All Forum Posts by: Amanda Gant

Why not make a few renovations and turn it into a 5 BR. You will get more money. Yes, you can use the top limit on the website https://www.dchousing.org/vue/... I would choose the option that does NOT include utilities. I've got 10 units on HCVP in DC, if you have more questions, reach out.

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Originally posted by @Joe Splitrock:

@Account Closed I he trouble for the listing agent is without a buyers agent, they are now stuck dealing with you to make sure you do everything on schedule to get to closing. In other words, they do twice the work for half the pay.

Most houses today are selling for over list price. Multiple offers are how they bid price up, so in that situation a seller wouldn't be smart to take your offer.

The challenge with FSBO in general is that everyone expects to gain financially. The seller wants to keep all the money that would be paid in commissions and they buyer expects a steep discount because there are no commissions. The less savvy party ends up losing. So I agree you can gain without a realtor, but there is equal opportunity to lose.

I would also add, that as a Realtor and a real estate investor who has represented myself on buying and selling many properties... if I am selling a property and I see an offer come in unrepresented, I would give the offer to a represented buyer. I actually selected to sell to a buyer represented by @Russell Brazil, because he gave me the service and piece of mind I needed that we would close the deal. Let me tell you, Russell's client was not the highest offer in my case. However, let me also tell you, that I had just started as a Realtor, and it was HIS expertise in coordinating with the appraiser that helped the appraisal value come back at a value where the deal closed. (Original appraisal was weakly researched and came back in really low). So, with a good agent, both a seller and a buyer win!!!

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I went straight to the horses mouth and got a cool excel spreadsheet to use, too. https://selling-guide.fanniema...

Look for "Rental Income Calculation Worksheets" This entire article plus the worksheets should answer any question. I'm currently filling in the worksheet with my 7 rental properties using my 2020 draft tax returns. I'm anxious to know how much i'll qualify for, too, as I bought 5 properties in 2020!

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You can represent yourself in a deal! Perhaps try looking around on Redfin and Zillow yourself. Get a new agent, also. Agents can like someone who takes the bull by the horn. Sounds like you know how to analyze a deal, you just need an agent to help you check all the boxes and complete the offer documents!! Believe in yourself. You can do it!! Also, inventory is horrible right now. March might bring better inventory than January. I would look at the recent sales in the area you like to get an idea for prices in the region. I would expect prices to be higher in March (due to ongoing inventory shortage and lower interest rates)... but if you can find something where the numbers work, you can be ready to jump on it confidently once something comes on the market. There is no time to figure it out. :)

About question one: I would walk away from a leaky roof and mold! Unless you can get a huge discount. Wallpaper is NOTHING, go for it. Foundation, I would need to consult with my dad who is a contractor.

Originally posted by @Sean MacLeod:

I have a couple of things that seem to be halting my first purchase.

1- I seem to be looking for “the perfect house”. I originally had in my head I wanted a house that didn’t need much renovation work. However my agent seems to keep showing me projects that need $25-30k worth of work. I’m nervous jumping into a project that requires months of work with multiple subs, but should I switch my thinking? Are there repairs that investors see as walk-away-repairs (leaking roof/mold, foundation issues, massive amount of wallpaper)?

2- My agent is a friend and has good connections, marketing, and an eye, but has a national investor looking for BRRRR houses I'm competing with them, whom needs 42 houses this year. I suppose I need a new agent, but am a natural skeptic. How to vet out a good agent that caters to investors? They're sales, so they will all say they do it.

3- I seem to be looking for “the perfect area.” My agent is showing me property not exactly in my desired square mainly because there seems to be nothing available. Should I widen my horizon, or hold out?

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How has Deal Machine been going... 10 months in?

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This channel is gold, guys. I really appreciate it so much.

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Really appreciate it. I was just worried that my QI would have to send the forms in somewhere. It sounds like as long as I have the forms signed, and can get them and other documentation (closing sheets) to my Tax Preparer, we should be good to go...

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Hello all - I am working with a QI who seems quite in-experienced! I want to ensure my 1031 goes through. I am on day 40 as I type. I've identified 4 properties, of which I want to purchase 3. (2 under contract, offer out on one, and drafting offer for the last property, in case the offer isn't accepted).

Basically, I have created property ID forms for all 4 properties and sent them to my QI... but i do not know the next steps the QI is supposed to take with those ID forms. Therefore, I am not able to monitor that the correct step has been made. Please help, BP!! Let me know if you need more info. Looking forward to responses.

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I'm waiting for my refinance right now. And the appraiser certainly asked me how much I was going for. I did not tell him. I said, of course I want the highest amount possible, naturally, for a cash out refi. He didn't push me for it when I said that. :)

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They are real. Dm me. I've signed up and have two current tenants in the program. I'm making a ton of money now. I love in DC, too.

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All Forum Posts by: Amanda Gant

Amanda Gant has started 1 posts and replied 10 times.

Post: HCVP Approved Rents Question

Post: Dump Your Real Estate Agent

Post: DTI calculation for Mortgage, Rental income calculations

Post: What's stopping you from buying your 1st investment property?

Post: What are your thoughts on DealMachine App?

Post: What happens to 1031 "property Identification forms"?

Post: What happens to 1031 "property Identification forms"?

Post: What happens to 1031 "property Identification forms"?

Post: Comps for 2-4 units multi family

Post: Are Section 8 Payment Standards Real?