All Forum Posts by: Benn Albrecht

@Michael Cohen I just spoke with him and he said I should be able to close my the end of July. He also said this seller usually gives an extension of a couple weeks if need be.

I was not able to get an inspection until contracts were signed which is why I don't have any bids yet.

How long should it take contractors to get me bids ?

@Michael Cohen I meet my inspector tomorrow morning and will have the contractors bid right after. Any advice on that?

@Vinod Dasani Thank you, great advice. I was just worried about the per diem... It says $100 per day after July 24th...

So if my closing runs over a week they're going to charge me $700 ?!?!

@Alex Deacon @Vinod Dasani Okay so I will speak with my mortgage officer and get a date they expect they can close by and if it's after July 24th I'll ask my attorney to contact the seller ?

Thank you

I'm in contract to close before July 24th...

I just submitted my 203k loan app. today and uploaded all necessary documents. 

My inspection is tomorrow 10am.

I'm just a little worried that it will take more than 40 days to close.

Is there anything I can do to speed up the process ??

Thank you !!

@Josh Bast Any property is work the investment

The only question is at what price

Do not overpay for a property

@Ryan Clayton Get Pre-Qualified first and see what you are able to afford based on your income.

Your income from the property is way off. Your not including PMI or insurance on the property or taxes. I'm not trying to be discouraging, but that's just how it is. It all seems great when you think about it like that, but that's not reality. What if you cant get the units rented ? Are you going to hire a property manager while your a full-time college student ? If so take another 10% off that income. Again I'm not saying it's not possible but be more serious before you ask for advice from BP