All Forum Posts by: Stefan D.

I'm working on my first BRRRR property, and I'm stumped with what to do with the kitchen. It's small and boring but functional. The appliances, cabinets and laminate counter tops are in fine condition - working with no major scratches.
What would you all do to this kitchen?  Upgrade it, or save some money and leave it as is?  I'd love to hear your thoughts

Note: The counter tops are brownish/orange and blue

Well - we've closed, and changed some verbiage about the escrow/rehab funds to something that just might work for this delayed financing BRRRR deal. Incase anyone is curious how this goes, pm me later and I'll be happy to share what I've learned

Hey Bigger Pockets People,

I'm closing on a house very soon, (Tomorrow, Friday 9/6!)

I'm planning on paying cash, putting the rehab budget in escrow, and then using the Fannie Mae Delayed Financing provision.  I'm putting a bit extra in, in case the rehab goes over.  I'll have funds sent from the escrow to contractors as work is completed, and then the remainder will be sent to me, if there is anything left.

My question's are: 

Have any of you done this before? Made any mistakes?

Is anyone out there experienced with this and willing to take a look at my ALTA to make sure we've filled it out correctly, and will be able to use delayed financing?

Thanks so much!

@Jeff P. With my own team.  Rentwell.  I did also do research on Turnkey companies, but I found that it many peoples' experiences weren't seamless and the houses weren't necessarily low maintenance (Which to me, was the draw in the first place).

Welcome to the site Jeff.  I'm in your neck of the woods (Park City), and am working on my 3rd property in Pittsburgh.  Feel free to reach out if you have any questions

Welcome to the site! @Cody Hunt

@Mike D'Arrigo Thanks for clarifying. Yes, I can tell the market is hot - which is new to me having bought homes in Pittsburgh where houses tend to sit on the market for much longer. People have been very friendly in KC, but they have plenty of other people bringing them business. I have pivoted and will most likely do my first BRRR in Pittsburgh, where I have people I trust - that way when I enter KCMO I'm not trying to do too many new things at once.

One follow up question: Are these houses being bought with inspection contingencies?  If they are, then that seems to be the time to triple check the numbers.  If there are offers being sent without the inspection contingencies, then yes, I am at a disadvantage. 

@Mike D'Arrigo I would have loved to hear your advice, it just didn't seem like you were offering anything constructive.  But thank you for wishing me well, and I apologize for the turn this conversation took.  You're right, there's many great things about this site, I've been taking in as much advice as I can, and I'm grateful to be a part of this community.

@Mike D'Arrigo If I lose big, I'll join you on this site as another BP Negative Nancy :)

I like a challenge.  I'll let you know how it goes @Mike D'Arrigo