All Forum Posts by: Scott E.

I can't speak for an industrial building but I've worked with several historic residential homes built similarly out here in AZ.

In fact the home I live in was built 65 years ago and has a lot of exposed block throughout. No insulation on those walls. And we are comfortable here year round (in the winters it can get into the 30s at night, and in the summers it can get to 115 during the day).

According to google it looks like the weather in Asheville is more mild than where I live. So my 2 cents is that you might get away with leaving that brick exposed.

It's 46 degrees in Asheville right now and got into the 30s last night. How does it feel in the building right now?

Look at DSCR financing. The LTV will be limited by the debt-service-coverage-ratio. But if you expect to bring in high rents on this property (relative to the payment), then you should be able to get to that 70-80% LTV range on your loan.

If you for sure plan to eventually do an addition and update this to a 3 bed 3 bath house, then why not update the septic system now to accommodate. You'll get the benefit of being able to call it a 3 bedroom for now, and you'll have the septic situation out of the way when you are ready to do your addition.

(With that being said, 1 bathroom for 6 guests is not good. So you will want to be crystal clear in your listing description so that there are no surprises and bad reviews that come of this in the event you get a booking from a party of 6)

A lot of optimism in the comments above.

I personally think that it is a very sketchy time to be buying deals, especially for a new house flipper.

The market hasn't picked a direction yet. Meaning we could be flat the rest of the year, we could see a small recovery by year end, or we could see values drop another 15% by year end.

If I were in your shoes I'd read some more books, spend some more time on BP, and build up your network/team of real estate agents, contractors, designers, title company, lender, etc. Then plan to re-evaluate around summer time.

Very confusing post. But if you want to exist debt free, just pay cash and buy a house with no debt.

Yes, this is possible and fine whether you live in a community property or common-law state.

 Date the rate but marry the property. Never heard that one before but I love it!

Gotta love all of the people in the tiktok comments who are not landlords, but hating on landlords.

What market are you in?

Your home equity is the difference between the value of your home, and what you owe on your mortgage.

So for example if your home is worth $500,000 and you have a loan on it with a balance of $350,000, then your home equity is $150,000. Or in other words, you have $150,000 worth of equity.

A negative equity situation would be if your home was worth $500,000 and you have a loan on it with a balance of $550,000. In this example you have negative $50,000 in equity. Meaning if you sold your home, you would have to come out of pocket $50,000 at the closing table (in reality it would be even more due to commissions and closing costs).