All Forum Posts by: Ben L.

HML Int Only 14% $669.67
HML Payments (no. of mos of rehab) 3 $2,009.00
Adds to total cash investment, as interest payments must be covered out of pocket

Payoff Amount $55,391.00
Closing Costs $4,000.00
$59,391.00
Conventional Loan 75% FMV $61,500.00
Cash Investment $(2,109.00)
Subtracts from total cash investment

Rent - 2% rule $1,060.00 $1,000.00
Monthly P&I 4% $264.45
Operating Costs - 50% rule $530.00 $550.00
Monthly Costs $814.45
Cash Flow $185.55
Equity $20,500.00
Total OOP (includes HML payments) $9,500.00
Cash on cash 23%

Forgive me Bryan, is the P&I, for your refi loan? What is the loan term?

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...You know what they say Mike, today's "no" is tomorrow "yes."

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Cody Lown, would you be able to provide us with an example of a potential deal you have come across?

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I personally would not mail "yellow letters" to "cash buyers". These are most likely serious investors in town who are actively buying and may not take your yellow letter seriously. If you are dealing with other investors, I'd recommend you keep your letter as professional as possible.

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Thomas Handy, how is the Insanity program? I haven't tried that just yet. Is it solely based on cardio?

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Originally posted by Bill Gulley:

Welcome to BP Ben! Is that isometrics? I do some resistance stuff, for a few minutes, not training, just to keep toned and keep strength.

Thanks Bill, I have been lurking for about 2 years now so I naturally feel apart of the community! Now it's time to finally give back.

It's not so much isometrics, but consists of different workouts each day (which can consist of Yoga, Kenpo, Plyometrics, and of course weight training). I do it because it keeps me in extremely good shape as well as my heart in such a short time period during the day.

I have been on this routine for about 4 years now and continue to do so because I hate fitness (ironic, don't you think?).

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Anything is possible. I know of a house that has been sitting in foreclosure for 950+ days...You heard me right!

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Originally posted by Will Barnard:

I have dealt with many FHA buyers in the past, yet, I have experienced very little resistance as described in this thread. Perhaps in CA, it is more lax, but I doubt it. If I am inside of 90 days, and over 20% increase from my purchase, all I need to do is send lender my itemized list of repairs I completed and the lender will require 2 appraisals. That is it, and only once was I actually asked to produce receipts, which I did.

I don't see it as such a big problem.

With bigger institutions I find this very common, I too recently had a lender require an organized list of repairs that I have done with the house within the 90 days in order to close. It's either that to expedite the process, or option B: Wait for the 90 day waiting period.

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I have to say, when it comes to fitness, I am an extremely inpatient guy. I can't ever see myself riding the elliptical or running on the treadmill for countless hours. Plus I hate gyms!

As a result, I found that p90x works wonders for my lifestyle. It consists of quick, high intensity work outs all within an hour maximum all in the comfort of my home in the mornings before I leave.

Time is money, I figure that I shaved off an extra hour of my day having to get ready, drive to and from the gym, and work out.

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All Forum Posts by: Ben L.

Ben L. has started 0 posts and replied 19 times.

Post: Deal Analysis review, SFR with HML->CL

Post: Angry Seller Calls

Post: Will an experienced investor please explain what I am missing?

Post: Yellow Letter Mailers to find cash buyers - would this work?

Post: Physical Fitness

Post: Physical Fitness

Post: Does this sound right?

Post: Navigating the FHA 90 day rule when flipping

Post: Physical Fitness