All Forum Posts by: Phat T tran

hi all BP members. I just bought a house with the homestyle renovation loan. this is my first investment, and I kinda plan to DIY some of the work such as paint, flooring, installation cabinet or maybe some simple task or maybe hire a handyman to do the work for me instead of a license constructor. but i don't know how exactly it works out with the constructor, since this loan required the license constructor do all the work. have you guys use this loan before. i try to find out exactly what i can do and can't. 

i have never done this before, so any idea would be helpful. 

thank you all

Hi all real estate. Is any one here have use home renovation loan to buy a house. I just bought my first investment with that loan. Now it come to rehab part. And I have a bid from license constructor. Can I ask you guys how was it. What is the most challenging we might have, and I plant to do flooring and paint myself. What else can I do or hired handy man that can save me some money instead of have the license constructor do all the work. Because my budget is 60k. Foundation and plumbing is already cost 12k. So if you guys can give me some idea about it l. It would be really great. Thank you

@Craig Bliss yeah you right. As my first investment. I should look for a better one

@Tapan Trivedi thank you. This would help a lot.

@Patricia Smith thank you. Patricia do you live in Portland ? Do you have any recommendations construction guys ?

@Tapan Trivedi hi I'm sorry but what do you mean by what investor already looked for ??? . The ARV is 350.

Hi I'm sorry patricia. My real question is about the age of it. If i buy this property, have to spent 35k just to make it liveable. 

hello all the BP members. Would you guys pls give me a suggestion of what I would do in this situation? This is my first time investing. here is a deal. i offered a fixer upper house at portland or and got accepted for 285K with a conventional loan, 20% down. After the inspection, the property needed 20k just to make it liveable( foundation, sewer , illegal staircase, illegal updated electrical),not even cosmetic. The lender suggested that I put down 20% as a conventional loan to avoid mortgage insurance. After the first loan closed, she suggested I get the second loan( equity loan ) to budget for the rehabbing. one more thing is the house built in 1900, on a busy street and facing the cross street. pls help me ?

https://www.biggerpockets.com/...

Hello all fellow investor. I'm new by the way, I really like the method drive for $ and purchase a property for 80% market value. So I fount one property that been sitting in a hidden neighborhoods. All the house around it are nice except this one. So it caught my attention, and I contact the agent and fount out the house is not for sale. It owns by development group at cali. The house is in a very bad conditions. Need some massive repair. I want to use brrrr strategy here. But don't know how to ask the company to sell it for me.   Would you guys pls help me some ideas here how to approach a deal. Thank you

@David K. hey Im from portland . Just started the journey too. Let connect