All Forum Posts by: Jason Hatfield

Thank you all for the help.

I didn't consider blown in but will look into it immediately.  

Otherwise I'm leaning towards rip down and fiberglass.  Not only might it be the cheapest option but it will allow me to see everything in that space that WASN'T done correctly.  

If the former owner was either dumb enough to sheet rock without insulating OR simply decided that this was an acceptable corner to cut, who knows what else was missed or skipped.

Thanks again guys

Here is a question for you experienced rehabbers.  I'm working on a deal for a split victorian with two bedrooms connected by a small hallway in the former attic space.  The problem is they drywalled the entire area but stupidly never insulated the ceiling and walls.

The drywall is in great shape so I would hate  to rip it out and have to redo it only to put fiberglass insulation in.

I could try to take it down but salvage the existing drywall and attempt to reinstall it but even if I could locate and take out all of the screws its probably more effort than it's worth.

The other option I have is slow rising spray foam.  This would only require patching the drill holes in the drywall when all is said and done but I've never used this stuff and it seems very expensive.  

Has anyone crunched the #'s on this before?  Was the cost of spray foam more expensive then the cost to rip down, fiberglass and rebuild?

This is a rental so while I want it done correctly every penny does count.

Thanks as always!

Hi Madrienne,

I may be very interested in this. Would you message me with more details? Do you have an ARV? Rehab estimate?

Look forward to hearing from you

Hello CT,

If anyone is interested I'm in town today visiting friends and attending the 29th Annual Running of the Hartford 10B (10 Bars) Pub Crawl.  Come out for a beer if your around.  PM me for details.

Thanks Terry & Mary!

Quick question for all you Wholsalers.  When you are determining an offer price are you subtracting the average costs of hard money?

Example:

ARV is $100K

Max Financable is 65% or $65K

Repairs are $20K

Are you then simply offering $45K or are you further subtracting for things like cost of money, closing costs, holding cost, resale costs, etc

Thanks

Can anyone offer a reccomendation for a great Home Inspector in Kennett Square, PA.  It's lower Chester County.

Thanks!

Thanks guys.  

Wayne, you hit the nail on the head.  This was a reccomendation from an attorney friend who was looking over the contract as a favor.

I've never done a deal in the way he was suggesting so I reached out to BP, my Attorney, and my Title Co.

In the end it took a four way call with the Attorneys to get the seller to agree to the Sub2 deal. Everything is approved and paperwork is in the mail.

Deal saved!.. For now :)

Thanks as always

All,

I'm negotiating on a deal and the sellers attorney advised him that instead of going subject to for 1 year that we do a wraparound. So essentially this would involve us closing on the sale but having all of the documents held in escrow as opposed to being recorded publicly.  After the 1 year term I would refinance the property and cash out the seller.

My question is this.  After six or nine months will a conventional lender consider the title seasoned?  

Are there any other factors I need to consider with this scenario?

Thanks as always

All,

A good friend of mine is looking for a 2+ bed 1.5+ bath in Jessup, MD.  He is an Army Vet with a new born and is dead set on Jessup for the schools.

I don't know this market as it's outside my area. They are looking for a property with an ARV of $200,000 to $250,000. They will consider a SF, Townhouse, or small multi family. Obviously a multi family would change the above #'s.

Please message me with anything you have that falls into this category.

Thanks!