All Forum Posts by: Jack Schwartz

Angela, refinancing your property at the current lower rate (Today's 15yr fixed purchase rate: 6.8% APR) can fund a down payment for another property, enhancing your portfolio.

Real estate typically appreciates over time, so it's wise to hold onto investments unless you have a real reason to sell.

Good luck on a wealth-building journey,

2 Votes

San Diego, California

Private lenders offer expedient financing, use them wisely for their potential advantages, particularly in situations requiring immediate funding, yet be aware the high interest can reduce profits,

0 Votes

Wishing you success in your venture, Yong. I recommend utilizing the comprehensive Rehab Cost Estimate Calculator provided by BiggerPockets. You can access it at this URL: https://www.biggerpockets.com/rehab-estimator

1 Vote

Fairfax, Virginia

Quote from @Kristine Ann:

I think it's great that this post is basically pinned to the top of the tax lien and foreclosure forum. He's lucky there weren't mountains of rotting garbage to deal with. The place actually looks nice and clean. I'd rather no toilet than the opposite worse-case scenario.

People need to be informed of the risks. A lot of the tax deed auction houses I see need to be demolished. I occasionally will get one and restore it as a labor of love, but they are all in very rough shape.

I wonder if he dealt with occupants differently, they wouldn't have destroyed the place.

It’s challenging to understand how someone could allow their property to be sold at a tax deed auction. Consider a scenario where a person owns a house valued at, for instance, $100,000, and they owe the town $40,000. It’s unlikely that they would let go their property, allowing a debt of $50,000 to eliminate an asset worth $100,000. If they do decide to let it go, it usually indicates that something significant is happening. Perhaps the house isn’t even worth $50,000. So, as Kristine pointed out, it’s crucial that people are made aware of the risks involved. Many of the houses I’ve seen at tax deed auctions are in such a state that they need to be demolished. It’s a complex situation that requires careful consideration.

2 Votes

Toledo, Ohio

Thanks Brendan,

0 Votes

Akron, Ohio

Mavely, I typically steer clear of Hard Money Loans (HML) when it comes to BRRRR rehabs due to their steep interest rates, which range from 9% to 14%. Such rates could take a significant bite out of the profits. With that in mind, could you advise on the most straightforward and fastest method to refinance a BRRRR? I appreciate your help,

0 Votes

Akron, Ohio

Hi BiggerPockets Community,

I've got 200,000 earmarked for investment, and I'm looking to dive into the BRRRR, or the Fix and Flip strategies, My focus is rather on a few smaller properties in upstate New York—think Orange, Sullivan, Delaware, Ulster counties, and the scenic Borscht Belt,

Any tips or recommendations? I'd love to hear from you!

Best regards, Jack

0 Votes

Upstate New York, New York

Welcome aboard! Wishing you all the best on this exciting journey. There’s a wealth of knowledge to be gained here on the platform, and I’m confident you’ll learn a lot. Enjoy the ride!

0 Votes

Houston, Texas

Quote from @Christian Maher:

Hello Everyone,

I'm looking for some advice here, I bought a home in Cuyahoga County late last year for 64k through a tax lien sale. It's 3 bedrooms and 1 bathroom. So far we have dumped 70K not including misc fees like insurance, utilities and other stuff. So the house wound up needing the drywall, kitchen, bathroom, roof to the garage, Plumbing, Gas and other stuff done. I have been told by several investors that I was overcharged but I guess at this point it is what it is since I have already almost finished everything. I'm completely fed up and I am trying to figure out if it's worth keeping to rent out or if I should just cut my losses and sell it. It's still only 3 bedrooms and 1 bathroom and I am in the hole about 140k and fair market value is about $145K-50K. I welcome all thoughts regarding the situation.

Hi Christian and BP members,

You bought a property through a tax deed or a tax lien sale. What if the original owner pays their debt and reclaims the property? How do you handle that potential risk?

I’d appreciate your insights on this matter.

Best,

1 Vote

Cleveland, Ohio

To freshen up your walls, Spare White is the way to go. It's like a burst of light for any room and pairing it with Ultra-Pure White for trim and ceilings will give your place that crisp, modern vibe.

If you got natural wooden cabinets, A new coat of Powder Blue will make them pop—just make sure you strip the old paint first.

And hey, no one's into old bathtubs, so yank that out and get a new one.

People like spacious rooms that are bright and breezy, and a clean look,

Hope this helps you out!

0 Votes

All Forum Posts by: Jack Schwartz

Jack Schwartz has started 9 posts and replied 105 times.

Post: Cash Out, Sell or Stay Put?

Post: Looking for lending options for fix and flip!

Post: Seeking Insight on Rehab Costs for a Property to Prepare for Sale

Post: Everyone wants to buy a foreclosure until they get to see inside the property

Post: BRRRR in Akron Ohio

Post: BRRRR in Akron Ohio

Post: Seeking Insights for Upstate New York Real Estate Investment

Post: New member introduction

Post: I purchased a home to BRRR in Cuyahoga County and I need some advice

Post: To Paint Trim & Doors or Not