All Forum Posts by: Dani Montgomery

What woud you suggest as a down payment check amount? We are currently saving and I want to make sure we do this right the first time and don't show our complete inexperience.

it would be owner occupied for a year while we flip. I'd love to fix it IP and have 25-30 in equity so we can sell it in a year or two. The goal is if we enjoy the process as much as I think we will to keep going and dig deep into the real estate market. If not, we have a place to live dirt cheap :P

We are looking into buying our first investment property. It is listed for $60.3k with an ARV of $108-110k. We are estimating it will need about $20-25k repairs. I'd love to get it for less than $50k. Bank owned. It has been on the market for 4 months now. How would we approach negotiating the amount lower? We do not have a large down payment ready, but we were looking into a 203 loan. Is there a way to approach them that would heighten the chances of an agreement? How have you talked down a bank?

My name is Dani and my husband and I have always loved doing things ourselves. Since we started a family, we are looking at selling our beautiful home and buying a fixer that we can flip and possibly sell for a profit in the next few years. If we can successfully flip and we enjoy the process, I'd love to make it a businessbusiness and flip more houses. The issue is we just found out I'm pregnant so instead of us doing 80% of the work like we planned, my wonderful and overprotective husband is nervous about me even laying laminate or painting. Now I have to figure out how we an afford it while hiring help. Our bank refuses to finance a home that won't pass inspection. How do you finance besides an investor when it may be a long term property?