All Forum Posts by: Andrew Syrios

It basically has to given how ridiculously overheated it has been. The rates hikes will slow it down further. But with the housing shortage so acute, I don't see any collapse and unless there is a general recession, I don't even see a correction coming. Just a slow down in appreciation.

Congrats Angi! And yes, subbing out work is essential. Time is money after all. Good luck on the next one!

This is very true. I've seen crazy stuff in leases including the tenants were responsible for repairs or no late fees or the entire deposit was refunded or things like that. For commercial leases it would also be a good idea to get estoppel letters

It shouldn't be any. A hard money lender doesn't care if you sell or refinance into long term debt, they just care that you pay off their loan. A BRRRR should probably be a little bit shorter hold than a flip as 1) the repairs might be a little less time (rentals don't tend to be as nice as flips) and 2) it usually takes longer to find a buyer than renter, although not in this market. Even still, there is usually a 30 day contract period on a sale.

From my understanding, 203K is just an FHA loan for properties that need rehab so it shouldn't be much more complicated. Good luck Joshua!

Congrats Grant!

Usually you get an FHA loan (or 203k which is just an FHA loan for properties that need rehab) through a bank or mortgage broker. If you have a banking relationship already, I would ask them about it or go to your local REIA and ask for which banks people are having success with and go to them. But most banks should have someone who can navigate you to getting preapproved for an FHA loan.

Welcome to BiggerPockets and congrats on the first deal Timothy!

Congrats Wyatt!

Welcome to BiggerPockets Dennis and best of luck investing!