All Forum Posts by: Chris Seveney

Depends on when you have the equity - we built our personal residence and after we got permanent financing we then applied for a heloc since we had the equity Note a lender will probably only go to 80%.

Good to know - I was unaware of the cash out refinance after 4.

I just tried to refinance my BRRR that I bought in July and my credit union told me I had to wait 6 months (till January) Not a big deal but just letting people know that there may be a seasoning

congrats 

make sure you know your neighborhood. Remember you also get what you pay for. 

I would recommend if you are not experienced to take advantage of the site and all that it offers.  

Put a plan together first as well.

Good luck

how much does your uncle owe on it ? Could you have him do owner financing or subject to deal?

Do you have a full time job? If so out it in your name and not a company.

First talk to a lender and see there requirements . Several questions you need to know is who pays utilities. Also you need to factor in maintenance, repairs, capital expenditures and vacancy Still looks like it possibly could be a good deal depending upon the expenses One thing to check is the taxes - $3200 for $45,000 property seems extremely high.

i'm looking into purchasing a vacation rental at a ski resort in Pennsylvania.  When I talk to the management company that manages many of the condos at this resort, their fees are 40% .  I'm curious if that is high or is that to be expected For a ski resort on the east coast that is not a major resort. 

Thanks

it is of course possible but my first thought was a sales pitch and it is rare to see 1 person all by themselves go from having zero investments to $20M in two years 

Does anyone actually believe this ?