All Forum Posts by: Raquel Aviles

Wanted to let you know someone made a cash off of $140k! whoo its competitive out here! 

WE did do an Escalating Clause so I'm excited to have the knowledge about this method and will use it again in the future! thanks so Much! 

I'm in a similar situation where all utilities are paid by the landlord. I had a plummer and electrician come out and got so crazy quotes. I kept going back and fourth on what to do and finally decided, I'm going to raise rent and just advertise as all inclusive utilities. I'm ok with tenants leaving because rents are low and this gives me an opportunity to renovate one by one. I'm also looking for a HML and Its been difficulty. Mainly because of Covid. I did find one lender (Stratton Equities) They have a prepayment penalty within the first 7 years, interest rates is like 8% and I have to bring 20% to the table. It would be ideal to have some options. Any suggestions would be appreciated.

Everyone Gave such great advice! I already contacted my realtor and were going to put an escalation clause in our Bid! That bit of advice is Invaluable!

I'm also going to put a larger EMD down!

Thank You guys...

Hello, I'm in the middle of a bidding WAR & I want to win! This house has been on the market for 3 days and they've easily already gotten 30 offers. It's to be on the market for 2 more days and are requesting highest and best. I just found out a friend of mine offered 85k CASH. (ASKING PRICE IS $80K) He's only one offer. I have been out bidded before by 10k, 16k, 18k. I'd like to win this one!

This home is a 3 story Single Family, 4,200sq ft with 5 Bedrooms, 3 Bathrooms and a huge open basement. The ARV is $240, needs $50k in repairs and updates.

Asking price was $80k.

I put in an offer of $101,900.

I plan to hold this property, turn it into a rooming house. Refi hopefully at 80% LTV

Any suggestions on how to win? Is there a formula? Or just figure out your MAO and roll with it? I already waved contingencies and give a $2500 EMD & POF of a 10 day closing.

Thanks

Any Lenders you would suggest I try first?

Thanks Alex, I will look into KC Investor Funding. There are many lenders who will find a 30yr Rental. Not sure if I use the words Hard Money to loosely. There terms are expensive but since I haven't completed 2 years in business quite yet they are my only options. I own 4 Single Familys, I have a good amount of cash in the bank and my credit score is excellent. Its that I don't have the 2 years business tax returns yet to work with a conventional bank. That is the reason I have to work with other lender "Hard Money". My credit union says after this years Tax return they will lend to me although im sure there will be a limit on how many mortgages they will give me. 

It's $165k no repairs are needed although im getting a quote to get duckless mini-splits Installed. I see your From PA, I'm from Harrisburg.

Hello, I'm looking for Hard Money lender to Fund the purchase of a 6 unit. I have worked with a few lenders in the past and they all only fund 2-4 units. I found one HM lender Stratton Equities that will fund but not 100 sold with them. Does anyone know any hard Money lenders that will fund a Buy and Hold for a 6 unit? I'd like to call around and get information. ( Not looking for a Broker)

THANKS

Sorry for the duplicate post, cant figure out how to delete.

Hello, I'm looking for Hard Money lender to Fund the purchase of a 6 unit. I have worked with a few lenders in the past and they all only fund 2-4 units. I found one HM lender Stratton Equities that will fund but not 100 sold with them. Does anyone know any hard Money lenders that will fund a Buy and Hold for a 6 unit? I'd like to call around and get information. ( Not looking for a Broker)

THANKS