All Forum Posts by: Scott Henrikson

Have any questions?

@Eric Michaels call the county and they can tell you the age of the line. Look on the street to see if there are rectangular cutouts in the road where a line has been replaced. Look for a pvc clean out next to the house. After all of theses the only sure way is to hire someone to scope it. Water would really just be pressure or possibly standing water, but that’s nearly impossible to see unless it’s a large problem.

@Tony Gunter good agents will look out for their clients. Repeat business is the key to success and they won’t last long if the agents not providing value.

@Mark Miles by deposit do you mean earnest money? How did they not allow the inspection?

@Lucas A Davidson a lot of lenders simply don’t know a ton about the lending process. 20 year in house at 5% is in line with my area. She’s possibly pushing this loan because you haven’t held the property long enough to sell in on the secondary market which would typically give you a 30 yr fixed. 6 month hold is standard but some lenders will do less. Another option is to put this into a commercial loan. My area will allow a 25 year am with a 7 yr refi. Before you shop too hard it might be worth looking at your amortization schedule on a 20 year loan. You might be ok with less cf when you realize the principle pay down. Lots of options but shopping around to credit unions has served me best. Good luck!

I’ve purchase multiple homes this year using the brrrr method. It’s been great and absolutely allows a person to scale. I’m looking at some of my newer commercial loans that need to be refinanced in 5 years. What are the risks? Any suggestions on strategies? I plan on buying 15 more in 2020 so there will be some heavy refinance years ahead. Thoughts?

@Bill Plymouth commission should be based on the value you provide. I’m a real estate agent that works heavily in distressed properties. I have different scales depending on the complexity and profitability of the deal.

@Jonathan Trimboli just read a quote from Andrew carniege on this.... “you should put all your eggs, focus, and attention into one basket. You only lose and break when you have too many baskets and you start to drop them.”

@Monte Blunk don’t have an answer but this is a great question. I’m seeing this more now. Love to hear more.

@Jason Clark there’s lots that could be going on there. If your agent isn’t communicating that’s a problem. Good or bad news you still should have communication. If your contract has a close date and you are past that you aren’t under contract anymore. Even if you want to continue to proceed your agent needs to created another document extending the transaction.