All Forum Posts by: Jermaine Chad Ingram

You haven’t accounted for taxes 

Your property tax looks a bit low at 1%. Especially after reassessment 

Who’s gonna give you 100% financing @ 5+%

Are you looking to invest in tax lien certificates or tax deed auctions for physical properties 

@Chase Hoover btw I found a great contractor who’s also an investor in Fort Pierce.

@Chase Hoover of course! Good morning! I’m actually driving up to FP today with a friend that I want to turn into an investor. It’s a great area.

The fact that the market is so hot that you have to pay up that much for the house should tell you it’s not a good deal. Your purchase price is way too high. $165,000 x .8 = $132,000. From that you’ll subtract you repair cost. Say 15,000 in repairs - the $132,000 = 117,000 as a top offer. 

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Fort Pierce is close to the beach

If you don’t have a contractor by the time you close the deal then you’re gonna be suffering holding costs from that hard money lender, taxes, lawn or snow maintenance etc 

you’re gonna need to find your house your financing and your contractor, you should have three or four contractors, all at the same time man

It’s not baseball it’s juggling 

Read Bigger Pocket “diary of a new Construction Project” J Scott  it’s step by step