All Forum Posts by: Khari F.

@Scott E. Hi I picked up J scott book but Besides getting hands on experience - what tricks did you learn for getting more accurate rehab costs?

@James Dainard Hi is 0.25 - 1 mile and 3 months the standard comp for volatile market? < 30 days on market. 

How do you establish your home as a primary residence for two years with IRS for capital gains tax exemption? Especially if not two consecutive years 

@Caroline Gerardo Hi Is there a govt database of contractors w experience with 203K? Would I add extension clause for any delays?

@Paul Welden Hi what are the benefits to the Seller?

Hi

I’m currently speaking to a couple contractors - What is the standard contract?

can contractor file lien for work down without a contract or for work not approved and outlined in contract?

I'd share the risk with an experienced rehab partner -you secure the capital. they supervise the project. other than that id worry about holding costs.

you may first walk property during inspection to prepare your own scope of work (SOW) based on the inspection and send video/photos to contractor to get ballpark quote and only ask them to walk once under contract. Contractors will tell you what you want to hear - always expect it to cost more and take longer and add a generous contingency (10 to 20%) on top of your contractor's bid to account for the unexpected. contractors who have time to walk property with you for property not under contract many not be best contractor

@Jeff Copeland hi I always thought assumable meant first position - since you are taking over (taking off their hands) the original that was in first. how does second come into play?

my first thought is using equity to avoid cap gains tax on sale. i would use heloc if i didnt have immediate plans but wanted to be ready