All Forum Posts by: David D'Errico

just call around to local banks and ask about rehab or renovation loans. If you live in the property ask about 203k fha. If it is an investment then you will need 20% down 

1 yes you would need to know before closing if it is a clear title

2 just request that both parties would have to agree on extension 

3 not sure on that one 

try Zillow or google maps while you are in front of it? Or asks neighbor or postman. I'm assuming there are no other houses directly next to it to use as a reference? If it's vacant you could check inside the mailbox for junk mail? 

Call some local lenders and ask about Rehab loans. A bank near us funded 80% of our purchase and rehab on a six month interest only loan. With no monthly payments, interest and loan balance due at six month or pay just interest and a fee to start another six month loan. 6% interest rate I think 

welcome to BP! Checkout the podcast they are a Great resource 

Be sure each party is clear on their roles, expectations, and responsibilities. Who manages the contractors, how do you decide something if you disagree on cost or type and style of material etc. 

I got an unsecured line of credit from a local bank. It was 10% interest annually with a minimum of 3% monthly payment. So just be sure you can cover those monthly payments. Ex: $10,000 at 10% with a minimum of 3% of the balance monthly payments is about $300 the first month then gets lower as the loan gets paid. OR if you have equity in your home a HELOC would be preferable

Welcome to BP! What is your focus/goal. Look up other in your area who are doing what you want and connect with them. You can set up keyword alerts to stay connected. Check out the begginers guide  https://www.biggerpockets.com/files/user/brandonat...

wish I could give two votes to @Derek Daun

@Chris Martin must be tough to have to invest and live in Topsail. Haha I used to be stationed at Lejeune and love that area. Do you invest in  vacation rentals there? 

@Tim G. if you need boots on the ground let me know how I can help, if you look into the Louisville, KY market.