All Forum Posts by: Patrick Philip

I went to see some potential rehab houses today. Many of them needed only simple things: a fan in a bedroom, some drywall patching, some baseboards, and that's it.

The A/c all worked, the roof was good.

Is that really all there is to it?

When I get responses to "We Buy Houses," if the house doesn't need rehab...

I can sub2 --> owner finance, but what if there's no mortgage and nothing for me to take over?

Why is that steroids? Don't banks have unlimited amounts of money? How does using OPM instead of bank loans help?

Or are you saying that they purchase with OPM instead of using their own cash?

Is there a way to do BRRRR when you finance the purchase in the first place? Or maybe use OPM for the down payment only?

What would you Google search to find the best job growth cities in the United States?

Have you heard of any better ones than that? He owns a lot.

Someone once told me that he "builds or purchases and repositions" at 75% of FMV. Then, after 3-12 months, he refinances at 100% FMV and they lend him 75% of the value, meaning that he got all, or most, of his money back in the first year.

Does anyone use, or has anyone else heard of, a better strategy than that?

When someone builds or "buys and repositions," a large-scale commercial property, how do they determine FMV?

With single-family units, there are usually comparable sales, but what about for these larger units where no comparable sales exist?

I am wanting to buy an apartment complex. I have about 5 counties in my vicinity. I live in Seminole County, Florida, but I would be willing to buy in either Seminole, Orange, Lake, Osceola, or Volusia.

What statistics should I look at to determine which of these areas will be the best to buy an apartment complex in? What statistics should I look at? Future projected population growth? Something else?

Any input would be appreciated. Thank you.