All Forum Posts by: Petr Stuchlik

 Thanks Anthony for the info. I saw some of those rates and they are not too bad. We are considering even option like this, but since the property was extensively rehabed and tenants tend to damage stuff faster than homeowners it might be just a last resort in case we will decide to keep it longer and for example refinish the basement to add some more sqft or do other improvements.

Thanks for your reply Nghi. ARV is somewhere around 430k. Yes we are stuck holding it because of the winter. We got offers from people who were trying to low ball us and I can see statistically that winters around here are dead until March. I'm not looking for hard money per say more trying to find out what my options are. Will try local banks and lenders first and then will see if I will look more into private money or so. We are also renting right now so we are considering moving in, get some nice traditional loan and just sell later on. We are renting on purpose to leave are options open in case we need to move to one of our flips to cut costs and hold it longer if needed.

Thank you @Sean Grapevine and @Brie Schmidt for your quick response.

Rehab is done. It is a single family and it is held in a LLC (me and my wife are managers and only members of that LLC).

Hi community!

What is the best way to re-finance from Hard Money? It seems like we will be stuck holding a flip over the winter and it would kill our numbers if we continue paying hard money all that time. Any suggestions?

Thank you @Victor Eng and @Andrew Johnson for a helpful and quick response.

It seems like the property was tested twice. For the first time both units were tested during the current sellers due diligence period. He didn't mention that, but maybe he just does not remember since it was in 90s. Then he tested one of the units in early 2000s. He used a different inspector every single time.

When it comes to remediation I believe that there was nothing done at all (except windows change and that was done to not to loose so much heat in the winter). Currently there are not any kids 6 or younger living in the property, but I do not have any idea if there were any in the past.

I checked the list of inspectors in MA (http://www.mass.gov/eohhs/docs/dph/environmental/lead/ma-lead-inspector.pdf) and both of them are still licensed. We actually called to the second one who inspected that one unit in early 2000s prior to this conversation when we were calling three different inspectors to find out pricing and availability. Does it matter in this case if we ask the first or the second one to do the inspection again?

Hi all.  I'm looking to buy (put offer down) my first multifamily (a duplex) in central MA in next few days. Owner claims that there was a lead inspection done about 8 years ago. However, he cannot find the report he received and says that it should not matter since the report expires in two years anyways. Does the lead inspection report expire after certain time period? He says that he tested one out of two units and lead was found in doors, door frames, windows, window frames and window sills. He also changed the windows for better ones. Is that going to flag the property as not properly deleded? I'm definitely planning to have a lead inspection done in the inspection period, but want to know up front if the windows change might raise some red flags.