All Forum Posts by: Account Closed

What is the best way to buy a home that needs rehab. I am intending to either flip the home or keep and rent it out, here are the ways i know of and am deciding which one. Wholesaling(going to wholesaler to find one), foreclosed, short sale, and regular non foreclosed property.

Anyone have experience with this?, which is best way to start. And o yea, i am doing a hard money loan for this

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So the answer seems complicated, depends on the state I am in

Originally posted by @Cody L.:

In Texas, not at all. If a property is on the tax rolls for $1m and you pay $5k, they don't increase as they don't get that data.

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more of a general question,

Originally posted by @Jessica Zolotorofe:

Anthony Gjolaj are you referring to commercial, like retail/restaurant/office or multifamily? In NYC or elsewhere? If you want to share the specific town I can try to give you a more specific answer.

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Before I buy a property I want to know how much my taxes will increase after we agree on a purchase price. I know this means a lot especially when you move into commercial real estate, anyone have or know of a good way to find out how much taxes will increase after you buy?

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Legalzoom gives you address to use I believe called registered agent

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How can I put address for my llc that is not my home address?

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forgot to mention that the property is full rented, what happens then when I get rehab loan?

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What if the property is fully rented with tenants, what happens then? Originally posted by @Benn Albrecht:

@Account Closed There are 2 types of 203k (Rehab) loans. Above 35k and below. From listening to podcasts and reading forums you're better off doing the streamline 203k (Below 35k) as there is less red tape. You are required to get a 203k (HUD) inspector. Not all inspectors have this certification. You are also required to give the bank an estimate from a reputable contractor. The bank will approve the contractor and work will them to get all necessary documents from them.

That's about how far I am in the process...

I would try and put as much work as you can up to the 35k limit, just know you're going to be paying for that over the life of the loan when they add it to the balance. So you might want to consider paying cash for the repairs that aren't necessary right away.

Best of luck

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hello community need your help on this one.

I found a great property near the Tampa area, locked in a great price for this 3 unit. However, it needs some work, new roof, stairs etc, tell me as a non owner occupant investment what are my options?

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Tell me bigger pockets community, it's my first time purchasing rental property(doing it the conventional way with 25%down), the bank appraisal is so late in the process. Now if it comes back that the property is not worth the amount I am purchasing for, I would have wasted this whole time, anyone have experience or can give advice to get this done much sooner in the process?

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All Forum Posts by: Account Closed

Account Closed has started 33 posts and replied 171 times.

Post: Best way to find home needing rehab

Post: How much will Taxes increase after purchase

Post: How much will Taxes increase after purchase

Post: How much will Taxes increase after purchase

Post: LLC address question not having home address

Post: LLC address question not having home address

Post: Rehab loan question

Post: Rehab loan question

Post: Rehab loan question

Post: Bank/lender appraisal , can we do it sooner?