All Forum Posts by: Dave Robinson

Thanks so much for your reply, info and invitation to connect, Michael. I am grateful. 

I know the house well--I renovated it for her in April 2014 so it would be up to date (except for the kitchen) for her final years. In fact, we wanted to buy the house upon her death, but the month before she passed away, my brother in law asked if I wanted to buy his parents' house since they will move up to be with him. We agreed and began an extensive update to that house, and it's 4 bedrooms vs. 3, so it's better for our family of 6. We thought about flipping it and buying the Gilbert house anyways, but the Mesa house will be wonderful for us because of the size.

I'm learning a lot reading your stories and tips and advice. This has been a very helpful community; thank you!

A family property has come my way, and I can buy it for 5% under appraisal from the reverse mortgage company. We intend to renovate and sell, but would like to buy it first to capture that extra 5% ($10,000). We could come up with renovation costs and 30% of the property value. The house was renovated less than 2 years ago so the renovation is simply a fresh coat of paint inside and out, new carpet in bedrooms, new kitchen cabs and appliances, and turn a hall bathtub into a shower/bathtub. 

What are the particulars about a simultaneous closing? Is there hard money out there for a short time period? What costs, aside from interest rate, are associated with hard money?

Thanks in advance,

Dave