All Forum Posts by: Matthew Allen

Rehab - agreed about what the neighborhood has. If it's a rental, maybe not the higher end stuff like granite, but you want it to look appealing and durable as well.

Hard Money - SF Lending is who I use.. Excellent customer service!

On the refi - I'm just doing this on my first BRRR, but I was told after it's rented I'm good (for me about 4 months) and I'll probably get 70% and walk out of closing with about $1,500 bucks. For Cash out I would be looking more at 6-12 month, but on my deal the numbers don't get overwhelmingly better, so I'll probably do it now.

Good luck man!

Location: Grey Forest, TX outside San Antonio

Situation: I'm adding a master bathroom where a utility room was located. The home is 1930 built with stone walls, pier & beam thru the main part of the house, and slab on a few later additions. The concrete was poured inside the existing stone walls (stone walls were built, then the concrete poured on top of the dirt to fill the room with concrete). I know the concrete is 5-8" thick on another room, however where they were trenching for the toilet and shower drains, the concrete is about 1/2 inch thick...seriously half a freakin' inch. There is small fill dirt/rock underneath. The inspector will obviously see this when he does his inspection & I want to do this the proper way regardless.

Solution: I have no idea! I cannot fathom any code in the history of ever where this is done properly, but I also don't know how in the world I would correct it. I would really appreciate any wisdom.

What's the solution going to be on something like this?

Anybody found a way to make the following scenario work, or help the people find a workable solution? Latest lead called asking if I could buy a house from his son, then turn around and owner finance it to him (the dad). Sounds like dad gifted the property and some of the improvements made to the property, then the son built the house. There appears to be about $150k in equity. The more frequent call is asking me to buy it from them, then owner finance it back to them (that one is usually a foreclosure situation).

I'm no AC guy but have 1 AC cooling/heating both floors. What you find is that the area near the thermostat is comfortable...the other area is either too cold or hot...just have to plan ahead or make extra trips up & downstairs. We haven't found it to be that big of a deal though, and it is pretty consistent with all the newly built homes in our area (Alamo Ranch/Far West San Antonio).

@Heaven Boswell, failure can be a great teacher and it sounds like you're willing to be a great student. It sounds like you have some legit and extremely valuable characteristics for this business - integrity & willingness to learn. There are a lot of ladies and gentlemen on here with far more wisdom to share than me, but best of luck to you moving forward. -Matt

Keith Usry best of luck on your move and investment decisions. I'm a huge believer in your start being a huge factor in your trajectory. What better time to start than with a new move. Start strong and feel free to reach out if you have any questions about our wonderful city!

Plus one on the Rick Pozos shoutout!

I just checked back with them and it is 3 & 14. I saw a previous post of yours Tim Macy and followed up with Jade and the guy out of Austin. Thanks. I appreciate your comments across the boards here on BP.

@Jacob Forbis, who'd you go with and how did it go?

Thanks for the nudge. Initially thru a HML. The lender I'm pre-approved with is at 4 points & 14% interest (I know!). I will refinance as soon as I'm able. My credit is excellent, I have very little debt, so I should be good on the refi.