All Forum Posts by: Jerome Foster

When calculating for the 1st part of the LOAN - Rehab, Holding time before Refinance, etc.....should I use 1yr (see below) for the AMORTIZE period.....

I am having problems with my Cash on Cash ROI return.....  I get INF%....and, I think I am doing something wrong with my DATA entry.    Please help......

Property ARV 135K, 52K purchase price, 15% down payment, 30yr loan

I would like to know some advice of proven strategies for bidding on REOs. As stated, this point in the process is when the BANK has purchased the property back, due to NO SALE at auction. Now, they have placed on MLS, for more attempts to sell. However, pricing is set to "get their money back".....

What calculations, analysis, etc.....(suggestions), should go into my starting offer....?  What are the minimal POINTS to consider......?   Of course, I will do my "due diligence to get info" with realtor agent, however, I know that they are looking for "ASKING PRICE". 

I don't want to waste my time, or realtor/banks time, but need to be FAIR - to get considered.

Once I do my analysis, I want to have a bidding range - HIGH/LOW (including at least ONE counter-offer), then start my efforts to secure funding - based on my parameters.....with BEST/WORST case for $$$$ amount.

Thank you Stephanie.....!  I thought this would be done (averaging), but unsure.   I didn't know that there was another MODEL, but I am learning more each day.... 

I would like to know if anyone knows a good FREE credit score option (website, etc) needed for funding with hard money organizations.  I want to get a report from 3 companies (presumably).  Or, which company do most HARD MONEY lenders use to evaluate credit score.....  I don't want to hurt my credit score by doing multiple inquires.   Do lenders take all 3 reports then take an average score before determining rates for investors?    Please advise....