All Forum Posts by: Tia Ricketts

Hey Alex! Will there be another event for this month or March? I have a schedule conflict so I won’t be able to make this one but I’d love to attend future events! 

Could anyone refer a Pittsburgh area architect who they’ve used and know to be reasonably priced and reliable? 
I have a property that I am rehabbing that has some structural issues that I need looked at asap. Thanks in advance 🙏🏽 

One year ago I unknowingly purchased a condemned property at the Allegheny county sheriff sale (yes, rookie mistake of an out of state investor buying site unseen).

I have since then rehabbed a different property in the same area and using the BRRR strategy I now have the funds to rehab this condemned 2 family house.

The town has been working with me by removing the house from the list to be demolished earlier this year however I need to start the process of getting bids from contractors etc and I am concerned about how much more challenging the process will be since the town’s inspectors will likely be heavily overseeing the rehab.

Has anyone here had to deal with this kind of situation where you completed a rehab with the town’s inspectors’ direct involvement? did they make the process any more difficult than it should have been?
I wouldn’t wish this situation on anyone but if someone has some knowledge/experience of what to expect that would be great!

Quote from @Nicholas L.:

@Nathaniel Irizarry OK, I strongly recommend working with one.  With that price and those rents there may be significant deferred maintenance and/or other issues.  I can refer you to an investor friendly agent if you want.

Hi Nicholas! - would you pass along your agent referral to me as well?? Many thanks 🙏🏽 

Quote from @Zach Gallagher:

Quote from @Tia Ricketts:

Quote from @Zach Gallagher:

Thanks for all the help guys. Someone had contacted me through BP and I was able to work through them to secure the deal. We should be closing in 2 weeks!

We ended up going with a broker at US Capital. They beat Visio's interest rate, so that was a good deal for us.

If anyone is interested in their contact, please reach out and I can forward it!

Hi Zach - can you send me your contact at US Capital? I’ve been hitting dead ends as far as finding funding options being an out of town investor in the Pittsburgh area. Thank you

Hey Tia, message sent!

ZACH! Thank you for the referral. Tom at US Capital is exceptional at what he does and was able to get me funded in under 8 weeks. 
Recording this successful referral for anyone else who might be looking for funding 😊

Quote from @Alex Hileman:

I can send you some referrals for contractors. Send me your email please!

Hi Alex - I sent you a DM earlier about this same topic! If you have any local handymen/contractor/skilled labor referrals please send my way?! much thanks 🙏🏽 

Quote from @Alex Hileman:

Hi Tia,

Being out of state should not be an issue. I'm local and can connect you with some lenders.

Hi Alex - I’ll be in touch via PM. If you have any referrals that you know of closing and are reputable I’d appreciate. Thank you 🙏🏽 

Quote from @Caroline Gerardo:

@Jay Hinrichs is correct the loan is too small for many lenders. I looked at Federated's website it is normal. They are local to the property? My guess is they tried to broker to AngelOak or Fairway who won't go that low of dollar amount.  The costs hit Reg Z.  

I assume Section 8 inspected the unit and it is in great shape.

Can you qualify for a full doc conventional loan? (DTI back end under 43?) Ask Craig what your DTI is and who they tried to broker the loan to???

 We supplied full tax returns, W2, paystubs, bank statements, tax records, etc for the application. Doesn’t make sense. 
I’ll ask who they tried brokering the loan to…

I’m hoping to get a referral from any Pittsburgh area investors who have worked with a lender/bank on a cash out refi and closed a deal.

I’m currently working with a lender I found on Zillow who had great reviews but after one month claims my being an out of state investor was a “hurdle” so we now need another month to finalize the deal. A total of 6 weeks in and no progress smh…

I’m getting PMs from lenders offering to help but some referrals based on personal experiences would help a lot. Thanks!

Quote from @Jay Hinrichs:

loan balance is too small ask for 100k.. that might open things up for you

 Hi Jay - is it advised to ask for more then the lender comes back with what they’re willing to lend?? this is my first refi application