All Forum Posts by: Kiara Washington

This duplex I’m looking into was put under contract in July of 2017 closed in August for 42k and on August 11th a “special warranty deed” was issued for the property. They went in a gutted it and now it’s back on the market for more than double the price 80k. I have a 203k loan. 1. What’s a special warranty deed? 2. Did they run out of money or it this something too big for a first timer? Should I proceed I have a contract scheduled to come give me a quote.

@John Warren wow thanks for the insight! I’ll reach out to my lender today. 

This is my first purchase (finally) I know that if I use the 203k I'll have a lot of HELOC available to pull out for a second property. But I'm not able to use the first time homebuyers grant. My question is if I was to go for a regular fha for my first property can I still use a 203k for a second one or would I have to refinance my first into a conventional loan.

Thanks guys I’ve been looking around and it seems as though they only apply to duplexes. @tylerbarranger can you please forward that contact info 

congrats so inspiring

Hi! I’m finally getting started with a multi unit. Decided that a buy and hold would be best for me right now. Was wondering if I’ll be able to use a grant for down payment assistance with a 4 unit. I know the idha has one but that’s only for a duplex.

Hi Jerome, I have a great RE attorney.  Let me know if you still need the info.

Absentee owner still owes 150k in mortgage, asking for 170k. Comps in the area are well over 300k. How should I go about wholesaling this property. Is it possible to wholesale this property? This is my first deal and I want to make sure that I have everything covered. Thank you BP community!!!

Absentee owner still owes 150k in mortgage, asking for 170k. Comps in the area at well over 300k. How should I go about wholesaling this property. The last time this building sold in 2008 it went for 336k. This is my first deal and I want to make sure that I have everything covered. Thank you BP community!!!

Motivated seller still owes 150k only asking for 170k comps in the area at well over 300k. How will I go about wholesaling this property