All Forum Posts by: Linda Foster

How do I add the rehab costs in with the hard money total?  This deal is looking a bit upside down.  I have not yet seen the home so I might be way off with the #'s as it's not listed yet nor am I clear on future value, using my own home's value in comparison which is in the neighborhood and half the size....Also, why isn't my value increasing in this analysis, I must have missed something here, I thought I put in 5% increase in the formulas.

Thank you,

Linda

*This link comes directly from our calculators, based on information input by the member who posted.

Curious what this platform is all about.  I have been working on several mailing campaigns but have received zero leads.  The first buy is the hardest for sure!  I am now looking at Probates and working those lists now.  This InvestorLift requires an upfront $5k non refundable and looks to me like there is no option for inspections....curious what others take on this site is.

Thank you in advance, I'm fully committed and learning daily...love this site and it's members

I am asking if anyone can go through this BRRR financial calculation I completed (from BP tools) and explain if I'm on the right track or not....I feel like somehow the calcs aren't right with the total $$ needed down as my intention was to add the repair costs into the initial outlay with the hard $$ purchase (less my 20%). Would love to learn more about the different calcs in the center of the page too. I can forward the worksheet I completed and the prop stream print out and listing for this property I'm looking at. Thanks in advance. Love this group and am continuing my education before writing that first offer!

@Mike Klarman Thank you for this insight!  This helps a great deal and appreciate how clear you are on expectations!  Are you drawing from the lender or is this handled like a hold back in escrow (as far as the rehab draws).  I took a crash course in investing and it was full of hype, so I wanted to get all my answers up front before purchasing my first property.  I have alot of experience in real estate but this investing world is very new to me.  So I really appreciate these forums and advice provided from experienced investors such as yourself.  Thanks again.

 I actually am shopping hard money lenders first before I aquire my first deal, want to be prepared!  But to answer your question in a broader sense, I am marketing to $600k and under in market value, $200k or higher in equity (on the sale side).  At least I know what to expect with everyone's responses....thank you!

@Mohammed Rahman thank you!

How do I find short term funding (6 months to purchase all cash and then renovate) to purchase a distressed below market home in Northern CA at 100% financing?  I've called private lenders but they require 40% down!  What's the point?  Might as well cash out my investments and do a conventional investor loan at 75/25.....What are the requirements for these lenders to loan at 100% for short term and how do I find them?