All Forum Posts by: Patrick Shep

I'm not asking for someone to defer payment, this is post closing. You can do delayed financing after paying cash for a property, within 3-6 months after closing. You can finance all of what you paid for with cash if your appraisal supports it (80% LTV) and all fees. My question is if I did that and say there is a 5k assignment fee (not sure exactly what the # is), is the considered a a fee or included cost of the house or is excluded from what I can finance?

I’m looking at paying cash for a deal and using delayed financing. It’s a wholesale deal with an assignment fee. If I do delayed financing am I able to include that assignment fee?

Do you have student housing in your portfolio?

I'm looking to build a list to create a community since it's so niche. I have a small FB group I'm in but I know the community is much larger. With enough participation, we can do a virtual REI type meeting(s).

Thanks !

I use the mobile version too, but it's kind of a pain in the butt. Everyone else in the world has created functional apps where I can get notifications, etc. $400/yr x how ever many people subscribe plus all the other revenue BP gets, should be more than enough for a functional app.

I think BP is amazing. However, I’m disappointed  that they have not created an app that has good functionality for forums and all the tools.   most of us pay $400 a year and I would expat that experience at that price to include a modern app.

does anyone know status of when a BP app will be released? I have an old one that’s horrible and the apple store doesn’t carry it anymore.

I’m familiar with conventional loans for MF 2-4 units. What are terms like for a commercial loan for a 6 unit, under 200k?

Russell...it's out of state in upstate NY. I need to get an electrician to look at it and negotiate if the seller is open to it.

Im looking to understand buying a place that has knob and tube wiring. I’ve read some insurance companies will not insure it.

What’s been your experience to get insurance with knob and tube? Any recommended insurance companies?

thx

I think you need to stick to your word. To be blunt, you messed up, not your tenant. We've all seen the inflation coming for 2 years and have seen it rise. I recently signed a 2 year lease with a tenant with only a $50 increase year 2. They are also a great tenant, so if you have a great tenant, then I would be happy. You may pay more for turnover and you don't know what you would get next. If you are paying too much for repairs, you need to assess your CAPEX.

Hi all. I'm looking to connect and build a network with active investors in Detroit with a buy and hold strategy. I'm looking to network with local investors and OOS investors. I haven't seen any Detroit REIA that meets virtually, so if anyone is aware of something that accommodates OOS investors, that would be great.

Look forward to connecting...