All Forum Posts by: Danny S.

@Ohad Waizman PM me

@John T. I'm sorry to hear the challenges you've gone through. I actually just had a new a/c condenser unit installed at my rental - inbox me for my POC who did a great job. In addition to replacing the unit, you'll want to install a concrete pad with a couple of rebar posts if a pad doesn't currently exist so you could lock down that thing.

@Account Closed $85k would include converting over the space to a garage in addition to rehabbing the rest of the house. Without garage conversion, rehab would total $50-$55k.

Hi all,

I have a "deal" that has been presented to me and I would additional thoughts and perspectives regarding the terms and such leveraging seller financing.

The property is a single story, SFH 4br, 2 bath (no garage), rehab is $50k.... $85k which would include converting a space to a 2-car garage which would become a 3 bd, 2 bath. ARV w/o garage is $330k, with a garage is $350k.

Seller wants the terms below:

1) Price $210,000

2) Down payment of 20% - $42,000

3) Interest rate - 12% per year, paid monthly

4) Term - 6 months, but can extend for 6 more months for fee of $2,000

5) Personal Guarantee

6) Owner to draft documents, run credit credit, etc.

As usual, I'd have it inspected, run title, and obtain an appraisal.

Thoughts?

Hi all!

Has anyone had luck over the last couple of months cash-out refinancing for 30 years with a lender on a SFH that was purchased through an LLC?

What a way to end the year. Congrats to you and your team!

@Jeremy Johnson Congrats to you, sir. I'd like to here the details behind the deal. Thanks!

@Jason Cooper Hi Jason - Like you and your wife, I'm starting out as well with goals to purchase enough buy-and-hold properties to retire from my W2 job. Great credit score, cash reserves and networking/building your team are what I've learned to be most important starting out. Hope this helps and best of luck to you!

@Oke Tammik how long is the duration for those forbearance programs typically?

@Joseph Colliu Do the units have their own water meter to pass the $50 cost to the tenants?