All Forum Posts by: Danielle DeCormis

No appraisal yet. Haven’t made an offer  until I know what kind of financing I can secure

Hello! Just found out that my lender doesn’t do fix/flip loans in rural areas.  Do any lenders?

Hello, All!

I am looking at a property zoned commercial where there is retail space on the bottom floor and an apartment above. The apartment requires substantial work to be completed prior to renting. The retail space needs minor work. I'm used to BRRR'ing residential homes and would like to do something similar with this property. Is that a thing? What are my options?

Working on a deal where the home has been foreclosed on by the bank but they indicate they have no knowledge of the solar panels or whether there is a lien.  Has anyone dealt with this?  Who owns the solar panels and what's my liability if I continue with the purchase?

Having never worked with an equity partner, how would one structure this?  

Hello!

I'm looking at a mixed-use property (cafe on bottom floor, 2 apartments above) with an asking price of ~850k. Commercial loans require 30%-35% down and a DSCR loan will require 25% down. I have some funds of my own, but not enough to cover the steep down payment. Has anyone ever structured a Seller Finance deal where Seller funds (via equity) maybe 10%-20% down? If so, would you be willing to share the terms and how it worked out for all parties involved?

Seeking advice on best approach...

Just purchased a property in the greater Pittsburgh area.  It's in a C+ area that's on the rise, but it's located on the crappiest street.   I ran quick numbers (see below) and it would seem that we'd cash flow better with Section 8, but the horror stories from other investors scare me.  

SECTION 8 ANALYSIS

Section 8 Rent permitted            $1785.30

Subtract Utility Allowance             - 468.00

    Actual Rent Charged               $1317.30

Subtract Mortgage                         - 500.00

Subtract Prop Mgmt Fee               - 131.73

Subtract Taxes (20%)                     - 263.46

Subtract 10% Vacancy                   - 131.73

Subtract 10% Cap Ex                      - 131.73

            CASHFLOW TO US             $ 158.65

STANDARD LEASE ANALYSIS

Monthly rent (asking amt.)          $1100.00

Subtract Mortgage                         - 500.00

Subtract Prop Mgmt Fee               - 110.00

Subtract Taxes (20%)                     - 220.00

Subtract 10% Vacancy                   - 110.00

Subtract 10% Cap Ex                     - 110.00

             CASHFLOW TO US             $ 50.00

Thoughts????  Pros/Cons?  

Hello all!

I asked a question last week about how to purchase a 50k turnkey rental property with a DSCR Loan and received some great feedback. I'm looking for some additional advice....

Due to the low dollar value of the loan, I was unable to secure DSCR funding or any business funding for said property. I had to get a conventional mortgage instead. I'm ok with that but concerned about liability. I've seen some posts about quitclaim deeding the property to my LLC, but was wondering if there were other creative ways to shed personal liability? Is it possible to rent the property to my LLC for the cost of the mortgage and then have the LLC rent the property to a resident with the lease holding me harmless? Or, is it worth just getting an umbrella policy to cover all properties? My ultimate goal is to NOT be personally liable if someone is injured on the rental property. Any thoughts are greatly appreciated!! Especially because I have my eye on a few more just like this one! Thanks in advance!