All Forum Posts by: Kate Porter

Thanks @Moshe H.!

 Hi Jim, it's in Bethehem.  I'm still trying to see if I can figure out a creative way to finance this but if not, I'd be happy to share the info with you.

Hi Moshe, I actually was able to find someone to go by and she did a fantastic job taking photos, asking questions and gathering info.  After speaking to him, it seems he would not go down to $100K but would do $120. It needs some work but he's going to do a good portion before selling it seems.  

I'm a new investor and have been looking for a place in a desirable location where I could turn it into an STR and keep it as a vacation home. I found some folks who are considering selling a fixer-upper in a GREAT location in the White Mountains of New Hampshire (with a fantastic STR market). There are not a ton of houses for sale in this area and after doing a cursory search, don't see any in foreclosure (at least on Zillow) so I see this as a great opportunity.

There is a couple who recently bought a fixer-upper (5 BR, 3BA) in the hope to rehab it and use it as a vacation home.  It needs a lot of work and they've already spent time and money demoing some necessary things, cleaning the house out, and more.  The husband needs to get major surgery that will prevent them from being able to do the work on the house for some time and since they live hours away, they're reluctantly considering selling it and hoping to recoup the money they spent thus far.

They're willing to sell it to me for $70K cash and it needs about $70K in repairs (they've listed everything that needs to be repaired and even have collected some quotes from local contractors - I believe they may also have an informational inspection report available). The ARV being at least $230K, certainly passes the 70% rule. With it needing to be cash, I'd likely have to take out an HML but I'm not sure I can meet the down payment for the full $140K and show 6 months of spare cash to pay (although I do have funds that are tied up and could be taken out, but it'll take a little time) and fear that with my limited rehab experience, I'll run into issues getting it completed in time. Since it's such a good deal and in such a fantastic location that's hard to get into, should I try to find a private investor who will go 50/50 with me? Or should I just try to see if I can wholesale it out since they're willing to give it to me for such a decent price, to begin with? I have not lined up buyers (this would be the first time I've wholesaled), so that's something I'd have to work on as well.

Any ideas, suggestions, or general thoughts? Thanks in advance.

 North Adams. I think I’m going to pass because it won’t make sense for me right now but happy to send you the info. I didn’t talk numbers with him but you can if there’s interest.

Hi All!  I'm newer to Real Estate Investing and have a lead on a home in Western, Massachusetts.  The guy who owns it, owns it outright and is open to a cash offer for lower than what he was going to put it on the market for.  A realtor suggested he put it on for $149,500 but he hasn't signed anything with the realtor and is willing to go direct.  Depending on how it is - maybe offering $100K-$115K?

I'm waiting on photos of the inside which will probably make or break this deal but he claims it just needs some paint and clean up after his tenants moved out (he is planning on doing that this week). This town is an old industrial town that is slowly but surely being revitalized but it's in an area of Western, MA that many people go to vacation (the Berkshires). This town isn't anything special, nor is the neighborhood but I'm thinking if I can get him down from a cash perspective, it could be a good deal for an STR investment or a light fix and flip (I don't think it would work as a LTR if using a cash loan).

Now here's where I'm stuck -- trying to crunch numbers with the assumption that the house may need *some* work (maybe $5k-$10k) and if he wants cash, factoring in an HML - with the idea that I may use it as an STR or a light fix and flip? The BP calculators simply don't match this scenario for me to best analyze it - especially as a new investor.

Any insight/ideas would be greatly appreciated.  

Thanks!

I’m considering getting into wholesaling and would like to find a wholesale friendly title co, contractor etc. Ideally north of Boston. 

I’m a marketer and photographer by trade and would be open to a mentor as well. Happy to barter services on that front. 

Feel free to reach out. 

ughhhhh 🙄

Thanks so much! I tried to send some requests to people and it blocked me for spam (swear I was just trying to connect with some folks!) 😆