All Forum Posts by: Debra Grumbach
Debra Grumbach has started 3 posts and replied 190 times.
Post: Understanding FHA income levels
- Frisco, TX
- Posts 201
- Votes 95
Originally posted by @Arthur Voskanyan:
Thank you for that Lynn for that information but I'm referring to more things like, does it matter how much you make to qualify for a FHA loan? If I make 1,000,000$ vs 50k a year, will a lender deny me if and say you need a conventional loan because your income is too high?
No.
Post: Can I use a loan to pay for down payment for a FHA Mortgage
- Frisco, TX
- Posts 201
- Votes 95
You cannot borrow the down payment AFAIK. Plus borrowing it would affect your DTI ratio.
Post: CapEx, Maintenance, Vacancy, and Misc Question
- Frisco, TX
- Posts 201
- Votes 95
Originally posted by @Phil LeNeveu:
@Jason G. thanks for the input Jason - i will probably open up a separate account after all. If the property has been more or less fully rehabbed does that change any of your assumptions?
Fully rehabbed you can maybe reduce what you set aside for CapEx and maintenance. Maybe.
Post: Subject-to Documents / Contracts
- Frisco, TX
- Posts 201
- Votes 95
@Drew Shirley sent you an email. would appreciate a copy of the contract you use!
Post: ONE major change the house needs is putting me over budget...
- Frisco, TX
- Posts 201
- Votes 95
I can't stand those sunken living rooms personally. Seems around here there must have been a time when they were "all the rage." Like orange shag carpet I'm glad that is no longer the case. At least carpet is easy to replace. I guess you need to know your market. What happens with other houses with sunken living rooms like your house?
Post: Under contract, am I blowing this deal?? Help!!
- Frisco, TX
- Posts 201
- Votes 95
that's quite a range of rental rates.
Post: Use a realtor or just post on MLS with flat rate listing?
- Frisco, TX
- Posts 201
- Votes 95
Realtors can do more than just post it on the MLS. What else does the flat fee service offer you? Do they provide a lockbox and signage for the property? Will they coordinate all the showings? Help you negotiate the contract and the process? As the seller you have a number of things you need to obtain prior to closing in MA, certificates, etc. DO you know what you are doing? Can you stage your property and get great photos for the listing? These are just a few of the things that a GOOD realtor can do. A GREAT realtor actually has respect of their peers and their listings get shown more because they are good to work with.
Post: Phone number - local or not
- Frisco, TX
- Posts 201
- Votes 95
Originally posted by @Mitch Messer:
Hi @Debra Grumbach. I do believe local businesses have an advantage over those that are clearly "not from around here." I don't see any benefits to marketing a non-local number.
Fortunately, there's a fast, simple and free solution: Get a Google Voice number and forward it to your 978 number. Assuming Google Voice still has 972-code numbers, you could have this matter resolved in the next few minutes.
I've considered Google Voice but was wondering if that even sounds professional. I recently had to call someone who had a google voice number and I thought it was pretty odd. Is there a way to customize the message that says "google voice will connect you" or whatever it says.
Post: Possible first property. What do you think?
- Frisco, TX
- Posts 201
- Votes 95
Only $10K on a rehab for a 3BR that you *think* will be worth 100K ARV?
Post: Phone number - local or not
- Frisco, TX
- Posts 201
- Votes 95
Just looking for a general opinion here. Do you think it matters if you have a "local" phone number as a real estate wholesaler or agent? My current phone number is 7 years old and has an area code of 978. Not local. There is however a local area code of 972 and yes, I have had to repeat my area code since moving here to make sure local businesses don't input the wrong phone number on my account. That doesn't really bother me so much. I am slightly concerned that someone may pick up one of my "marketing pieces" or what have you and write down my number wrong or simply disregard me because my number is obviously not local. Am I over thinking this? Should I change my number or keep it?