All Forum Posts by: Ronald Starusnak

Aaron, who gave you that adjusted ARV? Get the opinion from a few sources and don't just guess on it. My recommendation is to absolutely not touch any kind of merchant cash advance company, they are the devil. Don't keep digging the hole deeper, if you have equity now why not just sell? What's it worth right now and can you sell it to an FHA buyer? Why did the banks and HML not want to finance you?

You can still evict if they pay upfront, you just give them their refund. It's all in how you run your lease, just make sure you're in compliance with how the rental funds are handled. Typically they must be in their own account and some must cases if you're taking a big payment like that upfront it can get weird if you have to evict but just issue the pro-rated refund and move on. 

There are lenders that lend based on the performance of a property. There are also private lenders that you can partner with but you have to bring something to the table. If you're going to grab a hard money loan, often times they couldn't care less about your credit score if the property is performing well but most will want 20% down. There are also lenders that offer full funding on a flip, they have underwriters that verify the potential ARV, the rehab cost, and other factors, then they work with you and at the end you split the flip profit. In the beginning you might only get 20% of the profit for organizing the purchase of the home, organizing the contractors, and running it through to the sale but you'll have your feet wet and you'll have built a reputation with your lender.

Why not sell the property? Or do the cash out refi and then sell the property? $180k can be used to create much more than $150/month in income especially if you're able to BRRRR.

Hey Mindy, I sent a submission. 

Where in the EU and how much are they? What sizes? Are the farms only lots? Are there buildings? 

 If you're trying to buy in LA then you're not going to make money from the rent. People that buy in Booming markets tend to buy with equity appreciation in mind. Meaning, they're hoping the market goes up and that's how they make their money. The margins are too small in some of those areas, it's difficult. You can want to buy somewhere in the country where the prices are low but the rental rates are fair. It's hard to make money at the bottom of the market but even harder to make it at the top. 

Thanks, I wanted to list on Roofstock but turns out they don't cover NY. 

David, who's doing the work on them? Where did the repair cost estimates come from? 

Anywho.com, you can get someone to make you  a script that will run your list through it and throw the results into a PDF.