they will require a total rewire for electrical. I purchased and completed a rehab but the inspector only required the room with damage, because others not affected... I'm sure that varies with city and inspectors. In our area the meter is usually pulled after a fire and requires permits ...GL
Post: Becoming an Entrepreneur...
- Investor/Realtor
- Hoover, AL
- Posts 1,309
- Votes 459
@William Brown..The crash actually Catapulted my business, since most investors sat on the sidelines...Over 40 RE transactions ...Most of my projects included Rehabbing SFR, Renting, Owner financing and Turnkeys......Still maintain a solid portfolio..;)..Looking for great Multi units and Flips in AL and GA....also a licensed agent in both states since 2016..Woop Woop!!!...