All Forum Posts by: Evan Stamps

Thank you everyone for the fast replies. As many said, I was able to back out and still receive my earnest money back. All good! @Sherry McQuage good tip to compensate the contractor!

Would appreciate some quick help here - I'm under contract and wondering if I can back out during my inspection period prior to even having the licensed inspector come? My contractor walked the property with me yesterday and we found obvious costly issues that make the home a bad buy and the current tenant gave us insight on big issues with the property. I would prefer not to pay for a professional inspection knowing I will back out anyways. The house is in CT, I know a lawyer is the best answer but any general answer here would help out. Thanks!

thanks for the explaination!

Hi BP - needing advice. I'm trying to lock up my first wholesale contract and competiing with another buyer who is offering a Cash Advance of $10k to the seller. Reason is the seller is wanting to buy a vehicle before closing so they can be ready to move. How can I compete with a cash advance offer? Also, would like to better understand how the cash advance process would work - this seems risky.

Thanks!

@Andrew Merewitz glad I found this thread. Working through the same issue with my first investment property in Jacksonville. How did the refi out of your HML turn out? Any learnings worth sharing?

Hey BP! First post and appreciate any and all help - I'm looking for advice on the financing and refinancing logistics of buying a brrrr property with a hard money loan. I'm seeing that most HMLs only lend to business entities which would require me to buy the property under my LLC. I'm also seeing that there's challenges with most conventional lenders refinancing to a mortgage when the property is held in an LLC.

Any suggestions about how to tackle this situation smoothly or potential options to look into?

Thanks!