All Forum Posts by: Jimmy Dudley

Go to a mortgage broker and let him shop you around for a better rate. Odds of you getting a better rate from a private lender are low. The fact that they approved 200K more than you need has no bearing on your rate. People often need more than they thought (closing costs, etc) so banks approve a little more up front. 

Renting homes is a business. The costs are costs to the business not necessarily to you. I always keep that in mind when looking at properties. It is easy to think that you save money with the 15 year option but how long do you REALLY think you will hold this property for? 

What seems more legit when your clients google your address? Your home or some anonymous rented mailbox. I use my home address and people seem to appreciate it when they bring it up. I feel it conveys a level of honesty. 

Talk to some mortgage brokers in your area. Look here on Bigger Pockets for leads. They may be able to shop around and get you a better rate than your local bank. Your a vet that is awesome, look at buying a small multi family property with your VA. You can rehab as live there and make a decent investment.

Corelogic is the largest for a reason. But if you want to try REISource do it and write up an article about how it compares. Maybe you can get it published on Bigger Pockets. 

Pay it off Scott Trench is right, as usual. 

Talk to an attorney, there are things you can do. If it was a material defect and they knew about it you may have grounds for compensation.  You can not only ask the contractor who performed the work for the records, but offer to buy them. Funny how that works. Bottom line depends on the state where you bought it.

If you fall in love with cash only investing be prepared to lower your goals and increase your wait times. Leveraging and the associated tax benefits are the biggest reason real estate appeals to people. Its like getting the casino to back your play or borrowing money from Morgan Stanley to invest in Morgan Stanley. 

To answer your question YES IT WILL. To expand on that answer, you are transferring the cost of rehabing the property to the future tenants when you engage in teh "BRRR" method. Ask yourself this question will the property rent for the same amount after renovation that it will if you don't renovate? Probably not, rents tend to be higher in renovated properties. You can always finance the property put in tenants and wait until your investment "matures" then refinance.

One method is to send multiple mailings each month, people will know you are serious and will be more likely to pick up the phone when they decide to sell.