All Forum Posts by: Chris DeMorais

Hi @joshuadorkin in particular and everyone else!  I too am having issues uploading a picture.  No error pops up, just nothing happens.  I have tried on explorer and chrome.  It is a jpg file.  Any help would be greatly appreciated.  Thank you in advance!

Hello All,

Thanks for stopping by my post.  I have been considering installing gas inserts for the fireplaces in a duplex I own.  My tenants enjoy to use the fireplaces, which is fine, but I am not the biggest fan of having them building wood burning fires in the units.  I thought a gas insert would be a good compromise, as well as add a luxurious aesthetic to the apartments.  The property is in a higher end rental community/town, so they wouldn't be out of place.  I am just not sure whether the financial investment would be worth it for ultimately just my peace of mind.  

Any insights would be great.  Thanks for everyone's time.  Happy investing!

I have only dealt with small multi's up to this point, but the numbers on this house were too juicy to not put a bid on it. I am familiar with stabilization of apartment buildings but does that same formula correlate with SFR? Can I expect any sort of gain in the appraisal value when looking to immediately cashout refi upon getting the property rented? Any indulgence on the situation at hand would be greatly appreciated. I love BiggerPockets and love you all who make the lives of the little guys much easier. THANK YOU!!!

That makes sense. I will have to talk to my broker about his opinion. Have you ever experienced or heard of any push back from Brokers when approached by an agent that wants to purchase HUD properties themselves?

Thanks for the response Greg. That is great to hear! I am guessing even if bought the properties through an LLC I am a partner in, I would not be able to take a commission correct? What if my partner was the one to technically purchase the HUD property, could I receive a commission?

This is a subject where everyone has a different answer when I ask them, so i am asking the best community I know when it comes to problem solving! I started my licensed real estate journey at a brokerage that was a HUD licensed brokerage. I was told that I personally could not purchase HUD at that time. Fine, I get that. I have since moved on from that brokerage and have hung my license at a brokerage that is not a HUD licensed brokerage. However, there are agents who are selling HUD properties (not purchasing for buyers, but listing for the bank). Am I still in a situation where I cannot purchase HUD homes? Or am I in the clear and I can start to fire away? Any thoughts would be great. Thank you in advance!

Hi all!

I am new to Bigger Pockets. Love the content. I am bringing this situation to you all because I have exhausted all my known options and think this community can for sure help.

To cut to the chase, I have a 2 unit multi family I bought for 225K that is now worth conservatively 400k, with cash flow of $1500/month. I want to get a line of credit against the equity in the home, but do not have the ability to get a traditional HELOC. I have discussed refinancing, but am trying to avoid that at all costs due to projecting to pay off the note in less than 6 years.

I recently listened to a Bigger Pockets Podcast where they were sponsored by B2R finance.  As in other threads, it has been discovered that they have been bought out by another company.  I found Corevest Financial and was wondering if they were an option to help me pull equity out of my asset?

The funds would ideally be used to start generating active income through turning over properties which would drive the reinvesting of that capital into rental properties.  If I would have to direct the assets at another hold property, I would be open to that as well.  I just want the money working for me!

Furthermore, If anyone has any other solutions as to how I can gain access to the equity of the home, I am all ears.  If someone has interest personally in helping me out, please don't hesitate to reach out! 

Thanks so much for everyone's time! I am looking forward to being more active on here.  Talk soon!