All Forum Posts by: Oyin A.

Not only just the numbers were inaccurate mehn.

I actually just found out when my potential buyers started to leave their feedback that the house is sitting on some sort of hill so that in the backyard there is sort of a slope (not even a slope just suddenly drops down) and it is basically scaring buyers away. Inspection showed termites and all sorts of stuff hidden from me at purchase even though we did an inspection before purchase (using their recommended inspectors). Definitely wrong move for me to be an absentee buyer mehn.

At this point I will be making a huge loss as house is already listed $20K under the ARV they had mentioned. If anyone is interested in buying it off me (it is fully rehabbed except for a few snags that might come out in the inspection; this might cost you $5k at most to solve. And then the drop at the back).
It is in the Dallas area and will rent fast. So it is better for an investor. 

Just have to say this is a traumatic loss for me. I dont understand how in this country - people are able to get away with such dishonesty and lies by ommission. Reaping people off their hard earned money. I worked for a whole year to save for all the funds I put in this transaction. 

This is the Networth Realty in the Dallas area

I am currently doing a rehab with Networth Realty and the experience has been pretty bad. I was told the rehab will cost 25K and currently I have spent over $31K and the contractor has found something else that will put me at an additional $1500 out of pocket. When I put in a draw request, they paid $1500 less. I just keeps getting worse. Upon expressing my frustration, the sales guy from Networth Realty apologized and said he was embarrassed by the number of problems but then lied to me about the ARV (gave me a new ARV based on total property size not the building size. Guess he thinks I am dumb). And this time, the ARV he gives is all of a sudden $10k more than the initial one he gave when selling to me. My house is supposed to go on the market this week and I am only praying and hoping I atleast break even. Of course, I will never be dealing with them again

please can you give one or two other companies @Juan Jackson

Hey Zachary - can you call me? I ll Inbox you

hey guys, thanks a bunch for your quick response and helpful insight . I already got prequalified for $800K+. I found a brand new Fourplex in a great area of philly but Unfortunately had to go out of the country and before my return, it was already under contract. Would love to do brand new/post 2005 owner-occupied multi unit fairly soon. Then start learning the ropes on Construction. I recently found a lot with already approved plan for several units and I have a good contractor with several references too. I have a lender who is considering me as well. Will see how it goes :)

Hi everyone,

I am new here :). I work in Technology and looking to gradually move off that path into fulltime REI. I want to start by raising money through Land Purchase, development and selling immediately post-construction. I am not sure how to start. I know that certain neighborhoods are experiencing MAJOR growth in Philly...I mean people are making like $70k profit and all on new construction of single family homes

I found some lots and need guidance on how to work this out...I want to do 3 or so Single Family Constructions within the next 12 months...to raise funds...After which I plan to get a FourPlex (owner occupied). 

How do I find right Land - lender? - permits - i have found a contractor though. One lender said they only give construction loans to ppl with building experience. I have start somewere, right?