All Forum Posts by: Kate J.

yeah, I did nothing to it, trimmed some grass in the backyard, but that's all. I am not even sure how rehub loans function. The buyer have put some amount into the renovation itself plus the purchase price. So theoretically the appraiser must appraise the value of the house after renovations. 

Hi All. I've purchased a house in a good location 3 weeks ago for 180k in cash. It needed renovations, and except the location I did not see a potential income from it. I've put it to the market and I received 2 offers for 250k in the next couple days. They are the same in their content, both use mortgage with rehub loan, and 5% downpayment. Now it feels to me that I should expect trouble. Is there any possibility that the appraiser will appraise the house for 180k? All sales in the neighborhood have been from 250k however. The closing is in 2 months, and this adds to my holding costs, the taxes are high there. I preferably would not hold it long, but is there any solution to the potential trouble with the appraiser?

hi, I have an offer on my house with pre-approved mortgage. The house needs renovations. It has dirty carpet and many things has to be done there before it will look nice. I wonder is there any chance that the bank will not finance it when it sees it? The bank is wels fargo, I think it's the most regular loan. Please suggest me if I face serious issues with this offer. 

I just purchased a house, 1100 square feet I'm the north sub of Chicago. I need to make a French drain, roof, kitchen and bathroom, some work in the basement. The last renovation was done 30 years ago. This is my first investment in single family, before I did buy and hold with condos. I would love if you share the pricing you had while renovating yours, if you could also share the contacts... I am looking for the cheapest renovation it can be possibly done...

My credit score is excellent. But do you guys use LLC for this? I don't know details (but really want to learn), some people to this through LLC, and others take a personal loan. 3.5% is very good for fixed loan. For how many years was it fixed?

I am thinking on purchasing 7 unit building, and have 25% of the price. Do you think I am qualifiable for a loan? What would be approximate percent per year? Who are the main providers? I hear large banks as citi do it, but is this the best way to go? What the banks will look for in my application?

2 br apartment. I would love to have some concrete examples, maybe out of my state

Hi, I am new to BP, and to real estate investing. I was studying Chicago area, but still did not decide what is the best for me. I will close soon an apartment I've got on hubzu. It seems like a good deal to me. What is the best in terms of loan? Commercial property like multifamily building or residential with up to 4 units? How much pain will I get with having say 20 units (just theoretically speaking) located in several places in the city vs 20 units in one residential complex. It does look to me that the separate units cost 20% less then those which are in a multifamily building. Thanks to all in advance.