All Forum Posts by: Stipe Ba

Found a SFH home listed for 100k. ARV for area is 220ish. Older couple lived it and they had a mold problem from leaks in the roof. Had it professionally repaired. They went above and beyond and tore a few sheets of drywall off and removed the kitchen because that's where the leak was coming down to. Theirs no kitchen cabinets and the appliances are not hooked up. Also one of the bathrooms have been gutted but the others still

Are in place and work. All the utilities run as well. Everything else looks good and done. Would I still be able to get a conventional loan , or do I need to go the investment loan route ?

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Anyone work with any good local cleveland lenders for an investment property ? ILooking at a 100k Loan. Thanks for your help

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@Austin Sine

Terrible school systems . Ideal tenants for me are families that want their kids in that school system . Also any major issues in basements I stay away from . Can be headaches down the road .

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Has anyone used a persona line of credit or recommend any other financings that would work to purchase a home at a sheriff sale auction?

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Has anyone used a persona line of credit or recommend any other financings that would work to purchase a home at a sheriff sale auction?

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Your right on that, however, you do have to agree that this is a very unique situation. Unemployment is skyrocketing. If this continues many small businesses will not be reopening which will cause even higher unemployment. Mortgage applications have dramatically decreased, along with purchases. Commercial real estate I believe will get hit much harder than SFH. It all comes down to how long this will last.. Longer it lasts the more it will affect.

Originally posted by @Avery Carl:

@Stipe Ba Are we in or heading for a recession? Yes/probably. But a recession does not equal a housing crash. The past shows us that most recessions do not actually affect home values. With the exception of the 2007-2009 recession and the 1990-91 Gulf War recession, no other recessions have impacted the housing market, if you look at the Hope Price Index data from 1975-2018.

I'm not saying that everyone shouldn't carefully analyze their deals right now, but we should always carefully analyze them.

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All Forum Posts by: Stipe Ba

Stipe Ba has started 17 posts and replied 47 times.

Post: Conventional loan with no kitchen ?

Post: Conventional loan with no kitchen ?

Post: Conventional loan with no kitchen ?

Post: Conventional loan with no kitchen ?

Post: Cleveland area lenders ?

Post: What is the deal factor that immediately turns you off of a deal?

Post: Line of credit for auction homes?

Post: Personal line of credit to purchase a home at sheriff sale auctio

Post: Anyone currently buying rentals in this market?

Post: Anyone currently buying rentals in this market?