All Forum Posts by: Jay Vilardi

@Eliott Elias - Can you (or anyone else) elaborate on why an investor can’t or shouldn’t assume a mortgage?

I know you can believe everything you read online, but it at least appears that investors are doing it successfully.

Has anyone assumed a mortgage on an investment property who can shed some light?

As for the loan showing up on your credit report etc, is this an indication that DCR loan doesn't do that?

Thanks everyone.

Hey everyone - I'm working on a cash deal that I will use delayed financing on so that I pull my money back out. The good thing with DF is there is no seasoning period. Bad thing - you can only pull out up to 75% of appraised value and they cap you at what you spent at closing regardless of what the ARV is. I'm simplifying it a bit, but that's the overview.

My question is about the appraisal. I have seen several investors here and elsewhere talk about how they provide their appraiser with a one sheet about the property that include legitimate comps from the market. According to what I have seen, the appraiser will use the comps provided to supper a solid (and high) appraisal.

Can anyone shine some light on this? What, if any, advice or strategies do you know to help get my ARV a legit and fair outcome?

Thx!

All of us who live in the Tampa Bay area definitely feel your struggle. In addition to 7% interest rates, the tough situation we find ourselves in here in Florida is the astronomical taxes and insurance we deal with. If your property is in a flood zone, its close to impossible to see cashflow. 

Keep your eye out in Pinellas for rare opportunities of a value add or off-market deal, but also consider OOS investing. Last bit of advice - DONT ever force your numbers to make a property work. The math doesnt lie. Its ok to decide to lose money every month in an appreciation play since this area is soaring. Just be intentional with your investment.

Hey all - I know there are various Government websites we can use to calculate property taxes in a given city/state.

I wanted to poll everyone here for your methods for calculating taxes and insurance on a new property. I’m looking in Alabama.

What is everyone doing that is reliable, tried and true?

@Marcos Gonzalez Nice job Marcos. Huge congrats. I’m interested in making moves in Alabama.

How long was your seasoning period? I’m reading that some lenders still only require 3 or 6 months.

Any referrals you can share?