All Forum Posts by: Christopher Chunn

Thank you Bruce for the good info I will Contact the permit office.

I have some concerns about a home I am Purchasing. The listing says the home is 1655 sqft. The home does not look it. I will measure and verify sqft before inspection period is up. My questions are the garage is closed in with AC and heat, the area is finished. Would this space be legally counted towards sqft of the home, if so why wouldnt the home be 4beds instead of 3 beds? Confused about all this. The home is in Louisiana.

You are correct hard but true lessons learned

Yes you are correct. I was told he was the best with 203k loans. Couple day extension you would think would have not been a problem but I guess all sellers are different.

Well guys I had my first deal slip from my hands. We are currently renting at the time and was in search for that awesome deal for our first home purchase. I came across a flooded home and made a offer. I got the home under contract for 50k, rehab was gonna cost me 70k. And I got the appraisal back today at 185k. I was soooo excited. We were supposed to close on the 30th of this month using the 203k loan. After a month of hard work, paperwork, contractors, Home Depot picking out our rehab material. First home at a awesome steal. O and 1200 dollars out of pocket for appraisal, elevation certificate, and inspection. What could go wrong only a couple days before closing? That's what I thought. Got a email from the closing company saying the seller wants to back out. We were officially supposed to close today due to the contract expiring today, but the appraisal took longer to come back than usual. I asked about a extension before all of this happend and the lender said we will just ask for a extension at the new closing date, which would be next Tuesday. Not sure what to say or do or where I went wrong but this has been I hard lick to recover from. I talked to the seller and tried to plead for a extension and she said sorry she changed her mind. (What she meant to say is she received a higher price ovislly. I even offered her more money on the home. Didn't work either. Any advise for the next deal would be appreciated. This has been a big bummer today.

Richard Spears is a good one.

Thank you very much Mrs. Carrianne, that answered a lot of my questions. 

Yea that is what i hear. Thank you guys for your help

I have the home under contract for 50k with about 60k in renovations. The ARV is around 165k

We are currently renting at the time our lease is up on june 30th. I resourced a deal from a friend of mine and i have the house under contract. I have decent credit but most bank want atleast 20% down for a investment property. I was looking to fix and flip the home. My exit strategy would to just move in it if the home didnt sell in a timely fashion. So refinance out of the HML if i chose to go that route. Buttt they are wanting alot of experience and money to do the deal. Just trying to figure out my best options. I know there are alot of fee associated with the 203k loan and alot of control from what i have heard. But i guess there are fees involved with all loans