All Forum Posts by: Sean Ross
Sean Ross has started 1 posts and replied 132 times.
From a buyer or seller side ?
From a seller side , the cash offer might be less, but will take longer, have more contingencies and still might fall through (doubtful if they have enough cash to purchase)
From a buyer side, same thing, all cash might get the property for a smaller asking price but will take more time and more cash up front.
Post: Refinancing loans for foreign nationals?
- Posts 137
- Votes 115
Yes. I can. Not sure how to post more information without getting deleted though!
Post: Bad credit Cash Out Refinance
- Posts 137
- Votes 115
You can rent it and try and get a loan based off income. There are some credit recovery services that will tell you how to increase your score the fastest.
Post: I want to buy coop that will be on market
- Posts 137
- Votes 115
Financing on coop is hard and you will need skin in the game so to say
Post: strategy for MHP w/ 60s and 70s POH
- Posts 137
- Votes 115
Look into metermaids or something along those lines for utilities. Are you looking for financing? they will value the mobile homes as 0 anyways. If it was me I would run numbers and potential of new homes. Not just hypothtical but research whether new homes would rent or sell.
Old homes are real bad
Are you planning on all moving into this house ? FHA is for primary residence. Reach out to a real estate agent and give them your criteria! That is what they do, find houses.
Hi Chelsea,
I see that Arkansas has some amazing down payment assistance programs. Some of the best I have seen in the country. If I was working in the area I would use that to my advantage across the border.
I guess you need to take other state incentives that are non housing into effect as well for buyers.
Post: LTR v. STR Estimator
- Posts 137
- Votes 115
Quote from @Sastry Srini:
@Mary Beth Blackwell the estimator is simple to use and calculates per month . The model is very simplistic and does not take the seasonality into effect.
Huge variability can happen in "Other expenses " and "property management expenses" as it directly depends on how many times the STR got rented out. The other variables the model may want to include another view from ROI perspective of initial investment. If the model can account for them, it can be developed as a useful tool.
An initial criteria ( general thumb rule) that if STR can generate 20% above the annual expense ( debt service + taxes+ insurance etc), STR may be further considered for further evaluation. if not, move on to next one.
Thanks!
Unfortunately we don't have any tourist off seasons anymore in Florida!!!!!!
Post: Cash out refi or HELOC with equity or continue to save
- Posts 137
- Votes 115
Both properties sound nice! A second loan is a option to grab cash and keep those lower locked rates. You could also move out of the original home, and make the new purchase a primary residence/house hack again. This would keep cash flow and perhaps not require as high as a down payment.
Post: I almost had to sue myself. 164 Unit C class apartment complex.
- Posts 137
- Votes 115
Quote from @Bill Ham:
Yeah I laugh now. Not so funny then. Funny bit- a ton of tomatoes grew in the woods behind the property late that summer.
lol.