All Forum Posts by: Daniel Fisher

Hey! Parkesburg is a good little town and there are some good areas to rent there. It is a high tax area and warrants caution. If you do “permitted work” your taxes will likely go up. I’ve had one where they went up dramatically!

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That is certainly a viable strategy. There are some very hot neighborhoods in your area. Since the layout is similar of the other house, the most important thing would be that the lot configuration and desirability is as good or better. Good Luck!

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I have had fees close to this on a similar price range. Seems the bank threw in extra fees to account for the small loan...

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@Steve Babiak this was a meeting I didn't want to miss. Also, if I'm riding the train I get to catch up on some bookwork. Lol so I was able to gain in more ways than 1.

It was a pleasure meeting you again. I also did get to speak with Dave Van Horn and Don Rotanz. And many others.

As it always is when you are at DIG, you are in great company.

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I just wanted to put this out there for those investors that might want to hear what @David Krulac has to say about real estate. He has done many deals in many different ways and is very knowledgeable about all things real estate. It should be a very interesting evening.

This is a local meetup of real estate investors called Lancaster Remig and it is always free. It is held on the third Thursday of the month at 7PM on the 2nd floor of Lancaster Bible College. The address is 901 Eden Rd, Lancaster, PA 17601 and everyone is welcome.

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Wow that brings back some memories. I did that type of construction for 13 years.

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Originally posted by J Scott:

For FHA, it's going to be more of an appraisal issue. You'll likely be able to sell it for whatever the appraiser says it's worth, but the appraiser will probably not say it's worth more than you paid for it if you haven't done any work and little time has passed. And even if the appraiser does raise the value, the underwriter can do whatever they want -- it's their butt on the line if the loan can't be sold.

Also, if say I do wholesale this to another flipper, won't he run into the same issue?

If he tries to resell to another FHA or conventional buyer? Absolutely. In fact, he'll have more trouble reselling because of the extra title transfer.

So how do I make a profit if I don't want to hold for a long time and I don't want to pass resale issues on to another investor?

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Just a thought of using percentages and if I have a higher base then I could stand to profit more on the bottom line.

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In PA if you transfer a property from your name to your LLC you will have to pay transfer taxes.

Something to consider if the property is in PA.

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So I guess another solution would be to just tell the seller that I screwed up. And offer her more...

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All Forum Posts by: Daniel Fisher

Daniel Fisher has started 7 posts and replied 89 times.

Post: Looking for opinions on Parkesburg, PA

Post: Wholetailing

Post: closing costs too high?

Post: Philadelphia BP'er going to first DIG meeting, anybody want to come?

Post: David Krulac to speak in Lancaster, PA Thursday Aug 15

Post: Diary of a New Construction Project

Post: Selling flip with significant price increase with little work done.

Post: Selling flip with significant price increase with little work done.

Post: Purchase in my name then transfer to LLC or buy with the LLC?

Post: Selling flip with significant price increase with little work done.