All Forum Posts by: Roger Kumapayi

If you have rental properties with vacancies and would like to partner with an experienced RE investor please PM me. I am a graduate of Brian Page's BNB program and a Airbnb Super Host with several listings. Thanks.

I'm selling a house and the buyer's loan docs are in underwriting. However, FHA appraisal now requires sidings of the house be repaired before closing. Sale price is $180,000. FHA appraisal is $185,500. On contract I agreed to pay up to $7000 of buyer's closing. Repair costs is approx $2750, and I agreed to split it with the buyer. 1) I need to find a contractor for the job in an area I'm not familiar with that will accept pmt at closing and 2) figure how to get my half back at closing. 3) Would amending the contract delay underwriting and closing? Experienced investors, please help.

Roger

I'm selling a house with a contract on it, the buyers loan officer has already sent the loan docs to underwriting. However, FHA appraisal now requires that sidings of the house be repaired before closing. Sale price is $180,000. FHA appraisal is $185,500. On contract I agreed to pay up to $7000 in seller assists with closing. Cost to repair siding is approx $2750, and I have agreed to split the cost of this with the buyer. Problems are: 1) how to find a contractor to do the job in an area I'm not familiar with and accept pmt at closing and 2) how do I get my half back at closing? Would amending the contract delay underwriting and closing? Please help.

Roger

Has anyone been able to extend REO purchases from banks inspection period from 7 days to say 10 days in the state of Florida? We are about to put in a contract on this property but our funding company requires 10 days for inspection. Thanks

Thanks a lot, Reen. I'll be sure to keep you posted.

Hi Everyone, I am looking for an investor friendly title/or escrow company within the Pinellas County area. We are about to do our first deal (short sale) and want to make sure we encounter minimum obstacles along the way. Thanks.

Roger in Tarpon Springs, FL

Hi all:

My wife and I are looking for a potential investor partnership for RE investments in The Greater Tampa Bay area - someone that could finance 20% of the purchase and rehab price, while we would finance the rest and manage the project for 50/50 profit split. Between the two of us we have over 37 years knowledge of the area and 17 years of practical REI experience. Our current focus is the $200k-$600k market - rehabbing and flipping. Presently we have a contract on a property within those parameters. If you are interested please PM me to discuss. Thanks, Roger.

Thank you Jonathan. I spoke to a realtor today who agrees with you. The investor I referred to lives in one of the northern states and may have had a different experience. But we are forging ahead and hopefully will report a successful flip in a few months.

We are about to finalize a contract on a very nice luxury attached villa , situated in a gated golf-course community. However, a very successful investor we know will NOT do attached villas or condos when it comes to REO rehabbing and flipping. Our focus is the Greater Tampa Bay area in FL. Since we are new to flipping in FL we'd like to be sure that attached villas are not 'taboos' in these parts. Does anyone have any thoughts on this?

I am a new RE investor starting by wholesaling. I'm curious to know if buyers of wholesale properties shy away from villas, attached condos, and houses in gated communities when purchasing wholesale properties. Thanks.