All Forum Posts by: Brian Holt

Welcome @John O'Hara, lots of good info here. Best of luck!

Thanks @David Krulac!

Thanks @Derek Lukas. I went to my attorney to have the title searches done, but I'm sure a title company could as well. Your county may have also performed them, but I felt better about how thorough my attorney would be. I'm looking forward to getting inside the houses and will definitely share how it went.

Congrats! Incredible accomplishment.

It's only viable if the property cash flows enough to at least cover the new payment, or you are rolling those additional funds into another property where combined cash flows will cover this debt and any additional debt required. Unless of course it is an equity play and you are willing to cover any shortfall out of pocket because you are planning for significant appreciation, forced or otherwise.

I have bought and I have built, and I would echo many of the comments above. Buying is definitely more cost effective, but building will allow you to get exactly what you want. Differences in loan is very dependent upon your area. If there are developers, some may build with a down payment and allow you to close with a conventional mortgage. In some areas if you are buying land somewhere and building you will need a construction loan and then have to flip that to a conventional at the end of construction.

Northumberland county, Pa. It was surprisingly well attended and went very quickly. I managed to buy 3 homes which I will give more detail behind once I am able to walk the properties. That may be a while though, 2-3 months to get the deeds.

Great to hear! Best of luck on your first deal.

Very nice, well done!

The best I have found was a small local lender who would allow an 80% loan wih 10% seller finance and 10% cash from me. Generally conventional lenders are looking for you to have some "skin in the game" so to speak. I don't have experience with money gifted from a family member, but may be worth making a few calls to some local banks. Good luck!