All Forum Posts by: Erin K.

They are definitely out there. We just closed on a duplex we found on the MLS. Listing said sellers were highly motivated. We looked at it and calculated repairs (pretty minor overall). Less than a week after listed, we made an aggressive offer of $24k below listing price and much to our surprise, they accepted it. Property appraised for the listing price so we have significant instant equity. Plus, it's going to cash flow very nicely. So....keep looking - the deals are out there!!

@Geoffrey Schnake - I would be interested to see a picture of a room with the color combo you are talking about if you have any.  

We have an established relationship with a local portfolio lender and only have to put 15% down, with the balance of the equity being a result of the ARV. So for example, we closed on a property 2 weeks ago that we bought for $45k and the bank is giving us a line of up to $15k to do repairs to the property. Their appraiser did the appraisal based on what he estimates the value will be after our stated repairs are done. So we paid $8k at closing, which was 15% of the purchase price plus closing costs. The property appraised prior to closing at $72k ARV. So we paid about $6k (plus closing costs) toward equity and the bank also has an additional $12k of equity based on our repairs. So the bank is happy because the loan ends of being 75% LTV, but our actual out of pocket was actually much less than that.

I say all this to make the point that once you have an established relationship with a lender, there are lots of options to make deals happen without a lot of cash outlay. We will close this week on another property that we are getting a great deal on, so we are buying into equity. We will be putting only $5k down on this package deal for a SFH, a duplex, and a very nice mobile home. Bank is happy because again ARV came back with lots of equity due to the value of the property relative to the great price we got them for. FInding great deals makes the financing a lot easier if the bank knows you. Good luck!

I can't get it to work on my iPad at all anymore - it crashes when I try to open a post. I reinstalled but it still won't work.

I wouldn't accept that answer. Ask more questions. Treatment if there are not active termites does not make sense. There may be necessary remediation from the damage they already did, but treatment doesn't make sense.

Here is our go-to kitchen color - Restoration Hardware's Silver Sage.  I love this one!  

Thanks. We usually use the snap-together vinyl plank - I bought 1,500 sq ft on sale at Home Depot on Black Friday - LOL. This particular house, however, is a bank from the late 1800's, so we sanded down and refinished the original oak (I think - def a hardwood) floors. They are gorgeous.

Our hallway, living room, and bedrooms colors are Benj. Moore's REvere Pewter for walls and BM's Dove White for trim.  I am posting before and after pics from a recent reno.  The pewter color looks darker in this pic that it is due to the lighting,but you get the idea.  Good luck! 

Here is a before and after of our last renovation. Top pic has our go-to color on the walls - Revere Pewter by Benjamin Moore, with Ben Moore's Dove White for the trim.  I think the contrast with white trim and color on the walls makes an incredible difference in the "warmth" of a room.  For kitchens, we use Restoration Hardware's Silver Sage color. I will see if I can find a pic of that and post it below. We get lots of positive feedback about out paint colors.  Good luck!  

Oh, and I forgot to mention....our local True Value hardware store can look up the formula on their computer so they can make the expensive companys' paint colors in their generic brand paint. Looks the same but a fraction of the cost of buying Restoration Hardware paint for example.