All Forum Posts by: Ekta Patel

@Omni Casey

So great to hear this from you. I have question for you as you are experienced investor. I'm under contract for 2 houses and looking for business loan for one and conventional loan for another one at the same time. Business loan are 20% down and 15 years ARM with 7 years fix rate. I never had Business loan so Is there anyway I can get 30 years or 15 years fixed rate ? I called so many banks but mostly all have 5-7 years fix then variable interest

@Ashish Acharya

Thanks Ashish

I was under contract for a vacant house, previous owner who was also investor started renovation and passed away due to Covid. During inspection, we found foundation issue on concrete slab house, water turned off so can’t check for any leak, can’t find sewer clean out, can’t check if toilets are draining properly. Glue down vinyl floor popped out so many places. After all the work, I don’t see this could be good deal.

Foundation repair 6 k

Electrical work 2 k

Cash purchase price 95k

Unknown cost of sewer and plumbing ?

ARV around 150k

All new Samsung appliances, recently painted, new roof, new HVAC

House build in 1956

Good Neighbourhood where I could find

travel nurses

Anyone has idea what could have done to save this deal?

Hello investors, I purchased the property in tax lien sale in March but it requires more rehab than I can handle. Now it’s under contract for sale. I’m getting some profit out of it. Is there different tax bracket if I sell it within 6 months of purchase than after 6 months of purchase date?

I’m an investor and have 2 agents told me foreclosure house are not good choice to buy. It takes a lot of work and still no guarantees that it’s going to close on time on closing table. They reluctant to show foreclosure properties, and just forget about putting an offer. Wonder why?

@Jeffrey Donis

I just DM you

@Chad Keilen

Where is it?

@Evan Tom

I’m going through same thing. Tenant cloud is cheaper than others like buildrium. Seems like easy to use also but not sure how good is there advertising for rental is. Looking for good lease agreement on room rentals. If you find out something pertaining into this area, let me know. I would like to connect and network with people doing same kind of real estate investments

I'm going to close on new construction, where I know that title is clear and I know builder and seller personally at some extents. Planning to refi into LLC after 3-5 years since it's investment house for college students room renting. Is it ok for opt out on owners title insurance? I'm still paying for lender part at closing and closing cost is almost 6K for 260k house. Is it wise to save 700 bucks on title ins and get it later after refinancing into LLC ? Please advice as I'm 2 days to closing date

@Elijah Brown

Great story. After 3 deals under my way, I’m looking for multi family to scale properly. But it’s lot to learn and will get there soon