All Forum Posts by: Nathaniel Epps

 Where is the supply going to come from? If developers aren’t building because it cost too much due to inflation, and why would developers spend all this money to build and then take a loss on the sale? I think we’re still going to face a shortage problem until rates and inflation comes down. I don’t really see a crash like people are thinking. I know everyone wants 2008 to happen again especially the investors I just don’t see it happening.

Hi Jonathan, thank you for your response. And that does make a lot of sense. 

I'm planning on remodeling a home. It's currently a 3/2 that will be remodeled to a 4/3 in a great neighborhood. I've listed a few questions below. I have 120k in cash that I planned to use for the remodel. And then either do an SBA loan, seeing that this home is going to be a Residential Assisted Living Care Home (RAL) to get my money back, or do a Cashout Refinance. But would it be wiser to use a rehab or hard money loan and keep my money on the sideline?

Hi, Bigger Pockets community. I'm looking for some feedback as I'm currently under contract for a single-family home in Oregon that I will be remodeling and updating into a Residential Assisted Living Care Home (RAL). It's currently a 3/2 that will be remodeled to a 4/3 in a great neighborhood. I've listed a few questions below.

1) I have 120k in cash that I planned to use for the remodel. And then either do a SBA loan to get my money back or do a Cashout Refinance. But would it be wiser to use a rehab loan or hard money loan and keep my money on the sideline?

2) Do more people in this industry see single- or double-room occupancy?

 Hi Aaron, I didn’t end up going the assumable route, not to say I won’t in the future, but I did go the fha route, and the funny thing is I signed a section in my loan agreement that stated that this loan was assumable. 

 That’s a good question, I would assume you wouldn’t have to live there for a year, due to the fact that you might be purchasing a fha home where the owner has already fulfilled that 1 year requirement. But I could be wrong and the one years doesn’t follow the original owner. 

Hey Brad, thanks for the feedback.

Hey Eliott, thanks for the reply. The goal is to actually find an FHA assumable loan with a great interest rate in a desirable area, with a great school district and then force appreciation into the property with one or two additional ADUs. I would fulfill my one year obligation of living in the property then I would move out and rent out all three dwellings, using a mixture of Long/mid/ and short term renting.

Hi everyone, this is my first post, so if I'm asking this question in the wrong area, my early apologies. I'm looking to purchase my first property, and I've been searching for properties with FHA Assumable loans. I do have a good amount of cash to make up the difference between the mortgage and the asking price, but I have a two-part question

1. Has anyone had any luck with assuming FHA residential home loans?

2. Has anyone been able to take out a second mortgage at closing to cover the difference?

I want to keep as much cash in reserve.