All Forum Posts by: Ryan Thomas

You need a builders risk and OCP (liability) policy depending on the extent of the build. These are 6 months to 1 year long policies. Liability will likely have to the exact same as the contractor at $1,000,000 per occurrence and $2,000,000 aggregate. If it’s a very minimal flip under 20k in rehab cost we can just write you a vacant policy and transfer it to an occupied policy once completed.

You will NEED to receive a certificate of liability insurance from your contractor listing you as an additional insured. 

@Austin Hough I’m not an expert but judging from the numbers alone it looks good. You are a little more generous than me on the expenses but that doesn’t mean it’s inaccurate.

Can you just ask sellers if they’d do zero down seller financing for the asking price? How common is it? I’m looking to buy a out of state investment property for less than 50k

I know there’s a few different options. What about financing under 50k?? Could you do a 30 year fixed or does it have to be hard money or even cash.

I’m saving money but I would like to do a cheap out of state deal first to get the ball rolling.

Thanks!

It looks like your just buying a house at market value to live in. If you like it buy it! Your own personal residence is a different situation than an investement. Only you can decide!

Are you not doing any repairs? Just a buy and hold? Looks solid to me.

When buying a fixer upper, if you have no experience rehabbing, can you still make money if you pay for all the work to be done?

I may buy a rental out of state and don’t want to fly their to fix it up.

I know prices can get upwards of 60k

Do you have realtors present you with investment opportunities? I was going to get in contact with multiple ones in my top 5 cities I want to invest in and see if anything worthy comes my way.

I know investing out of state without looking at the property is looked down upon, I just think people are wrong to limit themselves. As long as you have good enough resources and planning I think it can work out fine. Just finding the deal may be tricky.

What other options are their for finding out of state deals?

Thanks!

I’m a realtor and I feel like this may be a better fit for me than say first time home buyers.

Have you tried this before? What was your experience like?

@Franco Epifania

Cash on cash return includes debt service.

Cap rate is noi/purchase price