All Forum Posts by: David A Slocum

@Zack Karp Thanks for your input. That’s an excellent explanation! Are you willing/ able to help me with a deal in AL?

Thanks for the input. Still looking for someone to explain the timing of the actual rehab work taking place during the closing process. How can you include the rehab costs on the HUD-1 before the work is ever completed? Do you have to estimate and pay for all the rehab costs before the work is done?

Thanks for the reply. I'm trying to figure out when the rehab work is performed during this process. How can your rehab receipts be available at the first closing? You would have to rehab property that belongs to someone else. That's where I'm getting confused.

I'm a new BRRRR investor looking for my first single-family deal and I just finished David Green's book on the BRRRR strategy. I've been listening to BP podcasts and came across two podcasts that mention delayed financing as a strategy to avoid the typical 6-month waiting period. I would love to hear from those who have used this financing strategy. Specifically, I'm interested in how the timeline works. From what I understand, you put all of your rehab costs on the HUD-1 at your first closing and you can either get 75% LTV on the appraised value (ARV), or 100% of the purchase price (plus rehab costs), whichever is less. If this is correct, this means you would have to rehab the property and get an ARV appraisal without closing on the property. How is that possible? I would love to hear from anyone who has experience with this and could provide a timeline of the process.