All Forum Posts by: Jordan J. Osborne

Thank you for all the help!

Thank you Caleb and James! I'll bring that up to my agent today!

Thank you Joaquin. I'm speaking to a local lender today to find out what he thinks my best options are. I have always been hesitant to consider hard money until I understand it better so I'll stay away from it for now. Yeah, this property is right by Springfield and out of the few times I've toured it, my agent and I don't see many issues that aren't cosmetic. I'm walking through with my contractor today. So we'll see if he finds reasons that it wouldn't pass the strict guidelines for a VA loan.
Thanks for the reply Jaron. I was going to bring up to my agent that we still offer a certain amount in a VA loan and say that if we can't complete through the VA loan, that we would have to offer less, since there will be many more costs associated with not using the VA loan. 

Hello! I recently found a good opportunity in Virginia to buy a property and I had been planning on using my VA loan since I'm not in the position to save $100k+ for a down payment. Does anyone have any advice on how to still secure this property? This will be my first investment property so I'm not sure what the best route is. Should I still try offering a VA loan purchase? Secure a hard money loan and then refinance? Is it possible to refinance a different loan into a VA loan? Thanks for any help!

Hey everyone, my condo HOA has approved a special assessment to put HVAC in our units. I am cash poor so I was considering getting a home improvement loan to cover the 9k. I don't know about this though and was hoping someone could guide me toward my best options. Thanks for the help!

@Andrew Gammon I won’t be able to rent it out so I’m going to be selling within the next year.

Hey everyone, 

I live in a condo in downtown Salt Lake City, which I was planning to rent out here soon. Well the HOA has decided that all three buildings need a replacement of the boilers and chillers (which I agree with) with an HVAC system in each unit. Through this special assessment, I would have to front about $7,800 dollars. At the same time, I found out that I am third on the waiting list for my floor to rent out my unit (they only allow 2 units to be rented per floor). With this information, I plan to sell the condo within the next 8 months. Should I vote to change the heating/cooling to an HVAC system? Or should I save myself the money upfront and vote against the replacement? I've heard the HVAC will add value to my unit, but I'm not sure if it'll be close to $7,800. The cost to put in an HVAC system is about 4% of the home value.

Thank you for all your help!

@Larkin Adey That is actually very helpful. I've debating on renting vs selling the condo because of the HOA. I need to give the calculators a good look and spend more time searching for a deal.

Thank you all for your inputs here! They are greatly appreciated.

@Shane H. I haven’t looked much into it but I imagine I would struggle to get lending for something that expensive. I’ll definitely look though!