All Forum Posts by: Chad B.

John Horner It was in Grove City, were you the big fish? :) Thanks for all the tips, folks! Much appreciated!

Yesterday I was feeling as good as it gets after running the numbers on a SFH and proudly putting in an offer on a house at full asking price with conventional financing; pre-approval letter in hand and a nice letter from my family included with the offer. Money in the bag, know what I mean? Well, my eyes have been opened up to the hotness of the market in Columbus. My full asking price offer was basically pushed aside (maybe it came in too quickly to when the house went on the market?) and I heard nothing from the seller for the next 24 hours... even after my offer expired with no accept or decline. Finally, more than 24 hours after I submitted an offer I heard from my realtor that someone made a cash offer over asking on the house and would be closing quickly. So my friends, how does the little fish win in a market like this? What could I have done to convince a seller to wait on my 30ish day closing when someone else is a cash buyer? I want to become a big fish / cash buyer, how do you recommend overcoming those cash buyers when I don't yet have the funds to do that myself? To the likely BP member who gobbled up the house I was offering on, kudos to you my friend.

Yesterday I was feeling as good as it gets after running the numbers on a SFH and proudly putting in an offer on a house at full asking price with conventional financing; pre-approval letter in hand and a nice letter from my family included with the offer. Money in the bag, know what I mean? Well, my eyes have been opened up to the hotness of the market in Columbus. My full asking price offer was basically pushed aside (maybe it came in too quickly to when the house went on the market?) and I heard nothing from the seller for the next 24 hours... even after my offer expired with no accept or decline. Finally, more than 24 hours after I submitted an offer I heard from my realtor that someone made a cash offer over asking on the house and would be closing quickly. So my friends, how does the little fish win in a market like this? What could I have done to convince a seller to wait on my 30ish day closing when someone else is a cash buyer? I want to become a big fish / cash buyer, how do you recommend overcoming those cash buyers when I don't yet have the funds to do that myself? To the likely BP member who gobbled up the house I was offering on, kudos to you my friend.

John Nisewonger I recently bought a home on Hubzu using a Home Style Renovation loan. They financed the purchase plus renovation. I know you said cash only, but if you speak with a bank there may be an opportunity to utilize this, although there were a lot of hoops to jump through to get my contractors all lined up and quotes submitted to bank prior to closing. Good luck!

John Horner Great post full of valuable information! I personally am still new and hesitant to look for private lenders, but my guess is that if I want to scale quickly, I'd have to go that route. Diana Boling I just financed the purchase price of a home in Grove City plus the rehab. Although not originally intended to be this way (my lender wouldn't lend without this method due to condition of the home), it ended up allowing me to put less cash down initially. It's called a Homestyle Renovation loan. Something worth looking into if you have cash for the rehab but maybe not the down payment, or vice versa.

Robert Ellis Adam Collins Depending on the property location, Huntington was offering little to no closing costs if the property was in a "C" area based on their own findings in 2016. Might be worth seeing if they are continuing that in 2017. My Mortgage Loan Officer was Tracey Larick. PM me if you'd like her info.

Thanks @Dustin Faeth for your recommendations!

Hello!  I am in need of a fast acting, recommended licensed home inspector who can take a look at the foundation of a home I am buying and write up a report.  The home is in Grove City, OH and the bank requires a separate inspection of the foundation (per the appraiser's orders).  Any recommendations would be highly appreciated.  Time is of the essence, thank you!

@John Horner Wow!  Impressive!  I see why @Brad Clarizio snagged you as his mentor!  I'm glad Brad is sharing the wealth of knowledge as well!  

Maybe we'll get the chance to cross paths soon.  I am going to be using PM Title to close on my first investment property.  Contract signed today.

Hello, I recently won an auction on a home via hubzu.com. This is my first investment property! Has anyone had experience buying from Hubzu? The contract comes off very non-negotiable and very seller friendly since this is a bank-owned home. Has anyone had experience negotiating or getting an amendment added to the PSA (something it says they do not do)? Any type of feedback or experience anyone can share in regards to Hubzu would be greatly appreciated! Thanks, Chad