All Forum Posts by: Austin Eschan

@Paul Welden Ok thanks for the info! The rehab should 100% be less than 30k and there's no major stuff so I'll definitely ask about that!

@Paul Welden Thanks! I will definitely check that site out!

@Matthew Porcaro Hi! So I actually found the property a few months back, the seller isn't in a rush to sell,  his granddaughter is actually the tenant right now and is in rehab. He wants to wait till shes out to sell anyway.

But I will definitely ask my lendor about the streamline thing, I hadn't heard of that!

And I also will probably keep this property long term also! It's a pretty solid rental area and the cashflow will be nice each month! Thanks for the reply

@Brandon Kingcaid Yup I'm for sure gonna get an inspection, don't want to skip over something and get screwed on my first deal, lol. But I will check that site out, thanks for the recommendation! 

Hi @Jonathan Pliszka, I have not yet started to find contractors, I'm still waiting on my final approval from the loan guy! Yeah I would like to get into small multi-family soon! I just feel like I can't pass up on all this equity! Go Cats!

The roof is around 25 years old, and will likely be replaced upon purchase. I assume $4,000-$5,ooo

The furnace is also on the older side and will likely need replaced. Not sure of price, but I assume around $5,000

The home was built in '75, overall is in pretty good shape, just needs cleaned up. The exterior is siding that is in good shape, just needs a good cleaning.

There are two small basement windows that will need replaced, but other than that the windows are in good shape.

With the other 5k I would try and fix the kitchen up a bit. Probably paint the cabinets and get new hardware. Likely get new counter tops and possibly new flooring.

@Chris Seveney

Hi! I have a property that I found via wholesale postcards, but I think I want to make this one my own deal for a few reasons.

1. I want to move out of my parents house

2. It seems like an amazing deal to start with, lots of instant equity and doesn't need too much work.

Some details, located in Northern Kentucky in a pretty good area.

Price is 70k

ARV is 125k

I estimate about 15k in repairs/rehab

Market rent is around $900-$1,000/mo

My plan is to get a 203k, and live in it for atleast a year and fix it up over time.

I would also be renting out the 2 extra bedrooms for probably around $300-$350/mo

Assuming I get a $85,000 203k loan, the payment would be right at $400/mo plus another $160/mo for taxes and insurance. If I split utilities I would then have another $72/mo for that.

Totalling to $624/mo

Assuming I got $600/mo for rent , I would only be out of pocket around $25/mo and I'm totally cool with that .

Just want to get some feedback, what do you think?? Seem like a good first home purchase?

Hello everyone, I got a call from a seller this morning and I'm not quite sure how to handle the situation as I am a rather new wholesaler (just got my first property under contract, whoop!). 

It's a SFH with $55,000 Federal Tax Lien. I was wondering how this gets paid throughout this process?

Does the seller clear up the lien when/if the sale is completed with the funds they receive?  Or would the new buyer have to pay it off?

Thanks ahead for anyone who responds!

Thanks @Guy S., a bit nervous to start the phone calls but I know it's what I gotta do!

Thanks @Allan Smith! I'll definitely check those out! 

And the DNC, does that mean Do Not Call?