All Forum Posts by: Chris Marette

Hi Everyone,

I need some guidance or tips or any ideas in regards to an appraisal that did not come in as expected during a cash out refi. I have done several in the past and most I have been satisfied with the outcome however this one was not as expected therefore I am trying to get creative. Long story short I disagree with the appraisers value of the home and will place rebuttal however that appraiser also completely messed up rental values so the DSCR has really impacted what I was expecting to get out of the property. I was able to rent the home for $2600 but the lender is accepting the appraisers rental value of $2050. Is this standard practice or is there any lenders out there that actually accept what the home is rented for? Additionally this hard money lender is at 75% loan to value are there any lenders offering 80%? I appreciate any input or suggestions.

Hi,

My wife and I recently moved to Mexico City and we are curious if anyone has successfully flipped in the city. We have been flipping for about 10 years in U.S and we definitely understand that there may be many rules, laws and regulations limiting the ability to flip for a profit worth the effort. My wife being Mexican may facilitate the process of acquiring properties however we are not familiar with much of the real estate process in Mexico. If anyone has any advice, tips, success stories or any guidance would be truly appreciated.

Hi Everyone,

I am in need of advice on whether or not it makes financial sense to hire my sub-contractor full time on a fixed cost. This year we acquired 10 properties and our goal for 2021 is 18 properties to fix and flip.  We have been working together for about 3 years, he is looking for security while I would love to have someone on board that could handle many parts of our projects. He does all of our tile work (master bath, guest bath, powder room, backsplash, chimney), flooring, baseboards, crown molding, make ready (door handles, cabinet pulls, mirror installation and final touch-ups) amongst other things that come up during rehab. Let's just say he is extremely valuable, reliable and versatile. He is looking for $6,000 a month and he would be solely working on all our projects. 

Although it makes me uncomfortable to commit at that price, if I believe in my business and the growth trajectory this makes sense.

I would love to get the input from the BP Community and see if this is a good choice in order to scale the business? Any advice or tips would be appreciated.

thank you