All Forum Posts by: Jacob Sloop

Welcome!

Hampton Roads/ Norfolk is a great market to be in.   I sent you a message 

@Ian G.

Off market doesn’t equal a good deal.

A good agent can guide you and even evaluate something that’s off market and have the commission added to the sales price or some other arrangement

I see most deals in my market trade in the MLS

That being said door knocking is always a good strategy

Calling for rent signs

Not sure how the idea of having the listing agent represent the buyer became a trend in the REI world but in my , perhaps biased opinion, it's a bad move.

They potentially don’t have your best Interest in mind by the nature of that transaction. It’s hard to satisfy both parties ..

This is more reserved for much larger transactions it seems, commercial Multi-family ,where all parties are sophisticated buyers and seller and you can have the broker represent both sides..

@Olivia Di Dio

Welcome !

And congrats on the love in flip, I love that strategy.

I’m in the Hampton Roads / Virginia Beach area and would be happy to help if you have any questions about the area

Appalachia / Shenandoah area is one of my favorites !!

It completely depends on the terms...!    

5 year balloons are common in commercial multifamily..

What is the property type?  If you don't have confidence in its value in 5 years than don't buy it, simple.

This is where an agent can help !

Please have someone runs some comps on this deal, we have no idea of what the ARV( after repair value) is, what rental comps are etc..

Yes , its smart to have the refi figured out ahead of time, although that's not to say terms and rates aren't going to change so be aware.

Id recommend finding a mortgage broker, they can do the shopping for you.

Also, there was a guy on the podcast from Lehigh Valley,  I would try to find him,  I remember it being a particularly good episode

Sorry to hear that,

Have you talked with your hard money lender about this?

Is it possible to extend?  They will usually accommodate but its going to cost you

Welcome !    Start hitting the books !    Bigger pockets publishes some great material for starters 

Thanks for sharing @Kris Haskins