All Forum Posts by: Ihor Kucheynyk

Thank you @Issac San Miguel and @Stephanie P. you're right, I guess the best way is to go through the bridge loan route, I have a bunch of paid off LTR properties that are paid off and won't sell fast.

@Stephanie P. you're absolutely right. This is a beach multifamily, across the street from the beach, should make it perfect STR, it's probably the best deal in a while, 75% of the ARV is probably impossible in this market as the demand is still so high

Sellers want to close as soon as possible, sounds like they're in court splitting it, local appraisers are way too slow, last time I closed they took 6 weeks to appraise.

The property is structurally sound, however needs a new roof and a lot of finishing work to make it STR worthy, currently rented long term

I believe it's gonna be worth $1,400,000 after putting about 120K into it, and the sale price is 1,000,000

Sellers don't wanna deal with any repairs and looks like each of them just wanna get their fair share

The property is in prime location, across the street from the beach

You're talking about a bridge loan colaterized by another properties? this could work actually, I have few paid off properties that could be collaterized

Hey BP community

I'm looking for a DSCR loan, I'm negotiating a great deal in the prime location, which I believe is under market value, the lender needs to be able to appraise the deal in house as traditional appraisals are taking too long and not gonna work in this case

Will apreciate any help

@Mason Moreland, thanks a lot!

I ended up going to the city and checking with storm water management specialist, he said the storm water is flowing through that lot and if I build I have to maintain it to allow the water to flow, otherwise in case of good enough rain entire neighborhood can be flooded and angry neighbors may sue me 🙂

So I passed

Hello Everyone

I'm looking to buy a standard lot which is a buildable (as far as county says) has it's own address, is zoned single family.

The wetland on it is isolated and there are many houses around the lot, the neighborhood is established.

Seller has a permit from Florida environmental protection, allowing to build a SFR with a plan to keep part of wetland on the backyard. The permit also states I'm suppose also to get approval from US Army Corps of engineers, which I struggle to contact with.

Have anyone dealt with this situation? Any pitfalls buying this?

I would appreciate your comments

Well, ripoff was not the right word to use :) I meant too expensive

I ended up closing on it.

Appreciate everyone's help!

Hello Everyone

I'm looking to buy a standard lot which is a buildable (as far as county says) has it's own address, is zoned single family.

The wetland on it is isolated and there are many houses around the lot, the neighborhood is established.

Seller has a permit from Florida environmental protection, allowing to build a SFR with a plan to keep part of wetland on the backyard. The permit also states I'm suppose also to get approval from US Army Corps of engineers, which I struggle to contact with.

Have anyone dealt with this situation? Any pitfalls buying this?

I would appreciate your comments

Thank you guys, this is very helpful!

Hello BP community

I'm in the process of buying a duplex in Florida for $350K with 25% down. Lender quoted 3.62% with 2 points for investment conventional loan (non owner occupied).

I Just got a loan estimate which is showing closing costs are $18K, loan costs itself are $11K, this is the most expensive closing costs I ever had.

Is this loan a ripoff and I should shop around? I would appreciate you opinion.