All Forum Posts by: Ashia W.

This is nasty.

@Matthew Marcelissen, good luck!

Is it normal for ARV to be less than the costs to buy and rehab?

@Brian M Sweeney, thanks for the response and filling in the extra information with @Jay Hinrichs and others. And congrats on your portfolio. I'm a newbie, so I do a  lot of reading here on the forum. I like the way you acquired your properties compared to many others. Congrats and thanks again for the insight. 

So, you started with 21k of your own money and a great deal on a property. Did you save intentionally for purchasing a property? If so, how long did it take to save it all? 

Thanks for the information, Costin!

edited to remove post. misspoke. 

Stephen, this is great information. Thank you for sharing! I am not currently looking into these types of investments, but this is great to have in the back of my mind. 

Nghi, thank you for your insight. I will definitely inquire tomorrow. I was concerned that since I wasn't buying the home I wouldn't be able to mortgage it. And no, I am not staying there. I plan to rent it and get that cash flow. 

Peter, I will also look into a commercial construction loan as well. My concern with that was the term length. If it's too short, the numbers won't work in my favor. However, since you suggest it may be a viable option, I will do a some research on this option too. 

Thank you all so much for your advice and time. 

@Nick C., thanks for your reply. I'm a bit confused by your answer, though. Are you saying I can, indeed, find a HML that will lend for the rehab only? And upon completion of the project I can get the loan refinanced to a traditional mortgage?