All Forum Posts by: Gordon Cuffe

@Fillipa SimoneYou will need to repair the foundation in order to get a conventional loan. Get a estimate for all the repairs including foundation and see if the deal makes sense. A hard money lender will want to see the estimate before they lend money to you. Once the property is all repaired and rented out then you can refinance out of the hard money loan. You can always PM with any more questions about financing a fixer upper property. 

@Paul Saechao If your going to rent it out then a property manager is your best bet for boots on the ground. They will put a contractors lockbox on the front door so they do not have to be there every day. They can check on the progress once a week. They can be the person to meet for an appliance delivery if the contractor is not working at the house anymore. 

@George Adkins I think only you can decide where you want to live. I am a investor and mortgage broker in the Sacramento area so if you ever have questions, just send me a message. I like living here but I invest out of state now. 

@Jonathan AlmanzaI still have a lender that does down payment assistance plus gives lender credits for people qualified. A person needs a decent credit score at 680 or above to get the dpa . You can pm with any questions. 

I think some realtors should be called secret agents because you cant find them. I have called, texted, emailed a couple agents and received no response. 

@Laura WilliamsThat is the worse thing I have ever heard a so called contractor do. I hope you dm me his name so that I can avoid him. I own properties in the Kansas City market so I would hate to accidently hire him. 

@Ron S.The listing agent will come up with a value based on comparable homes sold. He will get the current loan balance from the homeowner. If the current loan balance is higher than the estimated value then it is a short sale. 

@Ron S.properties listed on mls in CA will say short sale if they are a short sale. The listing agent is required to tell potential buyers when the sale of the home is a short sale. A house might be listed at a certain price on a short sale and the bank has to approve it. The bank might not approve the listed price so the buyer needs to be aware of that. 

@Kathryn MoreaDont tell too many people about this city. Look into the Lakeland FL area. Half way between Tampa and orlando. Lower prices than those two cities. Population growth along with job growth 30 minutes away. A few baseball teams have spring training games in the area.

@Jason Holloway There are many fewer seller financing oportunities compared to traditonal sales. That is because most sellers want the funds to buy another property. If you find that one seller who just wants a fixed income from seller financing then go for it. Just use a title company like you would for any traditonal sale. Owner occupied owner mortgage rates are in the low 3% range so at least you have that to look forward to.You just need to get pre approved by a lender or broker then start looking for properties.