All Forum Posts by: Kaleena Felipe

Hello,

I am in the beginning phase of a new construction investment property. I have a builder contract that I need reviewed before I sign. Are there any lawyer recommendations that can review?

Thanks

Kaleena

Hello,

Me and an investment partner just went under contract on some land that we plan to build 3 duplexes on. I am in search of a contract lawyer that can help draft a partnership agreement for the project in Texas.

Thanks

@Brian Williams

Is this your primary residence ? Are you able to rent out a home with a USDA loan? From what I just read you are required to live in the home for the life of the loan?

@Todd Wheatley great advice I got today from the plumbing company that will be trenching to get to broken sewer pipes. Is to get a pre plumbing test before the foundation work and a post test. I have two properties that have had foundation work and both are requiring over 10k in plumbing repairs for broken/leaking pipes. Also have plumber do tests before the foundation company closes the holes in the foundation.

@Greg Dickerson how should I ask for the offer to be structured? The sales price is 560,000. I need as much as possible for down payment assistance. If I use their preferred lender they will cover owner's title policy. How much can they provide for down payment assistance towards a FHA loan?

@Mark Bookhagen this is my first time purchasing a home as a realtor. If I use the commission for closing or down payment for the purchase is it still income? I will trying to purchase this home using a FHA loan.

I am in negotiations of purchasing a 4 plex to house hack. Is it typical that developers do not pay realtor commissions to a realtor who is personally buying the property? The developer has agreed to pay 1% commission to me or a upgrade package of grass, garage door openers and a small extended slab? Should I negotiate for a larger commission? He originally said it would be 2% on a 560,000 purchase price. 

Hello I am a realtor in San Antonio and also an investor myself. I would love to help you find a great deal in San Antonio

The project has not started yet. @Jonathan Bombaci. after talking to the bank, I believe he needs that money for HIS loan? 

I need some help. I am trying to purchase a 4-plex. The purchase prices is 565,000. The builder is requiring a 60,000 downpayment (construction loan) because he does not have the cash to complete the construction. I don't have the 60,000 downpayment but wanted to see if there are any creative financing option? I own a investment property (that is rented out) free and clear that is worth about 130,000. The builder referred me to his lender who said they may be able to do a construction loan for 15% and possibly I can get some of my capital back depending on how the loan is structured?

I want to purchase this property with the least amount of capital. I also plan to live in one of the units. The units are expected to lease for 1450 a month. 

Any suggestions?