All Forum Posts by: Saul Howard

Is there any due diligence done on the current lien holder in a refinance? Are there any regulations that would prohibit or limit a refinance based on the current lien holder?

More specifically if I'm wanting to do a non-cash-out refinance my primary residence (SFH) and the current lien holder is an LLC that I have an ownership interest in, would that technically change anything about the refinance?

The specifics would be my original loan is with Lender A and I'm refinancing with Lender B.  Does Lender B do anything more than ask Lender A what the payoff amount is?

Anyone work on loan underwriting in the state of Ohio. I am trying to better understand the loan process and specifically want to know what sort of due diligence is done on the current lien holder on a property during a refinance, if any. For example, if my current mortgage is with Random Mortgages and I'm looking to refinance a primary residence with New Ohio Lender, is there any investigation done by the underwriter for New Ohio Lender on Random Mortgages? Or is it simply just asking for the payoff amount and cutting them a check for the refinance given the property appraises? Also, my understanding on primary residences is that you can do a no-cash out refinance for 95% LTV. So New Ohio Lender can pay Random Mortgages up to 95% of the appraisal value.

Hi Everyone,

I’ve been working the last few months to get my investment business off the ground. I’ve been looking at a lot of properties and trying to hone in my property evaluation skills. The process I’ve developed is still pretty manual and cumbersome, essentially pulling information from Zillow, Rentometer, county websites, etc and putting it into a google spreadsheet with some formulas. I’m interested in hearing others' experiences if you wouldn’t mind sharing your insight please dm me!

Thanks!

Could be a host of things, there may be some costly repairs that aren't listed it also could be an area that doesn't have a lot of interest for investors because of the rent or job market there (review https://www.niche.com/places-t...).  Middletown is pretty cheap but I think it's because there isn't much going on there and therefore not a lot of demand for housing.  I've looked at that property and while I didn't do any deep digging the area just didn't have much appeal to me.

I'm interested in connecting with anyone who has had to do renovation work in the Cincinnati area.  I'm looking to hear about your experience, what went well, what lessons were learned, etc.  If you've got some time for a quick chat send me a message!

Thanks,

Saul

Thanks David, the thought had crossed my mind to take the route your are suggesting.  I've been somewhat a handyman myself so I've done just about all of the above.  I'll see what I can find as far as a good handyman/men goes to help with the work as well as all the subs you mentioned.  Good way to save on costs!

I'm looking for recommendations on a contractor that could handle a ~8,000 SF renovation.  This is a pretty deep renovation, far from anything superficial.  It's an old (~1910s) multistory brick building that is going to need a good amount of work.  Any help is greatly appreciated!

Anyone have good averages on rehab costs in Ohio?  I'm specifically looking at Dayton, Columbus and Cincinatti.  I'm trying to understand the $/sf for non-structural (cosmetic) renovations vs structural (new walls, electrical, etc), but I'll take any info at this point.

I'm trying to get my real estate investment business off the ground and want to get connected with some good RE minded CPAs and Lawyers.  Any recommendations?  I'm in the Denver area so anyone local would be great but happy with non-local options as well!