All Forum Posts by: Greg Dorn

Hey William, 

I purchased a duplex last April and did a live in renovation. Had never done anything like it before so I used mostly youtube to figure stuff out as I am very handy so just needed to watch and learn. I found that for each additional room I did I would add some complexity to the things I was working on. I would recommend taking which ever project is the simpler renovation and more cosmetic. Also with converting a garage to an additional dwelling unit there can be permits and zoning to be concerned about so factor that into what you would have to learn about if you have not handled that before. 

Good luck 

(here is the link to our airbnb so you can see photos)

https://airbnb.com/h/diamond-i...

I have taken tests on multiple professional licenses (most recently the Mortgage Loan Originators exam). Simple thing is to just take the required education, which sounds like you have done, and then to find practice tests and just work till you consistently get a 90 percent on them or better. I have never not passed an exam by actually learning the material from the practice tests (like 5 professional licenses in different states over 8 years). 

Hey Edgar, 

Life is all about learning new things and I just worked my way through our first 8 months of a live in renovation mostly using youtube to figure out what I was doing. Lucky for us we did get a duplex and so there was still rent coming in the whole time. The Podcast that just posted today (March 13th) is actually a great one to listen to because they talk about the first property and the learning experience. It is great if you make money but even if you don't, your action will push you to learn and do the next one with more experience. 

I decided I did not know enough about how my mortgage works so I got my loan originators license to keep growing and move more into the industry. 

Keep moving forward. 

Closing cost and fees will depend on two main factors. First is the finance company, fees vary on who the lender is. Second is where the subject property is. Recording fees and other costs are based on where the house is. 

When you write an offer there is a section that talks about what type of financing you are doing or if it is a cash offer. The seller does not see anything on loan application. There are benefits to each type of product but rules of thumb are that if you have blemished credit then FHA is usually the simplest route to qualify. Conventional is usually nicer if you have better credit because because you can still do a lower down payment for SFH and you do not have to refinance to get rid of mortgage insurance. There are also non-conventional products that have easier underwriting. Really you just need to talk with a loan officer to go over options; brokers are nice cause we usually have multiple options for loan products.

Hey Benjamin, My name is Greg Dorn and I just wanted to reach out and see if you are still looking for lending options. I have a great brokerage I am starting with next month and would love to have a pipeline of connections who would love lots of options for financing in Arizona. Talk soon.

Hey David, My name is Greg Dorn and I just wanted to reach out and see if you are still looking to build a relationship with Loan Originators. I have a great brokerage I am starting with next month and would love to have a pipeline of connections who would love lots of options for financing. Talk soon. 

@Megan Alice Still looking. Connected with a wholesaller that has a good deal and looking for a hard or private money lender. Goal would be to BRRR but still waiting on numbers. @Simon C. Honestly we want something that is Ideally a B or C with room to improve and force appreciation. 

The other main thing to consider is that evaporation coolers really increase humidity in the unit and without ventilation it can cause problems with mold. Also if tenants are not careful and there are both the cooler will kill the hvac systems' condenser. Best to just look at cost of closing the cooler and using small units. 

@Mike Delprete What was the name of the company that you used to sub meter the water. Was it a RUBS (Ratio Utility Billing Services) or do they actually do a meter?