All Forum Posts by: Gerardo Dominguez

@Melvin McMillan  Definitely shop around for hard money lenders before settling on one.  And make sure to ask about their other fees; closing costs/ upfront points/ etc.  Hard money lenders are expensive so make sure you factor in all their costs into your analysis.  Good luck!

@Max Shepherdson  If you're looking to move anyway and you're sure the land value alone will appreciate at that rate over the next 2 years I think you should just move in.  While you're there you can add value by doing some rehab work.  Then in 2 years you can sell and avoid paying capital gains on any realized profit.  Whatever you decide, good luck!

@Sarah Ziehr  Absolutely!  Thanks for the value-add-listing tips :)

@Blake F.  Good point about the egress.  Someone reminded me of that yesterday.  I'll look into that to see if it makes sense to add to my repair values.  Thanks!

@Crystal Smith As always you are a wealth of knowledge :) I didn't know that was an option on the MLS. I'll ask my realtor to add that to my comps. Thanks!

@Mark Vejnar   Thanks for the info.  And thanks for the tip about the appraiser. I should've thought of that.

Hello fellow BP'ers :) I need some help analyzing a potential flip. It is currently a 2/1 but if I go through with it, I would make it a 3/2 by finishing the basement.  It's in Villa Park, IL (Dupage County).

I'm not clear on how to value the basement BR's and BA's.  Can anyone answer the questions I have below? Thanks!

1. How do I get basement BR/BA to count towards the appraisal value?
2. When I sell, can I legally advertise the basement BR/BA on my listing?

@Dave Meyer  Thanks for the analysis.  Definitely food for thought :)

This is a great addition to BP.  Thanks for making this update!

@Lane Mobley  Welcome to BP!  It sounds like you already have a plan and team in place.  Plus, it sounds like you have your wife on board so that's a huge advantage.  I wish you both luck.  Thank you for your service!  Keep us posted :)