All Forum Posts by: Gurjot Grewal

Thanks for the advice, everyone. Have decided to move forward with this property. It has a few things that will eventually need to be replaced or updated but I'm getting a great price and what house doesn't lol. 

@Account Closed

77 feet, cast iron and clay pipe. Home is built in 1952 on a slab. Findings are "Typical Root Intrusion", "Openings or inconsistencies noted in sewer line, signs of settling" recommendations are regular inspection and maintenance.

I'm not well versed on plumbing. How does this sound? I'm assuming the cast and clay pipes will eventually need to be replaced. In the video there were no large obstructions that I noticed. In the residential disclosure the sellers wrote that the main sewer was serviced in march 2020 and cleaned in march 2023. The inspector was told by the tenants that they got it cleaned a couple times. The video still shows some tree roots even after cleaning. But the water seems to be flowing well, no breaking was found and I'm told that no immediate action is needed.

77 feet, cast iron and clay pipe. Home is built in 1952 on a slab. Findings are "Typical Root Intrusion", "Openings or inconsistencies noted in sewer line, signs of settling" recommendations are regular inspection and maintenance. 

I'm not well versed on plumbing. How does this sound? I'm assuming the cast and clay pipes will eventually need to be replaced. In the video there were no large obstructions that I noticed. In the residential disclosure the sellers wrote that the main sewer was serviced in march 2020 and cleaned in march 2023. The inspector was told by the tenants that they got it cleaned a couple times. The video still shows some tree roots even after cleaning. But the water seems to be flowing well, no breaking was found and I'm told that no immediate action is needed. 

This is for a cash offer. The sellers have come down in price but I'm considering waving my appraisal contingency in order to further negotiate. The inspection came back and I'm good with the property. Nothing serious just that some cap ex-items (roof, furnace) are nearing the end of useful life and need to be budgeted for. The plan is to refinance this property in 6-12 months. 

@Dustin Allen

@Eliott Elias

@Brad S.

@Nicolas Looman

Thank you everyone for your replies. This is very helpful. 

Hey BP, when buying all cash is there anything I should be looking out for? Money will go to the sellers title agency. This is for a buy and hold that I will get delayed financing on. 

-any tips for verifying title is legitimate? Is a phone call typically enough for you? 

-Ill need to get title and home insurance. Anything else?

-Should I bother with an appraisal if I believe Im buying below market based on comps. 

Anything else I should get or look out for? Thanks!

Hey BP,

I’m starting a business to help fund my RE investments. Looking for a suggestion on books that can help with understanding; marketing, attracting and retaining employees, systemizing, scaling. 

Maybe context to what I do would help, I work in the injury rehab field and theres alot of demand for what I do where I live. Im currently working in a private healthcare clinic but am looking to transition to mobile, going to peoples homes(eliminate overhead, and more convenient for patients). Once I have more patients than I can handle I would be looking to hire out. 

Hey BP, im looking to do a BRRR. I have enough cash to purchase a fixer upper SFH in my market of choice. I could also use a personal line of credit to fund the rehab if needed.

The other option is a HML. They finance 70% of ARV and 100% of the rehab. But the fees and the monthly interest would add up quick if the rehab takes longer than expected.

This would be my first BRRR. At this point I'm not worried about scaling I just want to get in the game. It seems like cash would allow me to get a better purchase price, move slower with the rehab and give me more flexibility. Either way I would refinance the property after rehab.

Would love your opinions or advice. Thanks.

I have been looking for a duplex to purchase. Im a Canadian investing in the Us. Due to this my financing options are limited. I have had a hard time finding the right multifamily property at the right price. The market iv chosen is still very competitive. 

I’m thinking about adjusting my strategy and targeting more single family homes. I have about 90k cash to invest. I would purchase all cash, and take out a personal line of credit to use as the rehab fund, interest for this would be around 8% but I would only take out what I need and pay it off as I go. I would look to target lighter rehabs in the range of 20-40k.  

The other option is use a HML who will lend on 70% of ARV and 100% of rehab. But this comes with a high interest monthly payment and well as lots of other fees. To me the all cash seems to make alot more sense. What does BP think? Would one be riskier than the other ? With both I would refinance with a 30y fixed loan.

My realtor sent me a video of the walk thru. (remote investor) Its a 1500sq foot duplex. Early 1900 build. One side occupied one vacant. Property needs all new everything. Was originally budgeting 60k for rehab. Upon initial walk thru the vacant side basement has lots of cracking. Each wall pretty much has either, vertical, horizontal or diagonal cracking. Some parts of the foundation are showing daylight. But hard to see if theres any bowing occurring. Realtor suggested 10k budget for foundation. Not able to view occupied side unless under contract. 

I would of course get a structural engineer during my inspection period, and this could be a great discounted deal. But I am a novice. And do feel that 10k wont be enough for this. Not sure if I should pursue this.