All Forum Posts by: Kunal Mishra

@Jimmy O'Connor How are you. Hope all is well. 

I am dealing with this situation right now in Philly. I am under contract and turns out there is a couple squatters in the house, so I cant even take my contractors for rehab bids. I am being told that squatters have legal rights in Philly. 

We have the city inspecting the house this week and they will post a non nuisance notices only after which we can get assistance from local police to get access to the house. 

All,

Aside from the military base, what are other sources of income in Fayetteville

Thanks

@Gerrett Houston

Yes you can include them.

Sometimes , and it depends on the bank that you are financing with, may allow a limited number of sub-contractors, say you already have a HVAC and a second GC taking care of everything else and then you add an interior designer plus an architect will take the total subs to 4. If that's the case , just confirm with the bank.

Else you should definitely be able to roll those costs in.

Thanks

Kunal M.

@Jared Bourjolly

I know this is a year old post. But did you manage to buy in Strawberry Mansion?

Hello,

I am under contract for a three unit investment property in Philadelphia, PA for buy and hold. 

Are there any lenders or small banks that can do a conventional renovation loan in Pennsylvania, wanted to ask it out here on BP before I turn over to HMLs

Thank you,

Kunal M.

Hello, 

I am under contract for a three unit investment property in Philadelphia, PA

Are there any lenders or small banks that can do a conventional renovation loan in Pennsylvania, wanted to ask it out here on BP before I turn over to HMLs

Thank you,

Kunal M.

@Nitin John Abraham

Try reaching out to Shawn Huss from Chemical bank. You should be able to look him up. I haven't financed through him yet, but will surely do sometime this year.

They are a commercial bank and do small loans as well.

You might be able to bundle your existing loans into a portfolio loan or go past the 10 loans limit.

Thanks

Kunal M.

@Brian Eastman

Doesn't the IRA have something called as UDFI taxes when you buy from the IRA. I thought that could take some hit on the income.

I am researching if solo 401k is a better option?

@Ralph Miller

I see you have already received feedback that the price is too high, you can't be paying anything above $5 including labor and material.

If I may ask , the lease is till June 2021 the rent is only $600 , why do you need to do this now while the unit is occupied? Are you expecting higher rent from the same tenant?

Thanks

Kunal M.

@Justin Franklin

Try reaching out to Shawn Huss from Chemical Bank

You should be able to find him if you Google.

In which state is the property.