All Forum Posts by: Peter Fennig

That's an impressive property with some good numbers and ROI by the look of it. Nice 29k savings with the purchase price too... and very nice flooring choice

hi Donna, if those numbers are accurate, with a current mortgage of $60,000 left on it and a potential ARV of $325,000... I would try everything in my power to find a partner (which with those sort of returns shouldn't be hard) or somebody who can bring financing to the table such as a hard money lender because that would make an amazing flip (again if the numbers are correct) or if it was mine personally, I'd get the money to rehab the property then refinance out of it, rent it out and let the tenants pay your mortgage and use the equity to reinvest in another property

Haters are gonna hate... and they sound especially stupid when there's spewing it from a completely ignorant standpoint. 

As my favorite drill sergeant (Sergeant First Class Taylor) from basic training would say to a person like that..."Shut your mouth you worthless Turd a#%hole" lol

That kitchen island is badass and I'm SUPER impressed (jealous) with that custom walk in shower! Awesome job and one heck of a return

I'd be interested

I have a problem where I've been self-employed for 2 years now and only have 1 years worth of taxes, and have a house that has an ARV of 60k that I own free and clear but it needs 25k to rehab to reach that ARV.

I've got a potential hard money lender whos willing to help me with the rehab cost but before we can make that happen he needs as an assurance from me to provide in writing a bank who's willing to refinance the property after it's been rehabbed.

So far I haven't been able to find a bank or credit union who's willing to put that on paper with one of the biggest factors being my self-employed status and only having one years worth of taxes at the moment. Was curious if anyone has recommendations on a bank or credit union that will do business with me in Fort Wayne basing the refi off of the ARV of the asset or investment and not as focused on my personal employment status? A place more focused on in house loans. Any guidance or Direction would be highly appreciated

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Nathan Rude and Kevin Pruitt, were the houses you refinanced at that small of an amount your primary residences that you lived in or were they strictly investment rentals? Also curious if you guys have W2 jobs or are full-time investors or business owners?

I got a problem of my own where I've been self-employed for 2 years now as a full-time contractor, but only have 1 years worth of taxes, and have a house that has an ARV of 60k that I own free and clear but it needs 25k to rehab to reach that ARV.

I've got a potential hard money lender willing to help me with the rehab cost but before we can make that happen he needs an assurance from a bank who's willing to refinance the property after it's been rehabbed. 

So far I haven't been able to find a bank or credit union who's willing to put that on paper with on of the biggest factors being my self-employed status in only having one years worth of taxes at the moment. Was curious if anyone has recommendations on banks that will do business with me in Fort Wayne basing the refi off of the ARV of the asset or investment and not as focused on my personal employment status?

Man I love when the before and after pics are shared on here. You and your partner did an awesome job with the cosmetic finishes...I personally love how inexpensive recessed lighting is and the dramatic difference it makes to a space. Great job and congrats on the ROI!

Congratulations...That's a pretty sweet ROI!

Boy that before video was brutal!!! I'm not going to lie though as soon as I saw the bomb shelter I would have been sold. Excellent job on the finished product!

That's a really good question Alexander... One I'd like to know the answer to also! I don't see why there should be too many problems with doing something like that except for maybe consider checking with your building department and local zoning if a commercial property is allowed in that particular area that you're residential property currently sits? 

That's something I had to check with when I converted a single family property into a duplex