All Forum Posts by: Chris Haas

@David Beard
When you say this 65% LTV on this program....is the 65% on the purchase price or the ARV number?

If you bought a house for 65K, valued at 100K how much would this lender be willing to lend? Do you need to bring 35K of your own $$$?

Maybe a better example would be bought at 55K, expect 10K in repairs for an ARV of 100K.

Thanks for your time

Newbie here so just wondering, more than "answering".
Did you use zillow, trulia, or redfin so see recent sales in the area? I know it's not the same as an MLS but since you can filter on sold homes (at least for zillow) seems like you could get in the ballpark. Thats quite a lot of difference for a home that price.

Sorry not sure how I missed, My Discussions. I think I may have gone to "All Forums" instead of recent forums.

Sorry I found it. If you go to your profile, there is a "view all" near your recent posts. You may want to consider something in the menu under account. Trulia has "MyQA" in their menu. Again just a suggestion. I love the site overall.

I think it would be nice to have a feature where you could see a list of forum threads you responded to. I responded to someone else question, and would like to refer back to it to see other's answers but I can't easily find the thread anymore.

If I asked the question then I could see the responses easily. Does this exist and I'm simply not seeing it?

Thank you both for your replies. So it sounds like a wholesaler would need a cash buyer because of the quick turn around which would explain why I find it on here so often.

Actually I'm not a wholesaler...or anything yet. I would like to purchase some SFR for buy and hold / rentals. That said haven't pulled the trigger yet, and I'm just trying to learn as much as possible about all aspects of real estate investing.

I want to understand what a "cash buyer" really is. I read lots of posts looking for cash buyers. So my questions.

Is a cash buyer really using cash, or is a hard money loan or even personal home equity line of credit being used most of the time?

What makes a cash buyer so much more attractive?

Is there a certain $$$ price limit that lends itself to cash buyers? Like distressed homes selling under $20K perhaps?

Lastly does a cash buyer often not need / want an inspection because they do it themselves? I assume even a cash buyer would want / need title insurance, perhaps they would skip an appraisal.

I tried to find some answers on these forums but it just seems like everyone assumes everyone else knows why cash buyers are nearly essential.

Thanks for your time
-Chris Haas

I often hear it's advisable to setup an LLC for properties being used as rentals. It also appears lenders may not want to lend to an LLC, instead wanting to lend to an individual. Any advise for an LLC in PA when you need some (not all) financing to close the deal?

I've read a lot of the forums but haven't found my situation.
I'm credit worthy 716 was my recent score when I switched credit cards.
Strategy is buy / hold long term rental. Price targets 80K to 120K.

I have about 20K cash to use, and 50K Home Equity Line on my current house that would be available as well.

My questions:
Since I have some available cash, how do I use it most effectively?

Can you get preapproved for a $$ amount like you can when shopping for a personal loan?

Most common scenarios I hear about are roughly 20-25% down. I see FHA thrown around a lot I need to understand if this is valid if I don't plan to live in the property. I am assuming it is not.

Advice / Links appreciated, I keep googling only to find sales / marketing for get rich quick schemes.

Thanks for your time
-Chris