All Forum Posts by: Randall K Compton

Hey Jake, I used my own for a while after being frustrated with generic ones that didn't have the output fields I wanted. So all the places Ive run either prelim or detailed numbers on are right there..

Have you checked the BP Files page? might be something there that trips your trigger.

Hey man, is the calc link supposed to take you to results page or is that all the info right there in your first post?

Hey Dustin, how about a hardship withdraw? pretty easy and fees/taxes aren't crazy that would be a solution.

It's about the same where we are here in AK while under stay at home orders. If its crucial work I imagine you could find a hungry GC that will perform essential work.

Hey all,

We just found out that we won a bid on a duplex as a cash offer for 140. We had hard money lined up for it but didn’t realize it’s technically not a cash offer (fail fast and fail foreword, right?). So we are looking for alternative options to secure the property. Alter our offer, find a private investor, etc.

Some quick details

Our Bid is 140

Tax appraisal is 225

ARV 280

liberal rehab would be 40

as a duplex after rehab estimate 3k gross, after utilities and taxes, 2250

Thanks in advance!

@Caleb Smith

I talked to my banker and a couple other real estate agents about this not too long, wondering what the extent of the FHA game was.. similar to you.

Ive Heard a lot of the same stuff. They get weird about moving down, and generally speaking you'll go through more trouble trying to get a new FHA.. and the insurance can really start to eat into the properties cash.

One thing to consider would be reach as big as you can on your one FHA (you can look up what the fha limit is for each residence type in your area), maximizing your buying power, then if you're looking for another property you've got a big multiplex or rental on an FHA helping you generate cash to buy the next, which can be I. Less than a year.. just don't get spread too thin, obviously lol.