All Forum Posts by: Luke Boff

Looking for some insight on what it takes to convert a sun room into livable sqft. To explain a little bit. The sunroom is all windows on three of the walls with the forth being the back of the house. The sunroom was an addition to the house. What would need to be completed in order to list the property with the extra square footage?

I have been stuck trying to decide the best way to purchase my first investment property. I really like the idea of BRRRR but funding the deal is what I constantly get stuck up on. I have a decent amount of personal funds from savings as well as a HELOC on my primary residence. Off the top of my head I would like to use a conventional loan but when I tell the lender that I plan to refinance within 6 months or less they tell me that I won't find any lender that will allow me to do that. On the other hand do I use the HELOC and personal funds to purchase a smaller property, renovate it and then refi out. Using my personal funds could tie up a lot of my capital for an extended amount of time. Any and all advice is always appreciated!

Good morning and you are appreciated!

I am currently researching sheriff sales in columbus area within Franklin county. I was told to search the recorders website with the owner of the properties name to look for any additional liens that could be against the owner/property. What would be some major red flags on the recorders website to look out for. Any and all information about sheriff sales is always greatly appreciated. Thanks!

Yeah most hard money you have to put 10-15% down. I know I could go the conventional route but I am concerned that some of the properties that I am interested in would not qualify for a conventional loan due to their condition. Also, I like hard money right now because I can submit the offer as cash which is way more competitive right now than financing the property with a traditional loan. 

From my research I believe if you go the LLC route you will most likely have to use a commercial lender. With commercial lending they typically have higher rates but they all are ARM which I personally do not like mainly because I don't know how to manage the risk that is associated with them.

Good morning everyone. Over the past couple of weeks I have been reaching out to multiple different hard money lenders as well as conventional lenders. I am a new investor with about a year of real estate experience as an agent. My wife and I are looking to invest within real estate between fix and flips and fix and hold properties. We have completed a renovation but it was on our primary residence which no hard money or conventional lender will consider experience. What I am hearing a lot is that I need to team up with a already established investor in order to obtain financing for a fix and flip. Are their any companies out there (hard money or conventional) that have programs that tailor to this situation? Also, if anyone has any advice for financing your first deal that would be greatly appreciated. Thanks!

How would it work if I were to purchase a rental property that the owner does not have a lease agreement for. Owner clams the tenants have lived there for 7 years and that they pay on time. What steps or documents can I bring into the deal to protect myself in this situation?

My plan currently is to write up contact with it saying something along the lines of whatever I pay out of pocket there will be a 30% increase for her purchase price. So if I am all in on the property for 70k I would sell it to her for 100k just so I can cover closing costs and commissions. So plan b would be to list it and sell it. Plan c would be to refi out and use it as a rental.  

Good day everyone. I wanted to post this situation and get some other investors opinion. 
I am currently a real estate agent working with a client of mine to purchase a property. She is pre approved but does not have a lot of cash on hand. We have submitted many offers but she just can’t compete with the rest of the market. I was thinking about purchasing a property with cash and then possibly do a little work to it and then sell it to her. The point of purchasing to sell to her is that she does not have to compete with the rest of the market. In terms of protecting myself is there any documents that would be suggested for me to have her sign? Would it be smart to sit down with a real estate attorney and write up a contract? I have never done anything like this but I believe it could be a win win for both of us. 
Any and all advice is appreciated! Thanks a ton! 

Hi everyone!

I currently have a client that is wanting to sell there property and use the funds from the sale to purchase their next property. We are located in Ohio for reference. I am wondering the best way to structure this deal. Any and all advice is always appreciated! Thanks!