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All Forum Posts by: Bradley Adams

Bradley Adams has started 6 posts and replied 14 times.

Post: Looking for a Commercial Lender in New Hampshire

Bradley Adams
Pro Member
Posted
  • Investor
  • Folsom, CA
  • Posts 16
  • Votes 1

Thanks Tucker, I will try them.

Post: Looking for a Commercial Lender in New Hampshire

Bradley Adams
Pro Member
Posted
  • Investor
  • Folsom, CA
  • Posts 16
  • Votes 1

Hi everyone,

I am looking for a good commercial lender in New Hampshire, preferably near the North Conway area.  Does anyone know of any?  Thanks in advance!

Post: San Francisco Bay Area FLIP!!- Ready to Assign!

Bradley Adams
Pro Member
Posted
  • Investor
  • Folsom, CA
  • Posts 16
  • Votes 1

@Ahmad Azad Yes, I am looking for a flip in that area or really anywhere in the Bay Area, Sacramento, or Stockton.  I would appreciate if you kept me in mind.  Thanks.

Post: San Francisco Bay Area FLIP!!- Ready to Assign!

Bradley Adams
Pro Member
Posted
  • Investor
  • Folsom, CA
  • Posts 16
  • Votes 1

I would like to see the CMA & rehab bid if the property is still available.

Post: Hard Money Lending

Bradley Adams
Pro Member
Posted
  • Investor
  • Folsom, CA
  • Posts 16
  • Votes 1

I am looking to do my first flip. A little background. I have a friend who's Grandpa passed away. His Grandma will be selling their home. It's in a very desirable area and needs some work. My Friend knows that I am trying to begin my REI career and he said that I should look into it. His Grandma is planning on putting the house on the market but I was hoping to be able to go in to see it with my real estate agent and contractor to figure out what my max offer would be, and hopefully put in an offer before it goes to market. Here is where the hard money lending comes in. I am guessing that the house will sell for about 1.2 M. I am in the process of getting a HELOC which should be about $400 K. I would need to finance the rest most likely through a hard money lender. What is the process here? Would I put in a finance contingency for 5 days or so while I try to get a loan or can I go to the HML with the details on ARV and repair costs before I have the house under contract? Thanks in advance for your help!!

Post: Refinancing a Rental

Bradley Adams
Pro Member
Posted
  • Investor
  • Folsom, CA
  • Posts 16
  • Votes 1

@Drew Wie @Christina R. Yes, I would invest in Sac or Stockton, or out of state.  Sac or Stockton seems doable because it is close enough to get to to check in on the rehab, but I don't see how that would work out of state.  

Post: Refinancing a Rental

Bradley Adams
Pro Member
Posted
  • Investor
  • Folsom, CA
  • Posts 16
  • Votes 1

@Christina R. I am definitely on board with that.  The only thing is that I live in the SF Bay area and you can't find anything Even close to that price around here.  I would love to put a $35,000 down payment on a rental in another market but I don't see how I could rehab it.  Then I couldn't get to the refinance or repeat.  If you have any ideas I'd love to hear them.  

Post: Refinancing a Rental

Bradley Adams
Pro Member
Posted
  • Investor
  • Folsom, CA
  • Posts 16
  • Votes 1

That makes sense.  Thanks!

Post: Refinancing a Rental

Bradley Adams
Pro Member
Posted
  • Investor
  • Folsom, CA
  • Posts 16
  • Votes 1

I am interested in the brrrr strategy but have a question on the refinancing part.  My wife & I own a duplex that we rent out both sides.  We have about $660,000 in equity and have owned it for 3 years.  I spoke to a couple mortgage brokers about doing a cash out refinance with only $35,000 cash out and it already made it not worth the refinance.  Our payment would have been more per month.  My question is, that if this doesn't work in this case for just $35K out of the $660K in equity  how could you ever get your money invested back using the brrrr strategy?  

Post: HELOC to do a BRRRR

Bradley Adams
Pro Member
Posted
  • Investor
  • Folsom, CA
  • Posts 16
  • Votes 1

@Corby Goade Corby, thanks for your response.  I was basically making sure that I had the concept down and also how to get the cash back.  I was under the impression that the strategy was to pay cash for the property.  That makes a lot more sense making a downpayment then doing a cash out refi to get back the downpayment.  Trying to ask the dumb questions early on so I know exactly what I'm doing when I get out in the real world.