All Forum Posts by: Anthony Golden

Questions for Rehabbers and builders in Pittsburgh, PA

A. Does anyone have a Cost Analysis chart for the cost of materials and labor for various properties?

B. What is the normal Time frame of possession to rehab to close?

C. Cost of money from lenders that supply rehab loans.

Thank you

I've been on the hunt to buy my first home using a 3.5% FHA loan that I've been pre-approved from by my lender. I feel as though my agent isn't aggressive enough and when I have a suggestion about strategy or share a property I'm interested in they kind of shut it down. I've noticed that they end up showing me houses that cost a bit more than the ones I'm showing them.

I understand it’s about the monthly rate more so than the overall price, however, I’d like to have less of a down payment on the front end so that I can start investing in an investment property quicker.

My thought is that the agent is pressing the more expensive homes in order to receive a higher commission but I don’t want to speculate. We’ve been getting crushed on offers for 3 months. I’m curious if one even needs an agent in order to utilize the loan from the mortgage company.

Thank you!

Is it worth it to look to purchase rehabs in a different state than the one you reside in?

Hello BP, I’m looking to purchase a property that sits on 2 tax lots (house on one, garage on the other). When drawing up the PSA, do I need to put both tax lots in the legal description of the property, is it included, or do I need to make a separate PSA with the other tax lot?

Thank you!

Is buying a condo as an Investment property good or bad?

I'm in a market when SFR's are on the higher end, and condos on the lower end. Why is that? And are there any private lenders that are interested in this type of venture?

I played professional Basketball in a foreign country for two years and came home last year and immediately got a W2 job one year ago. In order to qualify for an FHA or conventional loan, you need at least two years of consistent employment in order to qualify.

Now I have decent credit and a steady income, and I’ve done a wholesale deal, yet I’m stuck on my next move.

There’s a duplex I would like to purchase at a decent price that needs work, but without a loan, I’m afraid I might miss out.

I’ve heard of Private lenders and hard money lenders, but most lenders won’t lend to you if you’ve never had some sort of relationship with them in the past (understandable... trust).

What would be the best route to go. I’ve heard of Owner carry/Lease Option creative financing, but that may be a bit out of what my understanding is.

What are some solid options?

@Wayne Brooks I see. Thank for the input. I’ll follow up this week.

@Tom Gimer thanks for the information. Yea, the agent who listed it seemed a bit fishy about the information he was giving out. I’ll look into it this week with the title company. I appreciate your input.

I recently got a property under contract with the heir of a specific property. We were looking to wholesale the deal to an end buyer, and immediately we found one. Both contracts were signed and sent to the title company on the same day.

The title company worked to get a title check for the property and uncover a loan on the property that the seller, who was the heirs of the property held by deceased parents, did not know about. Furthermore, we received word that the property was listed and pending by a realtor who had worked with the property before and had stated the property was a short sale.

I was then told by a managing broker that there would need to be a lis pendis signed in order for the deal to go through, as well as making sure the heirs was on the trust from the original owners, and not to mention, taking care of the existing loan.

Can anyone explain if they’ve had experience with this situation what’s the next move?

Hi all,

Looking to get some more information on subject to the existing loan deals.

Are they a good option and are there any experienced investors that have both good and bad stories?

Cheers