All Forum Posts by: Becky Nichols

Hi  @Scott Pigman... can you tell us the outcome, if there were fines or suspension or revocation?

Thanks!

Becky

We are closing next friday on a Denver area upscale property in a golf course community and need a soft $ lender to invest $30,000 with a return of $5,000 within a 4 month time frame. 

Purch price: $451,000
Rehab cost: $80,000
Cost of hard/soft $45,000
Closing/misc Fees: $39,000
Total all in $615,000
ARV (projected sales price): $695,000
Profit: $80,000

Your profit $5,000 for loaning $30k for 4 mos!

Please invest in us! Call for more details, or email.

Thank you. 

I did it - I quit my job 3 weeks ago!  Closing on our first flip tomorrow (would have been 10 days ago but underwriting kept throwing a wrench in the spokes!) - purchased for $150k, sold for $250k in 3 mos.  

I feel the same way, want to focus 100% - I am eager and willing to put in hard work and time.  

Good tips on the 2 yr waiting thing... my husband has his own business too so hopefully that will help in this area.

Denver Area - Great house

4 bdrms / 3 baths - 2100+ sf Tri level with Basement.  Large living area, dining room, and family room off kitchen!  Nice floor plan with master bath.  Culdesac, great neighborhood.

ARV $285+

Rehab: $20k

Wholesale fee $3k

Sale Price $225k

Note this is a short sale already bank agreed on price after 2 appraisals.  Will be going on market for $245 soon if no takers!  Does back to 104th Ave but noise does not seem to be a concern.   Is currently occupied, will only show to serious buyers.

PM me for more info, thanks!

Thanks Dave  :)  it does not leak.  the house is like brand new, everything in it has been replaced, except the orig hardwood, resurfaced and restained and beautiful... all new everything else though, and a 4 car garage!

Yes we are selling. 

My concern is now it won't pass inspection from the buyers inspector then what?  What if state farm won't cover it, then we have more than the deductible to worry about paying for.  I have my original emails requesting insurance for the FLIP/rehab, wouldnt I have a leg to stand on if they were to try to say i'm not covered because it was the wrong policy type?

They knew our intent so not sure why they gave us renters policy!  They would only do a one year, which we paid for at closing, $800 about.

it shows Rental dwelling.... my bad i missed that, we never intended to rent it

Hi, so I've been here watching and reading for 6 mos now and after buying our first investment property Oct 15th we are ready to list!  YAAA - and a big thanks to my hubby who did 80% of the work, he did an awesome job!  I will post before and after pics later. But I am stressed out after receiving a call from State Farm that we have the home insured through.  They first inspected it prior to our buying it, and just today call to say the roof needs to be replaced and has weather damage!  Our own inspector we hired (as required by the hard money guys) said it was in decent shape and only needed a few repairs (also in Oct).  I asked them why it has taken them 3 entire months to tell us this, and 2, how could their inspector have a different opinion than our inspector?  I understand opinions will vary slightly but this is huge!

We are waiting to hear back from our inspector but his report clearly does not say it needs replaced.

help?  anyone ran into this before?  We certainly didn't budget for a replacement and its almost too late now anyway!

Great, we will be there!  Working on our 2nd flip now, will enjoy meeting others in the same business.