All Forum Posts by: Kayla Jacobson

Hi! Just wanted to comment and say that I'm moving to the Miami area this summer so am new to this market. I'm currently looking for a house to rehab as my primary residence. If you hear of anything around the North Miami/Ives Estate area I'd be interested in looking and would love to have you sit in on the rehab. I also currently follow Tampa Flippers on IG and they just started a mastermind group that is free (or really cheap) and have been sharing a lot of helpful information on flipping that you may be interested in. Nice to connect!

I'm looking for some bids on adding an addition to my property in Spanish Fork, UT:

• excavations
• footings
• foundation

Let me know who you like to use! Thank you much. 

I'm also wondering what you all think the best method of paying for renovations is. Should I try to find a family member who can pull a HELOC on their house? Should I apply for a bunch of cc's and use those? Or should I use a bank loan?

Hello again! I'm getting myself in a good spot so I can purchase a fixer upper in the next month or two. I'm realizing I most likely need to do one of two things: 

1) Partner with someone on an on-market deal (which is difficult because the market is crazy, as you know)

or 

2) Find private money to fund a flip, refinance into a conventional loan, and pay off the private lender.

If I do option 1, do I need to create an LLC with them? Or do they become co-signers on my mortgage? I know the bank doesn't like to see a large amount of money put into my account right before closing so how does that work out?

And for option 2, is there a certain percentage I should look for that makes the most sense? Will I need a down payment for the lender? And is it just interest only payments until the loan amount is due? 

Thank you for taking the time to answer my questions and help me out. I am still learning so much! 

@Gary Parilis Thank you for the advise! That's good to know about the difference and pros/cons to using both. Much appreicated!

@Dan Gustavson Thank you! HELOC sounds like just what we need. We've looked into the VA requirements for a fixer upper and hopefully we'll find a place that fits the criteria. Thanks for the advice!

Hey everyone! Newbie here. I own primary residence turned duplex that I am house hacking at the moment. Our next move is a live-in flip this summer someone in Utah County. To fund this next deal I am curious to know what the best route would be. There are two options I can think of (maybe ya'll know of something better). *We will use a VA loan on the next one so 0 down*. 1. Do a cash out refi on our current property which will probably give us around 50K we could put towards the rehab and any other expenses. 2. Get a loan from the bank for the rehab and save the cash out refi for a third property this fall.

Hope the scenarios make sense! I'm open to other ideas I may not have thought of yet either. Thanks in advance. 

We're planning on living in the live-in flip for two years then keeping it as a rental. Thank you everyone for your suggestions. I have a question on cap rate. In Provo specifically, do you guys still recommend 6% as the lowest? With the prices of properties I'm wondering if a little lower is okay if it's cash flowing okay? 

Hi there! I am new to BP and excited to be here! I did my first small live-in flip in 2019; I live in the top and now rent out the basement. My husband and I are hoping to buy another property this summer in Provo. We'd like it to be another live-in flip, ideally buy a single unit and put in another unit. We don't have much cash so we're looking into loans for the rehab. We use a VA loan for purchasing so it's $0 down, $0 mortgage insurance. Though one thing is that hardly any principle gets paid down initially. Any advice for us in getting our second property? Thank you!