All Forum Posts by: Rolando Irizarry

@Eliott Elias - could you elaborate on things you've come across?

@Ross Billington Congratulations on the find! Do your due diligence and budget a healthy safety factor (contingency) for your project. Since this is your first deal you're going to have a fun and an exciting (stressful or not) learning curve to overcome. Check all your numbers and try to get multiple quotes. Run through all the checklists that the bigger pocket books outline. Keep good records and notes (even conversations with contractors) on a portal media like google drive. After all the renovations are complete, remember no one is going to take care of the property like you would. Screen and interview the property manager as you would a tenant, get referrals and call them.

Best of luck! 

Mr. Brooks, 

I would like to use another FHA/203k loan to buy my new home (project) at my new location. So moving for work exempts me from being locked into living at the house for a full year, but I assume I would still need to get out the FHA Loan to get another one (awaiting my broker to call me back).

Hello All, 

I am just finishing up my renovations to my first Duplex in the Mt Washington neighborhood. I was looking to self-manage the property, however, a new job in a different city may affect this. My current mortgage is in my name, however, I was debating on switching from the FHA/203k Loan to a Conventional Loan based on the appraised value post renovation (even though, I should do this after the house has a track record for performance to appraise on the cash flow that the house can operate at).

Questions I have:

Does anyone have a Mini-checklist on actions that I should perform before switching from local investor to a distant Investor?  I don't really want to sell just yet, as I might move back to the area. 

Is there a big difference on when I finance out of my FHA, immediately after renovation or after some time of performance?

Any Property Manager recommendations?

@Michael S. Could you also help me out with the book's bonus?