All Forum Posts by: Paul Holtham

We had a lease agreement signed April 15th 2018. We sold this property April 2nd 2019. The forms we purchased thru bigger pockets. We charged a non refundable pet deposit of $250. The form does not mention anything about what happens when the property is sold. Is that deposit due to the new owner even after we’ve owned it for almost a year. Can the deposit be pro rated somehow? Thank you

@Jared Rine Pm sent

@Jared Rine Arv appraisal in oct 2017 was 135k..we owe 109k The 2nd property is under contract at 85k..no work needed. Should appraise around 115-120k

@Kevin Romines I’m in the Buffalo Ny area looking for a program similar to what you described. I’m trying to refinance and keep getting told no.

I have a 2 family completely remodeled and occupied. Looking for longer term financing for that property to pay off short term investors. Second property is under contract, rehabbed, hoping to wrap them together or find financing for both. Both are in the WNY Buffalo area.

@Chris Kraemer I had the same experience on two deals.

Hi Everyone, We have a SFH in the Wny (Buffalo) area that the owner is possible willing to hold the mortgage temporarily (6-12) months. The ARV is around 140k, we offered her 80k in its current condition. She denied our offer since she owes around 77k. But she might be willing to hold the mortgage while we flip it or rehab and refine it for a rental. My question is simple..what is the normal compensation for the owner while they hold the mortgage.

@shane Lee That’s awesome Shane! Buffalo is a great market. One thing I will say is make sure you have a great team in the buffalo area that can watch over your property’s since you’re a few hours away. I’m interested to hear which meet up you attended.

I’m in the Buffalo Ny area and a typical wholesale/assignment fee is 5k..I payed 10k on my last flip.

Matthew Irish-Jones I’ve heard from several people that the village of Depew building department/code department is tough. My understanding of the code is anything in the basement that is finished living space..bedroom, office etc needs a egress window of at least 6sq feet..since the building department seems to be involved with your project I don’t see you having any choice unless you can get them to change their mind which isn’t likely. I’d be interested to hear how it turns out though. Much of that I’m sure you already knew so hopefully that helped a little. I’m curious how they got involved in the first place?