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All Forum Posts by: Gary Fischer

Gary Fischer has started 6 posts and replied 37 times.

Post: WANTED - Your design Input on 1950 Ranch

Gary FischerPosted
  • Real Estate Investor
  • Parker, TX
  • Posts 37
  • Votes 3

Also since you said in that climate shade is not essential I have used sunshade fabric on tracks attach the underside of the top of a wood pergola type structure with a way to pull the sun shade material out on the tracks so that you can have it shaded or open. 

Post: WANTED - Your design Input on 1950 Ranch

Gary FischerPosted
  • Real Estate Investor
  • Parker, TX
  • Posts 37
  • Votes 3

I agree with what everyone has said here on the arches and fireplace. I am about to wrap up a rehab now that had incredibly soot covered brick on the outside and stained. Even after scrubbing the brick was just discolored. There was a white mantle, also stained, and natural brick. We used a stained technique on top of the white mantle which looks very much like natural stained wood now. There are wood beams on the ceiling in the living we did the same with. We painted the brick white and are going to spray the inside of fireplace and screen with a high heat black paint but have't done that yet. Finishing wood floors in this one...probably 7-10 days to go. 

On the awning, yes, get rid of it. I would build something like a wood pergola and lay sunshade fabric on top, stretch it tight and put strips of wood on top of that and screw it to the top. 

Post: Reasonable Hard Money Lenders..Suggestions?

Gary FischerPosted
  • Real Estate Investor
  • Parker, TX
  • Posts 37
  • Votes 3

 Then we're good I guess. Thanks for all the replies. Mine ends up being a good deal then. And it's true, you have to weigh it against profit and it's not that much..The price you pay not using cash :-)

Post: Reasonable Hard Money Lenders..Suggestions?

Gary FischerPosted
  • Real Estate Investor
  • Parker, TX
  • Posts 37
  • Votes 3

@Account Closed

Thanks for the reply....I have good credit but 6 current mortgages so it gets tough taking on new ones. Since this is a flip I guess I just have to give up a little. Rates and points are high compared to traditional but I'm over the limit on traditional mortgages

Post: Reasonable Hard Money Lenders..Suggestions?

Gary FischerPosted
  • Real Estate Investor
  • Parker, TX
  • Posts 37
  • Votes 3

guess what I am trying to clarify is 10.5% interest rate with 3 points on a 1 year term a decent offer? I have never used hard money lenders on a purchase. I have an LOC I could do it with that's at 9.99% but they hit me with 4.95% up front

Post: Reasonable Hard Money Lenders..Suggestions?

Gary FischerPosted
  • Real Estate Investor
  • Parker, TX
  • Posts 37
  • Votes 3

Just an update and clarification on the hard money deal I am trying to beat. 10.5% is the actual interest rate with 3 points on a 1 year term. 

Post: Reasonable Hard Money Lenders..Suggestions?

Gary FischerPosted
  • Real Estate Investor
  • Parker, TX
  • Posts 37
  • Votes 3

@Account Closed

Well, better than 13% and have to compare closing costs

Post: Highest bidder on Homesearch.com auction, what now?

Gary FischerPosted
  • Real Estate Investor
  • Parker, TX
  • Posts 37
  • Votes 3

I have seen a number of people who have closed and I have yet to close my first. However, that was due to my not having financing lined up on time so they extended. You won't have a problem closing with them. That's Nationstar and they want the property out of inventory

Post: First month as an agent, $834k pending, $135k sold

Gary FischerPosted
  • Real Estate Investor
  • Parker, TX
  • Posts 37
  • Votes 3

Definitely, I am not an agent now but was and open houses is the best way to draw them in. Frustrates me when I hire an agent and they don't do them.. I won't again with them if they don't

Post: Reasonable Hard Money Lenders..Suggestions?

Gary FischerPosted
  • Real Estate Investor
  • Parker, TX
  • Posts 37
  • Votes 3

I've just gotten into flipping and unfortunately don't have the means to go all cash now but have excellent credit, experience in long term rentals, assets, and I need a reasonable hard money lender to work with. I'm closing on a house for $160,125 that is move-in ready. A reasonable estimate is $270k on the current condition. Rehab is not required but I want to change the house with a rehab in the $30k-$50k range. I may only increase the value the cost of what I put in but it will make the house sell faster. I'm being quoted in the range of 13% on hard money and that seems high. I won't be in this house more than 6 months max...I will get it done and have it sold. I am looking for quick close hard money for the property. Any suggestions appreciated...Currently have 6 mortgages, A primary residence...4 long terms rentals, one of which is about to go on the market and an investment/second home/vacation rental. Appreciable equity in all except the vacation rental which is about $740k right now and owe about $650k.