All Forum Posts by: Kris Rudge

@Jeff Copeland thank you so much i get it now. I greatly appreciate your help!

@Jeff Copeland ill ask about the points. But does it sound right to oay registration fee after a loan approval?

@Jeff Copeland the funds would be for the purchase of the property ($25,000-30,000). The rest of the 70k loan would go towards rehab. The interest would be 5%. He did not say anything about points or anything like that.

I'm working on getting funding for my first BRRRR. I found someone advertising on a local meetup in my area that said "I will fund your deal for 5%". I reached out to him and he says he is a private investor for Charter Financial. Being that this is my first deal I have a few questions to see if this is normal. Ive always been a little skeptical due to past issues. He is asking for a registration fee of $1800 that is paid once i am approved for the loan of 70k. Does that sound right? In advance, thank you for your help!

Hello Kevin, im in greensburg and looking for lenders.

@Dave Foster thank you. I greatly appreciate your help.

@Jon C. Thank you, I greatly appreciate your help.

Hello BP! I haven't done a deal yet but I've analyzed a handful of properties. I was working on trying to get financing for a property and was talking to a coworker about real estate. He currently owns two properties. One is his primary residence with a mortgage and the other was his old primary residence that has been vacant for about 1.5 years (100% paid off) but is still paying hoa fees. He doesn't know anything about real estate and has no interest in it. He wants to sell the house that is paid off so he can pay off his primary house. He wants to get the most for his property so i told him about a 1031 exchange. Since I'm looking at getting funding for a property could he 1031 the property that is paid off into a property ive been looking at and I'd refinance the property to get his money back out and pay him interest for the help. Any advise, help, or suggestions are greatly appreciated. In advance, thanks.

@Jon Kelly are you staying local to your area Bethlehem, PA? Or are you investing elsewhere? Also congratulations, that's awesome!

@Kirk Zandier what area or Pittsburgh are you considering? I'd love to hear more, I live in Greensburg. Also I am fairly familiar with construction of a house. Message me if you'd like to talk!