All Forum Posts by: Kevin Branin

How do y'all determine your comp adjustments... how do you determine how much a bedroom or bathroom is worth?

How do y'all determine your comp adjustments... how do you determine how much a bedroom or bathroom is worth?

How do y'all determine your comp adjustments... how do you determine how much a bedroom or bathroom is worth?

i too am applying with them.  did you end up going with them?

So, I know that banks have different LTVs for different things, and I assume it is mainly based on risk.  Typ home mortgage:  80%... Refi:  70%....  Hard money:  65%

What to you take into account when your deciding on how much your willing to go on LTV. I am doing a flip to acquire buy and holds business plan. If i will be using hard money to fund acquisition and rehab, should I assume that my market will require something like 65% loan and the other 35% will have to come from my wallet?

I think I need a better explanation of LTV as it relates to REI who are flipping.

Get all the parts together first, that way you can pull the trigger when a deal comes along. Financing - know how much you will need. Figure what type of financing you will be using... conventional mortgage, hard money, all cash. Depending on what you're looking to do will eliminate some options Contractors - do this at the same time you are figuring out financing. Vet a few contractors, do lunch or coffee with them, let them know what you're looking for... and make sure they're willing to work with investors... you shouldn't be paying the keeping up with the jonses, one and done rates... you will keep them flush with business...so they will need to provide a better rate. Property - once you have your team... go out, find a property that meets your numbers, and pull the trigger!

BTown is a block by block neighborhood. You should really go there and explore it.

Mark, I'm looking to get into rehabs. I will PM you

A co-worker has a condo he is renting that he wants to get rid of.  There is still some owed on the mortgage.  What are my financing options here?  

The value of condo is @ 200k,

HOA fees 231/mo

Rent $1450

It's not looking like the best deal, but perhaps there is a way.

Could said co-worker use a refi to pay the remainder of the mortgage, and then assign the note to me?

I know we could do the "subject to," and i would just keep paying the mortgage.

Let me know if these suck, are OK, or are out of the park homeruns.

-Thank You!

I'm looking to partner with someone who has more experience in doing rehabs than I. Which shouldn't be too hard considering I have none. So,as it stands, 5300 block of Parrish st in Philadelphia. Property is 24k, rehab is 30K, rent is 14-1500k...ARV is at least 125k The reason it's so cheap? There is a non paying tenant who needs to be dealt with. Any takers?