All Forum Posts by: Joshua Feasel

@Andrew Kerr Thank you for the insight! it makes sense!

@Andrew Kerr can you see the pic? I am not sure how to report the link. 

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Hello, I found a off market deal and ran some analysis. House is 990 1 bedroom 1 bath and was built in 1930s.  rent will be $700 starting 6/1/2018. I looked it up and it is a bit higher than average in the area. therefore I put down average rent $500. tax is $569 in 2017. 

Please let me know what you think. 

If I sell a product or multiple products to a 5013c non profit organization and they aggressively ask for my Social Security number for “tax purposes” is this normal? What if I don’t feel comfortable doing this ? Can I give them something else Incase they “get audited”? I don’t fee comfortable giving out my social security number to anyone , honestly. This is private and sensitive information...

it's worth a shot right grant ? You don't know until you put that offer in and try to meet your criteria you set out with 

Banks flipping houses except not flipping them and taking advantage of the sellers market and sky rocket crappy arse properties . Pathetic. 

Hi Nghi, great advice! Yes I was thinking about brrrr and flipping.

Originally posted by @Nghi Le:

You need to provide a little more context in what you're trying to do. It sounds like a BRRRR since you mentioned refinance. And I'm assuming it's a residential 1-4 unit property?

Most people don't use banks because either the property doesn't qualify for it (i.e. really bad shape) or they themselves don't qualify for it (high DTI, lack of W2, bad credit, etc). Another reason might be they're in a competitive market, and cash offers with a 2-week closing window usually beat out the 30-45 days needed for a bank loan. Or maybe they're buying a wholesale deal off-market, and banks don't like the fact that an assignment fee is involved.

Hard money is more expensive, but usually gets the job done quickly.  Sometimes you can also pay less down payment going through a hard money lender than a bank.

Of course, all of this is assuming it's a non-owned occupied investment property.  If it's going to be owner-occupied, hard money isn't an option and you'll have to do a bank loan, private money, partnership, etc.

It is goig to be brrrr and flipping. What do u think? Originally posted by @Eric James:

Is this going to be a brrr, flip, or something else?

When a bank owns the Home, can you still get a good deal on it? How can you estimate how low of an offer the bank will accept or deny ?

Want to know some honest option about getting a mortgage for the first deal. I have heard it all the time that people uses private money lender, hard money lender, partners for funding a deal. But never really heard people use mortgage. 

Now my question is, is it worthy to use a mortgage for the first deal and get it refinance? Is there some sort of limition on this method? What are the pros and cons?