All Forum Posts by: Matt Vogt

My parents neighbor passed about a year ago and the home was left to the niece.

She’s rarely at the property but I had the chance to speak to her for a short time this past weekend and was told she believes that there’s liens on the property so she can’t sell it. More than likely she’ll let it go back to the bank.

Where do I start with this property? I want to figure out the best possible way to make a deal

@Craig Wilcox thank you guys for the input!

I’m not going to be using any of my personal cash. The 100k is a private loan from a personal friend.

I was given 50k originally for renovations and the down payment. Then he offered me another 50k if I wanted it to use it to put towards the house.

I’m doing the Brrrr method.

Have a house I’m interested in.

Purchase Price: 152k

Reno: 20k

ARV: 205k

I got preapproved for a conventional loan at 4.52% for the 152k

But I also have 100k in cash that I can access.

To keep it simple I’m just trying to decide if I should use the full conventional loan or if I should do the conventional loan and cash to purchase the house so I don’t have that big of a home loan?

I’m looking into a home that I can get for $152k and needs $15k in rehab.

The rehab can be done while we live there. It’s appliances, lower bathroom and deck.

Ill be renting it to friends that lived with me prior to getting this home.

Should I fully finance the home for 152k

Or

I have 80k that I could use for the house and finance the rest

I’d still have 20k left to use for the rehab.