All Forum Posts by: Matthew Logan parnell

@Nathan Milholin. Thank you very much that helped clear a lot up and on the loan part. The original idea was I didn’t expect a bank to lend her the 40k for repairs so I assumed she’d be using a hard money lender and I was just assuming at 10 yrs for the loan will full intention of having the property appraised after repairs, remortgaged through a conventional for 30 years at like 3-5% and paying off the hard money loan. She owns the property and actually built it years ago so I have no idea of a purchase price it was last appraised at about 93k in 2016 so again assuming after repairs compared to similar homes in 2 mike radius it should appraise for about 100k now. I guess kinda using a brrrr stragatie minus the buy part lol. 

hey everybody so i'm new to bigger pockets community and using the calculators and i've run into a sort of dilemma. so here's there deal my grandmother owns two homes and one i lived in for my whole life. It had a tree fall on it and was built in around the 50-60's. Ive moved out and she wants to rent the property but obviously has to be repaired from the damage. So in using the calculators i was'nt sure if i plugged these numbers in correctly. The estimated work needed is around 40k and she owns the home free and clear. do these numbers look right to anyone?

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

hello everyone! This is my first post to the bigger pockets forms and hope I do this right. I’m a new to the investing world and looking to make my first steps. I have a property of about 3 acres that runs along side a train track(10ft away). I can obtain the proberty for nothing and debating on putting a tri/4plex  on it or maybe several mobile homes. I know this is very vague information. What I’m wanting to know is if anyone could give me some step ideas of what I should do to even see if this idea is possible? It’s not as basic as running numbers in an existing home. I know there can be a lot of due dilegence that can go into this but I have ALOT of free time to put into it. Please any comments are welcomed.