All Forum Posts by: Chris Seveney

Welcome to BP

I use Zillow. Best place to find deals is meeting people and finding them off market though.

It depends also on your goals. I do 15 year at my credit union at a ridiculous fixed rate of 2.75%. My goal is not for cash flow now but future cash flow. I would like to work another 15-20 years and if I can get 10 properties now getting me 1,000 a month then by the time I retire I will be mortgage free and have that cash flow to supplement my income. I do not need the cash flow for today because I most likely would spend it on something else.

Unless you are doing multiple flips and for others it is not worth it since as the homeowner you can pull the permits in Virginia.

Matt Vaughn - I came from a similar background. While you have already a huge head start - there is still a lot to learn depending on the property types you wish to invest in. I recommend starting small and slow to get your feet wet and continue to ask a lot of questions.

Completely depends on Location, size and level of finish - if it's in a "W" town near Boston or good school area you will be a lot higher than to would in other areas.

I would pass on the deal. I assume it's not in a high appreciation area so you are basing it on cash flow which if the garages are not rented out or you have one month of vacancy you are negative for the year.

It depends on why it bulged and settled. If it's because of poor soil conditions a steel beam will not solve the problem you will need to underpin the foundation. Pay the $300 and hire a structural engineer to come out and review it is my recommendation.

Those fees are not out of line. Like others notes to do a $250k mortgage or $25k it's the same amount of paperwork and research etc.

Vanessa Ryder Put it in simple terms from banks I have spoken with - 1. If it is a portfolio lender they may not require seasoning 2. If it's a lender such as a Wells Fargo you can have "delayed financing" based on what you paid for it or after six months can refinance based on appraised value