All Forum Posts by: Arthur Rivera

@Debra Grumbach I highly value your input thank you.

@Mike Wright i'm going to get another appraisal when I finish renovating. I'm definitely looking into a wrap as a possible option thanks!

@Jd Martin the kitchen and bathroom have both been remodeled the only thing I have left is the master bedroom upstairs still needs a new ceiling paint and I am doing laminate flooring the second smaller bedroom upstairs flooring is almost complete other than that the rest is light paint in two rooms downstairs. I know that doing it with the kids for a month sounded unrealistic but it was the only way we could still work on the house . We bought it for $6300 and there was a desktop appraisal at $30,000 that's before I did the repairs,which started at the end of May this year. a lot of the remodeling was done when we lived there. thank you for your input.

thanks for your reply @George P. I am starting to lean that way but my question is how do I get the HELOC paid off,from the sale of the house? I'm still really new and I don't know exactly how that works.

Hello Bigger Pockets, I am fixing up our old house in Detroit dated 1916 a couple miles south of the Ambassador Bridge (Mexican Town), I took out 60% of a HELOC which comes to about $20,000 for Rahab which is 90% complete I also used part of the funds to slingshot us out to Farmington Hills for our new primary residence. I'm running out of time & money. It's been hard because I am renovating it myself along with my wife and our three kids four, two, years and a 6 month old for the past month which has been pretty grueling to say the least. I am on the fence about either selling the house and the only reason I'm thinking that is because I know fall is harder to get a renter. I really could use some words of advice if anybody in the BiggerPockets Forum could chime in, it would be greatly appreciated. I do have more details but I didn't want to write a short novel ;-)

@Curtis Harvey sure I have no problem sharing where we're at so far we're actually still in the first quarter of our first cycle which would make it around three months and the process of a one-year service from fund & grow. We were set up in a week as, far as the structure for a business yes I have had a prior business for about six years so I was more established than other people I have met in the same program. And no it actually wasn't real estate it was from my Technologies company, but that can be easily restructured there is a lot of Education that they do pass on. It is pretty interesting to understand how these Underwriters actually work as far as business lines of credit well long story short within our first month we were at $29,500 with 0% interrst and that was our first batch many more to come my representative is very responsive and answers any questions we have along the way. If anybody has any questions please feel free to contact me I'm more than willing to help and would like to Network, hope this helps!

Me and my wife also went with Fund and Grow they are the real deal. with them having Underwriters and POAs in place to work on your behalf it is definitely worth the flat 3500 rate for one cycle which is equivalent to 1 year you can continue after that, their process and education is pretty thorough Jorge is right! They build up your personal credit and your business line of credit and also structure your business for banking purposes to establish all of this...Please note this is a process if you have prior business in place it goes faster but at least if you start you can begin to establish a BLOC

Could anybody point me in the right direction for a insurance quote on a manufactured home in Farmington Hills , MI

I have the report which was very thorough  ,but he couldn't supply number's. I take it I should find an inspector that can do it right?

Thanks, for reminding me about Xactimate. I usually think about insurance adjustments. But that is a solid answer thank you!