All Forum Posts by: Whit Dhamer

I’m in Product Management for an AgTech and avid house hacker/buy and hold rental investor on the side, moving to Loveland CO.

I don’t know much about the RE in Colorado other than it is extremely expensive - especially for the commuting area around Denver and the chique ski areas.

Are there still any deals to be had? Is it worth getting in now (yes I understand the folly in “market timing”...) ? Where in the Loveland and or surround areas would one suggest getting in?

Would be great to connect with some knowledgeable agents in the area. DM me please, thanks!

Whit

@Joe Villeneuve thanks Joe. Land Contract is foreign to me. Will do some research.

@Brandon Harrington

Hi Brandon, I have considered however haven’t found a partner. If you are interested or know of someone who is, im more than happy to explore!

@Melissa Kirchhoff thanks Melissa. I am not self employed, in 2017 I filed my condos under under a schedule C (business and the majority are short term rentals) instead of E. underwriting was not able to account for my deductions, earnings underreported and thus my ratios are below where they need to be.

Ive never explored any other banks or credit union as you suggest. Anyone for the Chicago area you would recommend?

You nailed it, I’d like to start with the reno to start earning the cash flow and repay an investor.

I am under contract for purchase of my fifth investment condo in Chicago. I have hit an unexpected issue on financing, and cannot qualify for a traditional mortgage (bad move filing 2017 taxes under schedule C!)

I would like to propose to the seller the following:

I transfer to the seller a cash amount (perhaps 10% of sale price) today to secure the sale, until I can qualify, likely in Q3 2019.

I would pay the sellers mortgage obligation in the meanwhile and I’d also like to do the renovations I have planned.

Lawyer and mortgage broker are not loving the idea. Want me to have a family member take on the loan instead and get the sale done.

Anyone have any advice?