All Forum Posts by: Arvin Poole

Thanks Jay. I just messaged you. Hope to connect soon.

Arvin

Hello,

I am seeking a HELOC on a duplex in Austin. I see the list of lenders but which ones are licensed in Texas? Thanks.

Yes, is a dear friend of mine and loves helping others new to the commercial space. I am considering applying to his apprenticeship program as well. Just need to get my "house" in order for first with my first few properties.

@Paul Charbonneau check out alvinhopejohnson.org. He has an apprenticeship program foe new commercial developers.

Hi Conner. I have a similar deal in North Central Austin. Did you do an FHA? I am considering househacking my duplex as a plan B if I can't get a good interest rate on my refi. Would love to collaborate.

I am in a similar situation where I intentionally purchased a duplex (7000 sqft) that sits on an oversized corner lot (13000 sqft) in a cul de sac. I plan to build a 2/2 unit in the unused lot space. I personally would not reduce your number of doors if you have the option of building more doors on that lot. Good luck in your journey!

I recently purchased a duplex in the North Central (St. Johns) area and currently wrapping up the final touches of my rehab. The "not so desirable" areas are often overlooked and are prime spots for new REIs. I plan to refinance into a VA loan and house hack one side while long term renting the other side. I also plan to STR the side that I will be living in so that I can begin on acquiring my next MFR. I would recommend getting a funding plan together 6 months in advance if relying on FHA financing. Good luck!

@Manju Nat Check out this FB group for Austin contractors

https://www.facebook.com/groups/423037405137566/?ref=share

Thank you. I am running into the same issue. I also see where you can add loan origination in 2 different places:

- In the Cost Breakdown under Purchase Closing Cost

- or under Purchase Loan Details > Points charged by lender

I ran both scenarios, and it doesn't appear that it makes a difference but wanted to confirm with anyone else.

Thanks,

Arvin

Same here. I added my rehab to the the total purchase price, but that then changes the calculation for ARV. This may be on overlook from the BP team on this one.