All Forum Posts by: Christian Barth

Their data was ok but I tried to cancel 4 months ago and have been charged for the last 4 months I might just have to change my c

Are there any multi family/ new construction builders in the Minneapolis Minnesota area?

@Patrick Giblin I would go to the market with the most inventory right now. Slim pickings in Minneapolis.

interested

@James Hamling ok thanks James I appreciate the insight!

@James Hamling thanks for the feedback. How would you structure a redemption deal?

I have a seller who just past the 6 month redemption period last week and he is convinced that because of Covid and the restrictions on evictions he will still be able to sell. He wants to partner on the deal as I will be funding the rehab. Is this true or to risky? He is saying he has until December now. I am nervous to put money into it just for the bank to take it. Any info would be greatly appreciated. I would love to help him because there is a decent sized spread. Property is located in Minnesota.

@Thomas Enright I did the  streamlined 30k and it was the max for what i was approved for i got the house for 160 and was approved for 190 so the 30k was perfect even though it didnt cover all the rehab cost and still had to come out of pocket another 30k which i raised from a private money guy. So, i dont know a whole lot about going over 30k and this was 2 years ago and have probably forgot some things. Everything was pretty easy to deal with as far as the contractor went he had done them in the past, but everything with the bank was difficult. approval after approval was needed. I could go on for days. It was what i had to work with at the time and it is a good program and got me up and running. If i did it again there would be a few things i would change. I would have gotten a few different bids from different contractors. Stay on top of the bank/lender so things can get done in a timely fashion, but overall it was a pretty good experience and would recommend the program.  

@Thomas Enright there just so many moving parts, I would make sure the lender is doing their job lol and get a contractor that has gone through it before. I had a pretty good contractor on mine, there were extra inspections and appraisals. The appraiser wanted a bunch of extra work done that wasn’t originally on the bid so everything had to be revised 2 or 3 times. The guy for fha that did his inspection was from Colorado and was the only one available so I had to wait forever until he could fly to Minnesota to do the inspection. It was just one thing after another lol. 

3 months on  fha203k loan. Mind you it was 2 moths after original closing date. Im pretty sure it was the lenders first 203k. my first flip. It was one for the books