All Forum Posts by: Clifford Paul

New to the game, I have two single families so far. Went conventional on the first with 25% down got creative with a construction loan to fund the second this month. How are you guys refinancing in such quick time frames? All 4 lenders I've gone to said 6 month minimum. Without the ability to finish BRRRRing these 2 properties I'll be at a standstill for 6 months. Please help!

You need to find a small bank or credit union that does in house/portfolio loans. No seasoning required.

0 Votes

I had 88 feet of sewer liner (CIPP) done. Cost was approximately $145 a foot.

0 Votes

Originally posted by @Lei L.:

If allowed, how much do you charge for pets?

And smoke inside?

Thanks.

We allow up to 2 dogs in our SFR's. A nonrefundable fee of $450 per dog and a weight limit of 45 lbs.

No smoking inside. After 35 years of doing rentals had one tenant decide to smoke inside. Needless to say his deposit return was $0.

0 Votes

One idea is converting it into a self storage facility .

2 Votes

Originally posted by @Renay Reese:

I am an advocate of "its better to have it and not need it then to need it and not have it" I do know some people don't feel comfortable with open carry. I have heard the argument it is safer for some people to draw and protect themselves while open carry.

When a person open carries they are simply advertising take me out first.

17 Votes

Originally posted by @Jason Munger:

A friend of mine said you can only flip a certain number of homes per year without being a licensed contractor. Similar to how you can only sell X number of cars per year without being a dealer.

I've NEVER heard of this for house flips...

I get that there are limitations to how many mortgages you can hold, and sometimes loans need to be seasoned, etc...so I'm aware of those limitations. But not on the actual buying/selling of properties.

BetterPockets family...ever hear of this?

Get some new friends! You are a reflection of the five people you spend the most time with. Your friend clearly knows nothing about flipping or real estate in general.

0 Votes

Originally posted by @Amanda Fulmer:

Thank you all for your suggestions. Yes this home is sitting on 6.5 acres in the north ga mountains. It's rural and more of a vacation spot than a metro area. We have continued to do some cleanup and fixing and sprucing and finishing since those pics were taken. And no, there is no fridge! We will have the new pics done and I think after these suggestions I will probably have an appraisal done as well. We are debating on also splitting the land off from the house. Thanks all for your help and input. Thanks Joe Nizdil for the congrats! I was so excited to do my first deal. Now I'm just worried and frustrated! We will try try again!

I see many people have mentioned no refrigerator. In Texas it is not common to receive a refrigerator when buying a house as the refrigerator is considered personal property. You can however request a refrigerator be included in the purchase as I have negotiated for one many times. Just a thought to consider are refrigerators usually included in GA?

0 Votes

On one of our VA loan house hacks the underwriter wanted to know why we wanted to move after only 2 years. Since it was not a PCS move they asked for a statement. We simply told the truth, because my wife wanted to be closer to work. The move cut 22 miles a day out of her commute.

0 Votes

All Forum Posts by: Clifford Paul

Clifford Paul has started 5 posts and replied 464 times.

Post: My offer on a duplex

Post: Clayton Morris / Morris Invest House of Cards starting to fall.

Post: HOW TO REFINANCE A BRRRR IN LESS THAN 2 MONTHS

Post: Lateral Sewer Pipe Repair via Coating - Pricing?

Post: Do you allow pet in your rental home? Do you allow smoke inside?

Post: Looking for Ideas for a vacant warehouse property in Texas

Post: Open Carry, Concealed carry or no carry while do business

Post: Limit to how many properties you can flip per year?

Post: My flip isn't selling

Post: Lender "might not" approve new owner occupied loan after 14months