All Forum Posts by: Esther L.

Hello BP,

I would appreciate recommendations for trusted and tried general contractors for Flips in NC & SC (especially in Charlotte, NC, Fort Mill and Lancaster SC area) 

Thanks 

Congrats. Thanks for sharing.

Thank you so much Ms. Mindy, mine is 2800 sq ft, but I need up to 4000 sq ft to make a buildable lot, yes he's willing to sell part of the land but not sure of the process, he currently rent it out as parking but I it will generate more cashflow if we are able to buy and build on it.

Any thought? @Brandon Turner & @Mindy Jensen

Hi BP,

I am looking to buy a portion of my neighbor's land, combine it with mine and then build on it, but am not sure where and how to go about it. My land is currently not buildable because of its size, but my neighbor owns a 3800 sq f lot (which in my opinion is not been utilized). First, I want to find out the possibility of doing what I have in mind before making any commitment. The surveyors and lawyers are asking for $$$$$ without a guarantee that I can accomplish my goal.

Please I will like to hear from anyone that has done this or have information on the process.

Thanks.

 Thanks Brian, I will check it out.

 Hi Kuba,

Yes, am looking to track the job process, amount spent (cash in bank, credit cards) against budget, job stages and I guess a system that can sync with my bank account and update as the job progresses, giving a clear view of where I stand in terms of the progress and money spent.

Hi John,

Funny, I just posted similar question about the BRRR strategy, which is, how do one make sure that the house will appraise for the ARV.

BTW, how did you get a $155k house in Danvers MA? most houses I see in that area are between $300k and $400k.

Hi guys,

Is it possible to do a BRRR strategy with a 670 FICO score? I am working on my first project (scary!), got the seller to finance the deal for 6 months, with a plan of using my savings and credit cards to do the rehab. But unfortunately, I under estimated the rehab cost, hired wrong contractors... So now am thinking of using the BRRR approach as an exit strategy if I am unable to sell in a month. first, because I have to pay my borrower by the end on March and now my credit card balances are so high, my FICO score has dropped to 670 and not sure a if any bank will want to refinance the house with such a low credit score. Also, since Winter months are generally slow for Real estate, I am hoping to the best but want to prepare for the worst.

Also, how do I make sure that my property appraised as the COMPS and matches the ARV. since Banks appraisers always come back at the purchase prices?

Thanks