All Forum Posts by: Adam Aero

I want my appraisal to be 275k. Should I talk to an appraiser before the bank gets an appraisal? Doing a cash out refinance. 

Because of it's not going to appraise that high, I could finish the basement fairly easily. (And then it should definitely appraise that high.) 

Thoughts? Specifically I could add a French door to a room to make it a bedroom. The basement can be made into two additional bedrooms. I would finish 4/6 rooms down there with proper egress and optional ventilation. It's a huge house with tall basement ceilings.

Quote from @Sam Erickson:

Below are my anticipated numbers:

ARV: $200,000

Purchase: $124,168

Rehab: $15,000

What became the actual rehab cost and sale price?

Quote from @Nick L.:

Do you have any experience at the Waukesha/Ozaukee/Racine county sheriff's sales? Are they less or more competitive than Milw county? What about outlying counties?

I'm wondering the same.

Quote from @Nick L.

if you could successfully line up financing in the period between the sheriff's sale and the confirmation hearing, could you close with bank financing? Or does the process specifically require that you close with the cash that you prove you have when you win the bid?

 It's been about five years, what did you find out? Is this possible?

Quote from @Marty Boardman:

sheriff's sales (Wisconsin). The single most important thing you MUST do is get a title report

Is there something special included in these reports that is not public information? Is this gotten from the county or an outside party?

I looked at Milwaukee, and one has to pay about $7 via Tapestry. Certain other counties seem to have this information freely available.

I just attended a virtual four-hour REIA where he was supposed to discuss seller financing. Most of the time he just plugged his student program and his $2000 content package.

It helped me realize a goal. In the future, it is highly likely I'll attend some "seminar" (read: sales presentation). Now my goal is to leave before the first hour is up--no matter how much money was paid to get into the "seminar." 

I'm living in one half of a duplex as owner-occupied for 8 months now. After 4 more months, I'll have roughly $30k do-anything cash (aside from emergency fund). I look for MFH under or around $100k that need a bit of fixing up. (So 20% down and $10k of mostly DIY improvements.)

I will do BRRRR with my one and only duplex, then buy and move into another house in 2023. Although, I could reset the year clock of owner-occupancy with this duplex by having the refinance done this month. Should I scramble to get renovations/improvements done this month? Or should I just wait until I find another MFH and leisurely do the renovations on my duplex in the next 4 months?

I know interest rates are still somewhat high, but I mistakenly got a 15-year loan. So regardless, I will refi to 30-year and cash out $7-10k. Then I will try to do an FHA insured loan with the next MFH I buy sometime in 2023.

That may have been confusing. Here:

Option 1

- Get improvements done this month and refi the duplex. This resets the year long owner occupancy.

- Buy another MFH whenever. I will not be owner-occupying it. 

Option 2

- Get improvements done in the next 4 months. Refi after those 4 months--but not owner occupied.

- Buy another MFH after at least 4 months. I will be owner-occupying this one.

• universal dust cleaner for keyboard
• window winter insulation plastic screens
• some 5-10 minute meditation book