All Forum Posts by: Liz Lynn

Hey all! I am under contract for a property at 295k for a 1977 3b2b, 1984 2b1b, a double storage shed, and a covered double car port on 4.25 acres of unrestricted land. Is this as good of a deal as I am thinking? I am seeing about 20k per an acre is average in the area but am finding it is more difficult to find unrestricted land with utilities set up that are still under/around 300k. I am looking to live here and eventually house hack so as this opportunity already has 2 trailers it seems like a great fit for me. 

Everything is going smoothly and quickly, I got the capital and its under contract. The funding situation seems somewhat odd to me, but I don't know how it works normally either. I had a hard time finding a lender that would lend on this due to the two dwellings for one loan, but the realtor suggested Southwest Funding. They said they can lend conventional 30yr with 7.5-8% interest and a few upfront points if it appraises for enough and I have 25% down. 

I don't really know how to even go about valuing land or trailers so I just thought I'd ask and see what y'all think and how one would go about analyzing a deal like this.

 TIA!

Hi all! Currently going through a property purchase and wanted to see what y'all think. 

4.25 acres of unrestricted land up by greenville sc. Comes with two trailers (a 1977 3b2b and a 1984 2b1b) already on it with utilities set up. It also has a double car port and a storage shed of the same size. I moved up here to get a bunch of land to house hack and the trailers are in livable condition. I have no experience on how to value land or trailers though.

It's 295k. 2% earnest money. I had trouble finding a bank that would do two dwellings and ended up with a loan requiring 25% down and a few upfront points with 7.5-8% interest rate depending on lock in day. How should one go about analyzing this? TIA!

What do y’all think of metal roofs? Pros and cons? Anything specific I should look out for?

Thank y’all!

Is it okay to ask one of y'all with access to MLS to send me comps for a property I'm looking at? 907 Halliday Ave 78210 Please and thank you!

Hi everyone! I am wondering how y'all feel about Section 8 housing? Have you rented through the program? What would you consider the pros and cons? What advice would you offer your beginner self? I am just starting to look more into it so any input is welcome and appreciated. TIA!

Also interested, just PM'd you!

I was thinking so too, but I do have the funds based on the numbers I was told and I'm not sure if there's any major difference in the process for a larger project. I'm thinking either way we'll flip it so if I have the funds, why not? Is that not true? I am waiting to get quotes from other contractors to compare because I am suspicious of just going off what they give me. Thank you for your input! 

 Love this! Thank you!

 Sounds good, thank you! Could you explain mor on what you mean with personal risk vs equity?