All Forum Posts by: Bobby Forsythe

I need to buy a BPO but i dont know where to? because its so intimidating to put an offer on a house that u cant seem to nail down an ARV. Can someone please tell me where to but one. Thanks

so im wanting to buy this house and every damn wall in the house has paneling on it except the bathroom and its got wallpaper everywhere. What do you do in that situation. do you automatically put sheetrock right over the top of the paneling and how do u deal with wallpaper.? Thanks guys im really wondering if it makes the deal not worth it unless if i gotta redo all that. Do i have to remove the wallpaper and the paneling? Thanks for the help

Thanks guys

Can I ask Why a cash out refi is better than a Heloc when u can pull out up to a 100% on some Helocs and a cash out only gets u 75%. Please lmk what the benefit of the cash out is over the Heloc since u can still pay ur hard money back and do all the same things. Thanks 

I can set put your airbnb for the passive income. however I would be curious to know what happened that would get you banned for so long

you will get hard money do whatever ever rehab is needed and depending on if you want to buy and hold or flip the strategy is different. if u wanna buy and hold you rehab the property and do a cash out refi to pay the hard money back but hard money is also gonna require you to pay about 20% down plus some points and title fees. Good luck Hard money is pretty flexible if its a good deal and if you have the money to pay the down payment.

If your market is to hot go elsewhere. It's only scary the first time so start small and get some people u trust and its easy after that

@Aaron Akins This is something i recently learnt the hard way. Don't assume because 5 banks tell you something isn't possible that it's not. All banks have different guidelines and I find that local credit unions and portfolio banks are the best at offering the best options. Keep looking and your gonna find one

I you mean you paid only cash and you used zero financing of any kind then so u have the deed and just wanna pull cash out you can put multiple properties into one portfolio loan which is an option. there are also hard money lenders that will refinance for u and carry the loan at a higher interest rate. The best option is to use your conventional loans for the best rates and fees 

Can someone point me to a bank in Huntsville AL or any bank that i can use that i can do a refinance on a property that I pay cash for so i can pull my equity out immediately and pay my investor his money back. Do all banks require a 6 month title seasoning period or was i given bad information. Thanks guys