All Forum Posts by: Fred Stevenson

Anyone recommend a good inspector in Germantown area.  

Also, I'm looking at buying a 3bd 2bath corner Row house in Germantown area on Matthews St.  Here are the #'s, please let me know what you think?

purchase price 35k, rehab costs 70k (complete gutting head to toe, high end rehab, new roof, electrical, plumbing, hvac, flooring appliances, countertops, paint, drywall, bathrooms, lighting, etc), estimated ARV 150k. Estimated rent 1350

3 month rehab job.  

Can you anyone recommend a good inspector for the Germantown area in Philadelphia. 

I put 20% down and got a 30 yr conventional fixed except for two properties. The other two needed a lot of rehab so I preferred a commercial loan on those two. I went the commercial loan because they were willing to loan up to 80% of the ARV which covered the entire purchase price plus some of the rehab.

The rate on the commercial loan was about 1 point higher and fixed for 7 years on a 20 year amortization schedule. 

@Dan Piercy What would you like to know?

I've already used commercial loans on a couple of properties.  The main reason I'm interested in the residential loan is I prefer the 30 year term with a lower fixed rate.  It's better cash flow, and an artificially super low rate right now. 

I have seven properties with thirty year fixed residential mortgages. So I have three left to go before I'm forced into using commercial loans. I'd like to shop rates for 30 year fixed loans to finance SFR's in Baton Rouge, Louisiana. Can anyone recommend a mortgage broker who can help me find the best lender with the best rate. I hesitant to use sites like "Lending Tree" because they run a credit report and then you get bombarded with 8,000 emails, and most of the emails are from big banks that won't even finance investment properties.

Also, I'm looking for a good lender in Philadelphia, PA to finance an investment property with a 30 year fixed loan.  Any recommendations would be appreciated.

Hello everyone, 

I need a good property manager in Conroe, TX to place a tenant and manage a four BR 2 bath 2 year old house.  Does anyone have any solid recommendations.  

I did receive another set of payments from Bradley Lewis after the checks bounced that covered promised rents through August.  Maverick Investor group paid me the difference in rents owed to me. 

@Sara Nobles and @BreAnn Stephenson

Thanks for the feedback.  The property management company I was using for this tenant did not require renter's insurance.  That property management company had a meltdown and dissolved

Thanks for the advice everyone.  It seems that the decision is obvious.  It's actually hard to believe that we are forced to carry insurance and pay premiums, but then if one of us ever needs the insurance we get screwed.  What a scam.