All Forum Posts by: James Grant

 I meant to say a private Lender. Since most Hard money lenders will not go under 75k for the purchase.

I have been trying to network as much as possible locally. Meetups locally are few. I have only found 1 that happens maybe every month. The 1 investor I have been able to sit down with is more of a "traditional"investor. And I showed him a deal from a wholesaler that i thought was a homerun. 3 doors total, 2 need light/medium rehab, 1 full rehab. For under 60k. Today was the last day the wholesaler was accepting offers. And closing is 2 weeks from tomorrow. The investor I talked with feels this is all way to fast. 

So I am trying to learn or understand the actual process buying from a wholesaler. The wholesaler has been a bit vague on details. After speaking with him I am a bit discouraged along with not being able to find a private investor, since hard money won't loan to this low of a purchase price and traditional is a no go.

@Alecia Loveless thank you for the reply. 

After I posted this I started digging more about it. Alot of people seem to have trouble in the appraisal process and with finding comps. I can't find any exact comps out here. But obviously there are several comps for the houses separately. I am just worried about finding the proper refi loan after the rehab is done. Since this will be my first BRRR.

Would a DSCR loan be easier in this instance also, as another option?

I am currently looking at a property that has 2 Different houses on it under 1 title. How difficult will it be to get them both appraised and a Refinance loan after a BRRR?

@Timothy Howdeshell Thank you for the reply. Very useful information. I am also going to do light repair/rehab work myself. but keep the major things with the "pros"

Newbie here. How does one go about estimating Rehab/Repair costs? I do own my primary residence. And know some prices based on my house. However my house was move in ready when I bought a few years ago. So I do not know about Medium/large Rehab costs the most I have done to my house are small repairs and new appliances. I'm looking to BRRR my first property, which is hopefully a duplex or 2 doors. My goal this year is 2 properties.

Since I am a newbie, I am unsure of the right questions to ask. Currently own my primary residence with a small amount equity, but that's as far as i have gotten. I have been researching properties and may have found one that is currently being rented out and being sold by the owner. Would this make getting a DSCR loan easier as a newbie, if the numbers are right of course. House was recently updated 2-3 years ago. The current rented amount seems to be about at the median rent for the area. Any help and knowledge is greatly appreciated.