All Forum Posts by: Account Closed

Are there any weird snags for refinancing on a FHA loan a year down the road? Any way to get out of that mortgage insurance without a high down payment?

@Andrew Cordle 

Alright just did!

Andrew Cordle alright thanks. That makes sense.

And I would be willing to let the third party part of the split, so hopefully their vision and goals would align with mine

Andrew Cordle that's a very good point. The contractor is a pretty close friend, but I still think I need a system of checks and balances. What about a third party that would be willing to do the realtor's part? I would feel way more comfortable with my contractor just focusing purely on getting the houses done

I would prefer to deal with flips only since I won't be in the region. Which also means I'd leave all deals up to realtors, since I won't be able to personally be there on the majority of deals. How do y'all handle the actual deal making?

I am possibly moving to a new location within the next month, but I absolutely love the market I'm in now. I've made many contacts, including contractors I can trust that also have the same mindset as me. The location I would be moving to is about 8 hours away. Has anybody ever been a distance equity partner? As in I would finance all deals with my contractor partner doing his thing, then split profits 50/50?

@Curt Davis is there an easier way to answer my financial questions(liens, etc.) about a property than paying a title company for every property? 

@Curt Davis 

sorry for the million questions, but I really want to learn! When you or your peers have a buyers list, do you seperate out each buyer by what they would potentially want? Or do you always offer every single potential buyer the same property?

@Curt Davis 

Alright thanks. That helps big time. You may also be able to answer this: I currently work at a family owned construction supply store, so finding contractors to evaluate rehab costs(and compensating them fairly) is not a problem. I'm wondering if there's ever just to high of a rehab number that should signal to wholesalers to back away?