All Forum Posts by: Christine Hull

Right now, the average bank in my area will do a cash out refinance at about 7.5% (for a rental property, 30 years). Obviously this makes it extremely hard to cash flow a BRRR property. Why aren't there any investors out there that will offer to do a private refinance for a lesser interest rate than the bank? Or maybe there are I just don't know about them. Is this option legal?

I am ready to dive into BRRR investing and have found an agent I am interested in working with. In the book by David Green, he recommends that you find an agent that invests themselves. However, if my agent who also does BRRR's finds a great property, wouldn't they want to purchase it themselves instead of recommend that I buy it? So then if that agent does find me great deals, I am automatically going to be suspicious because they probably decided to pass on the property for reasons I may not realize. Am I missing something here? I hope I am

Nothing like real life experience as the best teacher ever! Good for you

I own a vacant residential lot and considering offering a land contract (where I keep the deed until the land has been fully paid off by the buyer). One of the potential pitfalls I see is if the buyer decides to build a house on it. If that buyer then defaults on the land payments to me, how would I get my land back if they put a house on it? Yes, this is a lawyer question but thought I'd throw this out there first.

I've been working on subdividing 5 lots in a country neighborhood that I've created. I am ready to sell but still not sure if I want to try and sell them FSBO or just go with a realtor. If I do choose the realtor route, is the standard 6-7 percent commission fee different (lower) for multiple deals? If I sell each lot for $165,000 that is a potentially hefty amount to pay the real estate agent...to the tune of $57,000! Is it normal to negotiate a commission down to 3-4% or would that be insulting? I've dumped a TON of money into this subdivision all ready and don't want to see my profits go down the drain but also have little experience doing FSBO. Thoughts please!

I just bought 35 rural acres and plan on subdividing it into 5 lots. I want to live on one of these lots, and I value my space (hence the reason for only 5 lots). Since I do not want to have neighbors that paint their house purple or park 20 cars out front, we will be needing some restrictive documents for buyers to sign. Where is a good place to go to get covenants and restrictions document drafted? I am not too keen on the idea of hiring an expensive attorney. Are there templates available online or is there another more creative way to go about doing this?

Thanks for your input. Do you think credit unions have the potential ability to offer lower interest rates?

I am new the real estate investing so excuse this obvious question: I purchased a condo last year (it's an AirBnB vacation rental). I have excellent credit but the interest rate is super high. I shopped around a few traditional banks and they were all high so I just settled on the lesser of all the crappy options. Can I get more favorable interest rate if I refinance through a credit union with less stringent rules and regulations?