All Forum Posts by: Marsha Rost

@Joe White

I had no idea. Thanks for the info

@Matt Moylan

Thanks good to know

If I am doing a BRRR, buying with cash, what kind of insurance should I purchase for the renovation phase, before I get it rented out? I heard someone mention a builder's risk insurance? They old me that it is a min 6 months term and I have to pay all the premium upfront. Can I just buy a regular homeowner policy?

So I am in the process of my first BRRR deal. I had an offer accepted last night. I am paying cash.

In doing research I learned that banks don't lend on properties that have title under an LLC so I have the contract under my personal name. I plan to refinance under my name and then transfer title to my LLC. Is that what most of you all do? Is there a better way?

I'm kind of new to the game so I'm sorry if this question sounds obvious.

I came across a listing today that says '

"investor purchase only". What does this mean exactly? Does it mean they are only looking for cash purchases?

From the photos the house is in great shape it needs absolutely no work. It's in a good neighborhood with the best schools and it is reasonably priced.

So I'm curious why it has this limiting term.

@Parth Patel

But the terms on most mortgages ask that you live there for a year. After that you are free to rent it out. So if you can try living there for 12 months, It might be worth it.

@Parth Patel

I should add though if you are caught and have no good reason for not actually living there it will be mortgage fraud for you and your property will be foreclosed.

@Parth Patel

If you officialy change your address to the mentioned property (on your driver's license) and you put and not have it look vacant (keep it somewhat furnished) you should be fine. The most important thing is to have your mailing address, vehicle registrations, credit card billing address etc changed to that property. Anything financial must be linked to that property.

@Mark Sewell

Why do you think it would affect flippers more than buy and holds?

@Edward Liu

That's a good thought. Thank you.