All Forum Posts by: David Doucet

Ellis,

I am in Hampton Roads and buying.  I don't use BP much since I'm in Subto and usually in that space, but if you're doing deals down here let me know!  Let's connect

David, that is a terrible situation to be in! I I live in Virginia Beach but not sure I can point you to anyone that would do what you’re looking for; however, you can probably make some phone calls based on Google reviews after searching for “attic insulation companies“ or something like that. Give the top five companies a phone call and see where that takes you!

I wish I had something better for your brother. Keep us posted on how it goes

Christian,

Sounds to me like you have $8k and $15K to use. Give me a call; I'm in Virginia Beach but I have a few questions for you that would be easier on a call. I personally don't think unlocking your equity would be good since refi rates are much higher these days. There are options to discuss that may help you get to your goal, though... give me a call!

@Joy Lee

Also… I can ask my peeps if they have contacts from their church if you’re interested

@Joy Lee

Hi Joy, have you found pretty decent success up there? My parents live in the town of Culpeper. I’ve thought about expanding searches up to that area. Wouldn’t mind connecting to see if we can help each other. 🤙🏼

@Heyward Lovett

I’d love to talk about a few of your asks; sending you a message on messenger. Wouldn’t mind a meetup, I’m always game to talk story with anyone who wants to discuss real estate!

Hello BP community! * I need your help and sage advice!! *

I have a chance to assume a freely assumable loan for a duplex at 3.25% loan rate with a balance of $214,000. It was appraised two months ago for 260k. I believe it only needs some minor HVAC work under the crawl space (reconnect two ducts and insulate existing ducting) and a few other touch up items that won't cost more that ~3k to fix up total. The seller would like to walk away with 10k (which I would have to pay out of pocket on the side). To assume the loan will cost $2-3k. PITI would be about $1,100. Assume 7% for variable landlord expenses.

Top unit (1/1) rents for $825 and bottom (2/1) rents for $1100.  

I have tried to find calculators/spreadsheets for this scenario, but can't find something to show me how I would do in this deal.

Does anyone know of a way to calculate this deal using existing tools or can they point me in the right direction for analyzing this deal?  I appreciate any thoughts, cautionary tales, or direction to head with calculations, etc.  *What else am I missing?!*

@Nick Shri

Right. I’m working on buying for what he owes. We’re working a deal on the side to put some cash in his pocket. I need to account for that.

But the 255 is a recent appraisal because of a potential buyer that fell through

Hi everyone, I'm in southeast VA and I'm wondering if I'm missing anything for this duplex that would have me put a lot into the deal and provide cash flow with a fairly low CoC return. Would you do it, or is there some way to creatively make it work for me and the seller you may be able to offer up? This would be my first deal.

Overall, the building seems to be in good shape. It had a VA inspection and appraisal within the last two months because of previous potential buyers. Nothing alarming on the inspection; would need two HVAC ducts reconnected under the house and some ducting insulation redone. Maybe a fence fix and some other minor items- so I assumed 3k in repairs. If you have any feedback for me, I'd appreciate it!!!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

@Tricia Miller- yes sure! I believe my number is in my profile for you to contact me. If it’s not I’ll update it!