All Forum Posts by: John Frala

I found a house in So Cal that is a flipper in al sense. Never had a remodel since 1978 and is under valued for the neighborhood . Cost is $500k and ARV is around $1.2 mil. Comps around it are $1.8 Mil and up. Great school district. Where could I find a construction loan, and what should I look out for in this loan? I need about $120k to fix up the house.

I have heard of getting the seller to agree to a higher price at sale and the balance goes back to the buyer at closing. Is that a bridge loan?

How does a bridge loan work and what is the difference in a construction loan verse a bridge loan?

How do I find out information on using my 403B savings to invest in real estate?

Investment Info:

Single-family residence buy & hold investment in Kokomo.

Purchase price: $305,000
Cash invested: $38,000

First deal and learned a lot on this one

What made you interested in investing in this type of deal?

Looking for investment to hedge retirement

How did you find this deal and how did you negotiate it?

Realtor friend

How did you finance this deal?

Private money

How did you add value to the deal?

Up Dated property

What was the outcome?

Complete make over including rotted clay pipe to street. Now have top rental in area.

Lessons learned? Challenges?

Be careful who makes you promises, especially out of state where I have no control.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Property management company questionable.