All Forum Posts by: Nick Scapellati

Thank you John.  I have the same concerns with paying a contractor to do all of the renovation and eating the profit.

Being new to real estate investing, I have been learning all aspects of the business.  And when it comes to financing I have learned many things.  Recently I have been introduced to 203K mortgages and was reaching out to the BP peeps to see if anyone has experience with this type of financing.  Is it a viable tool or not?

Thanks Will. Though I am new to REI I was considering the Jax market. When I start there I will definitely steer clear of Suncoast.

@Justin Wotring congratulations and best wishes for future prosperity.

@Jim Goebel thanks for the information Jim. I will keep plugging along.

@J Scott thanks for the info. Both offers I have made were well under asking but fit my numbers. I am anxious to start but determined not to jump into a bad deal. Knowing that you have had to make that many before you have had success will help me stay patient. Thank you again.

I am at the beginning of this endeavor and have made a few offers. So far I have not had an offer accepted and was curious to others experience with this. How many offers did you make before one was accepted?

Thanks Jaysen for reaching out to me.  As far as the reno the drywall and the carpentry is removing a small wall in the kitchen to open the area up to the living area and floor are bamboo and will be refinished.  I will be doing some of the work myself so the cost will be offset some.  I will be house hacking this home.  I recently sold our home and we are currently renting.  I will be using a conventional loan for the purchase and will be out of pocket for the reno.  The holding cost are for the mortgage insurance (only putting 5% down) and interest on reno money.  The reason for the none month is so that we have a home to stay in until our home is built.  

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Hi all.  I will not be able to attend the meeting but do want to connect, and if another meeting will be held at future date I would love to attend.