All Forum Posts by: Emery Taber

Has anyone seen a video, pictures, or post of a house walk through that shows a property and then puts down the exact amount the rehab costed later? I ask because it would be very beneficial to see a video or pictures of a property that needs a rehab that I could go over my rehab estimate then compare it to what someone actually paid that was broken down in categories (plumbing, electrical, drywall, paint, floors, etc.)

@Kyle J. Okay so if I was doing a BRRR deal I would cash out refinance after 6 months, ~70% ARV and pay off the Hard Money Loan? Also, so regardless of the loan length you divide by 12 because loan interests are based annually?

-You pay off the interest from the loan monthly and then have a balloon payment with the amount the load was given.

Example: I get a 100k 18 Month loan at a 15% interest rate (115k total 100k loan 15k intrest). So I pay $833.33 a month (15k/18mon) and 100k at 18 months?  

Bonus Question: I always hear that the normal seasoning period for a Re-Finance is 12 months and I also hear that most Hard Money Loads are for 12 months. Doesn't that guarantee that you will be late on paying off the loan because you wont get the Re-Fi until after the loan is due?