All Forum Posts by: Tyler H.

Project looks great, hope you get a full price offer, Day 1

Keep in mind, if you may be using reserves held in an IRA, some lender guidelines only count 60% of the total IRA balance towards reserves.

504 loan would not fit for a 4 plex/spec development deal, as they are intended for owner occupied commercial space.

If you got great terms on your FHA duplex, there is no point in refinancing this early, unless you bought it at a 30%+ discount. Financing your next deal may be more difficult to qualify if you plan to use any sort of Fannie/Freddie financing. Consult with a local mortgage banker for underwriting guidelines for your situation ( ie, landlord experience, reserves, debt to income). Start to develop relationships with local bankers as well, who may be more flexible.

Thanks for sharing. Does this apply even if the seller already has representation?

@Jason Eyerly How many people have you physically talked to in the last month that can put deals in your path? Realtors, attorneys, title company contacts, etc. How many offers have you made on listed properties? Have you knocked on doors in neighborhoods you want to buy in? Do you have a way to track these numbers?

I would encourage you to take more sales action to develop more leads, for which there is no substitute. You may consider expanding your farm market.

Recent Rehab in North Richland Hills, TX

Purchase Price: 70K

Rehab: 15K (Some Foundation Repair, Mostly Cosmetics)

Sold: 112K, Full Price Offer on Day 1!

Before (Guest Bath, Pretty in Pink)

After

(Ceramic Tile Surround, Tile Floors, Bronze Shower Trim)

Before (Master Shower)

After

20" Porcelain Tile Surround (cut in half, looks like Travertine),

Mosaic Tumbled Travertine Tile Floor

Oil Rubbed Bronze Shower Trim

Kitchen Backsplash Before

After, Used 4 x 6 Noce for Edges, 10x10 Glass Tile

Before, Fireplace

After, Simple Paint, Trim and Minor Staging.

I did my due diligence and decided to do business with people I like and trust. I preferred a qualified plan without exorbitant annual custodial and transaction fees (which aren't necessary, lesson learned).

Call Dmitriy at Sense Financial.

http://www.sensefinancial.com/

I use and recommend them.

Yes, Home Depot offers the line item invoicing on their Net 30 Commercial Card, which is nice, I use street address as my PO # to track expenses for certain properties.

Not sure about Lowes, but I was just approved for their Commercial Card w/o a personal guarantee. I think they did check DNB.