All Forum Posts by: Cassandra Sifford

@Joane Guiadem  Welcome to BP!!!  I live in DE and am familiar with Wilmington.  There are good pockets to invest in and not so good ... that's with any city.  The path of progress is running through West Center City (Adams Street down to Market Street and close to the Riverfront are good areas to invest.  Depending on your budget Trolley Square is a nice area, but it can get expensive.  Cool Springs / Tilton Park (West Side) is an area I was looking to invest in (still would if I found a deal).  I was interested in a triplex there, but upon doing my due diligence, I found out that the civic association wasn't approving any more variances due to the area being oversaturated. 

I'm not available to connect this weekend, but am happy to answer any questions you may have.  I look forward to hearing about your journey! 

Take care ... Cassandra :)

Good afternoon!  Wondering if anyone has experience with quiet title deeds in Philadelphia?  I have a friend who is looking into acquiring properties with this strategy.  This is a new venture for him and I just wanted to see if anyone had any feedback.

Thanks!

@KB Collins  Thank you for both being excited and scared along with responding LOL  I've spoken to a real estate attorney who will draft the paperwork per our terms for the seller financing option.  He was very chatty and I appreciated his perspective and clarification on what I'm trying to do.  I'll reach out to him again to discuss the Subject To option and see what his insight is.   I'll also have to check what others may have said on BP to get some clarity on how to approach things.  I've been working on this deal since last August and the duplex since December.  They just so happen to be ready at the same time and I don't want to lose either deal.  I realize that what God has for me is for me alone so if it's meant to be, IT'S MEANT TO BE!!!

Hello BP! I'm working on a creative financed deal. It's a SF 4br/1 full bth / 2 half baths. The owner is willing to sell for $32k, but wants me to put down $20k and he'll finance the $12k. He'll deliver it with a clear title as he owes on a loan against the property (not sure how much). ARV is $130k-$140k and it only needs about $20-25k worth of work (or less). I've given him the option of Subject To and at 1st he was receptive but is now back to wanting to do the seller-financed deal. He was apprehensive at first because he felt it was one-sided in his favor. Does anyone have some good tips to help me persuade him into doing a subject to? I thought about increasing the offer price to sweeten the deal. I don't want to put that much down as I have a duplex that I'm interested in buying in the next month or two. Any insight is welcomed!

Thanks in advance ... Cassandra

I was interested in a triplex they owned locally.  It was in really bad shape.  Original listing at $155k.  Everyone's offer was too low and they'd counter back at the listing price.  They took it off the market and relisted at $110k.  Someone submitted an offer and it's note continent.  I did a bunch of due diligence and found out the area council is rejecting MF variances apps.  With that said, whoever buys it is stuck with a 3550 sq ft SF.  That's a HUGE HOUSE.  I hope they know what they're getting into...

Good morning Dan!  I pray we are all in the best of health and calling all businesses thriving and untouched during these times.

I reached out to my tenant a few weeks ago.  Luckily she works for a large company and won't seem to be affected.  I did let her know to stay in contact with me just in case anything changes.  I've been making some broker and bank connections in hopes that when the smoke clears, favor will continue to be with me.

I'd welcome a call to connect with us all locally and am looking forward to being apart of something great and uplifting.

Well wishes ... Cassandra

Hi @Tom S.  Thank you for reaching out!  I've been plugging along with my personal cards and have been getting offers on my current cards for balance transfer offers.  I've taken advantage of some of them and moved money around to get that 0% for quicker pay down.  I'm in the research stage and everyone is helping me get where I need to that much sooner.  Thank you!!!

You're welcome @Shawn Skaggs  It is common.  I called five different banks and they all had very similar terms.  My bank allows me to fix the interest rate 3x during the draw period and there were some other perks because I have multiple lines of business with them.  It's a good product.  Thank you for the well wishes!

I used a HELoC against my primary home to get into my 1st property in 2018. It's a 10yr interest only w/ a 20 year repay. The rate is not fixed though :( My loan lady reached out to me to refi both the HELoC and the car payment that I have with them as she said that Trump declared an emergency rate decrease from the prime rate so refinancing both look good! I'm hype about that LOL I'm going to get an increase on it as well to have some additional reserves for my next project. I've just been paying interest so far, but I plan on paying on the principal in the fall to get it down. I'm looking into business lines of credit and Plastiq to pull the money off my personal credit cards if I need extra money with the down payment on my next BRRRR deal.

Well wishes .... Cassandra

@Clint Coons Thank you for responding and providing your insight! Yes I'm referring to getting trade lines in my LLC. My investment property mortgage is through Wells Fargo so I was definitely going to reach out to them since we already have a relationship. My issue is my DTI is high from the property's renovations. Since it's a personal guarantee would it be best if I paid down some of my personal debt before applying for business credit? I've been working on that and getting one blemish off of my credit report. I have a personal LoC w/ Home Depot and have had that card for over 8 years so I'm hoping to be good there as well!