All Forum Posts by: Asher Carr

Hey everyone,

I'm looking to get better at analyzing the numbers in a deal but I wanted to get insight on particular elements of a deal to make a logical decision.

I'm specifically looking for data elements for multi-family/commercial-type properties. TIA!

@Oliver Pilco yep. All good. Thanks for reaching out.

Originally posted by @Aaron K.:

Spec builds are risky they are even more risky if they are halfway around the world.  If you want funding I'd look for it in the Philippines not the USA

Thanks for the input sir!

Hey guys, I was just brought an opportunity from my mom. She has a corner lot in the Philippines that has potential to build a condo or home on it. Her buyer is not interested anymore and she wants me to take over and but it through my business. Does anyone know how I can find capital for this international deal? I'm sure there had to be extra steps but I'm a dual-citizen and she's looking to course early October. Thanks in advance for feedback.

Originally posted by @Jay Hinrichs:

that sounds too good to be true frankly.. caution unless this is a personal friend or family member if its a private lender you met on line.. good chance you will lose any up front money you give them

This home is family. Step dad. I haven't made the jump because they are asking for $1100 upfront. Is that normal? 

I also have another lender that can offer a blanket loan foe this home and another, just to meet requirements and get the full projects funded. I don't think that's a good idea though.

Hey everyone,

So i'm looking to close on my first rental property. I am looking to get funding from a private lender that does balloon financing, interest only payments at 6% for 5 years. I'm asking for a loan of $70,000. Though anything can happen, my tenants are looking to rent-to-own the property  and buy it within 3 years. 

I am concerned with the closing cost since I offered to cover almost all of it. With this loan, it comes with 2 points, 1% charge of loan for underwriting fees and $450 home inspection. I'm worried that I won't be able to cover closing cost, title insurance, etc. and I don't have much. What should I do? I know there has to be a way and I am looking to finalize things with the seller in the next week. Just want to make sure I can cover these closing fees. 

@Aaron M. Thanks. My deal is actually in PA. I see you are from PA as well. Is there anything that is State specific I should be aware of during closing?

Originally posted by @Dan Barli:

Hi @Asher Carr, usually in NJ, the buyer pays for their own closing costs, which includes title insurance, attorney fees, and lender fees if applicable. The seller usually pays the realtor commission (if there is one), the realty transfer tax and any open items found on title. Hope that helps! 

 Hi Dan,

Thanks. This transaction wouldn't involve a realtor. So it looks like the seller doesn't have to worry about anything. I appreciate the response, sir!

So i'm writing up a contract to buy a rental property. I was wondering what others do with the closing cost portion. What closing cost should buyers and sellers cover? I would like to cover the cost but I didn't realize the different parts associated unless closing cost is just one cost. And also transfer fees? Thanks in advance.

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Hi everyone. Here is a rental property I am trying to close on very soon and I am in need of funding ASAP. Please let me know if you are interested in helping. Thank you.