All Forum Posts by: Wyatt Wolff
Wyatt Wolff has started 6 posts and replied 452 times.
Post: Buying a friend's townhome?
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Quote from @Butch Greene:
So we just checked with Prime Lending & Movement Mortgage.
We've got a couple dings on credit that make us ineligible for the cookie cutter stuff.
What financing direction do we go now?
Pretty sure with new floors, fresh paint and maybe countertops, we can get it rented fully.
Post: Pints & Properties REI Meet-Up
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Quote from @Joshua Stewart:
When you say Upstairs, is there an elevator? I'm in a wheelchair but would like to come.
Ill definintely help you up there man, no worries. Im sure @Angel Cabrera wouldnt mind either! Looking forward to seeing you there!
Post: New Construction Loan for 6 Lots
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
I second what Daniel said. Ill put out some feelers, but experience will probably be a hangup for some lenders!
Post: anyone know of any Community Banks specifically in Daytona Beach and Cocoa Beach Flor
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
I have a couple buddies down there, I will reach out to them
Post: Adu Vs Dadu
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Quote from @Danny Gutierrez:
Thank You Wyatt and Evans for your responses.
Evans, I am new to this journey of knowing anything about property management and building an ADU. I want to ask who do I ask exactly if I can build this unit. Am I asking the HOA I pay quarterly and if so what do I ask them exactly? In addition, How would I find a GC as well?
Thank you for your help.
You would talk to the PM that your HOA uses, and bring supporting evidence from the covenants (you should be able to find that online). Once you have yes/no, if yes, see if there are any restrictions. If there are not, you would go by county guidelines. GC's, im sure there are some on here, I know one or two if you want to shoot me a PM. You could also probably find them with a good ol Goog
Post: Buying a friend's townhome?
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Honestly, just come in with a good fair offer, and explain it to him. Run comps and so fourth. If y'all have a good relationship, it should be a fairly easy conversation. Dont overpromise, just tell him where youre at. It sounds like you have a little more DD to do on HOA, comps, etc. You could also see if the loan is assumable, if they have the original one and especially if its with the original servicer.
I would always recommend a PM, but honestly BP makes it easy to self manage. If you have questions on that, message @Lorien Rollins.
Post: Pints & Properties REI Meet-Up
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Look forward to it!
Post: Adu Vs Dadu
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Check your covenants with your HOA, that would be the first hang up. Then check with the county, they will have the answers you need. I believe in Mecklenburg you can have an ADU if you have a certain size lot, and if its 800ft off of the road.
Post: DSCR Loans under $75K & $50K?
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
I keep running into this issue as well. Definitely following
Post: Bigger Pockets Featured Lender
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Quote from @Jamie Jones:
Quote from @Chris Watkins:
Quote from @Wyatt Wolff:
@Chris Watkins So out of 8, you have had two that are qualified and are moving forward? 25% success rate is not bad at all. Please keep us updated.
25% closing would be great, we'll see as time progresses. Also have made several intros to investor friendly agents. If it puts me in a spot to refer, that has value, too.
@Chris Watkins that is honestly as big part of my motivation of pursuing the leads. At the very worst, if I am able to refer a couple solid leads to realtors, that should help me stand out and provide value.
I love that. You are very right. We always want RE agents to bring value to us but I feel like a huge opportunity area is to get them solid, prequalled leads