All Forum Posts by: Stuart Nebeker

Good morning,

Recently we bought our father in law out of his life long home. He sold it to us for what he owed $195k home value is close to $450k that gives us about $255k in equity. We want to use some of this as funding towards our first year investment. I am a contractor and would like too brrrr, but my current work load is very full.

We would appreciate any advice you have.

Have a great day

Stuart

Good morning, My wife and I are beginning in our journey. We have been saving to buy a multi family to house hack. Then my father in law approached us with the offer to buy his property for what he owes. Property appraised for $375k He owes $135 It needs about $10k in repairs and updating. He wants to give us access to the equity. That way we’re not struggling with it after he passes (probably many years away) My questions are: What are your recommendations on doing this as safe as possible for all involved. Would you recommend just my wife buy in and keep my name clear from the mortgage.

Good morning, My in-laws went through a divorce about 3 years ago. My father in-law bought out my mother in law on the house and property. We did live with him to help out o the financial side. since we moved out hes been struggling. he offered the us to buy in for what he owes 140k arv would be $450 it needs about 20k in lighter rehab. It’s a little distressed and out dated. 4/2 with potential to be a 4/3 with a 2500 sqft shop on the property, 11 acres in very desirable town near Burlington VT. He put the offer up to the whole family but everyone has opted out. The kicker he will still be living there. (My wife and I are ok with living with him but what would your advice be on moving forward with this situation/opportunity? Thank you Stuart & Samantha

Good morning, I have a off market 9 lot with a 3/2 house on the property & a 1 bed apartment above the garage total of potential 11 doors. 3 mobile home lots are empty/vacant. All park utilities are new within the last 8 years. Owner is considering owner financing. What would your key questions be about this deal? Also what would you recommend for getting this owner finance deal to go through. Thank you for your advice Stuart & Samantha

The reason I have the comp spread so far apart is the land size i got comps of houses that sold with less land and better quality house for 400 and I got some with more land and smaller houses for 300. I had trouble finding close property specs in our chittenden county. She wants 220k for the property but that’s not happening with how bad of shape it’s in. She is living in it. The reason I need to search low down payment options is I have minimal to put down but my wife and I have 720-740 credits scores so assuming the property shouldn’t be to hard I’ve read that she could carry the note for the spread from mortgage payoff to sale agreement? Thank you Vermonters for responding were in Richmond and so is the property.

Hello, I’ve been asking everyone what best for moving forward on this deal. Here’s the numbers and plan 3/2 1800 sqft with unfinished basement Built 1980 Very desirable area in Vermont 15 acres (subdividable) Comps $300-400 Needs about 45k in repair I’ve got her talked down to 170k I really want to BRRRR this property. She owes 125k on current mortgage Would you -lease option (which she likes) Or -assume her mortgage and have owner carry the rest of the note? This is my first deal But I feel I’m ready after 2 years of studying Thank you for your advice

Good morning, We are currently renting. I’ve come across a property that the owner just wants out of. It’s a hoarding house that’s very distressed but houses bones are strong. It would be a complete facelift. I’m debating BRRR-ing it or doing a live in flip since we’re renting now? Would be great to hear your thoughts. Thank you all

Hello, 

Working with a home owner that wants out. The house is very distressed. I am unavailable to get a mortgage or remodeling loan not because of credit but lack of down payment. Seller is very interested in doing Seller financing since that’s how she got her first place. She still owes a little on the mortgage. So we’re talking about a wrap. She’s finding out about the due on sale clause. My question is if I can make this work how can I protect myself as the buyer also is there any down falls to brrrr-ing this property? 

Thank you all

Hello Bp Pros,

I am a Tile and stone Contractor in the Burlington Vt area. I drive around a lot. I have seen a few homes that are vacant and I am very interested in finding the owner and calling or send a letter. 

What would be some questions that you recommend I ask on my call or in my letter? I want my first contact to be as professional as possible. I am a new Investor but I add Value to homes everyday. I'm wanting to do 2 year BRRR's.

My wife and I are available for FHA Loans, But would love to hear all financing options and opinions for longer term remodels buy & holds.

Im just leaning into it. I will be asking lots of questions. 

Thank you

Hellow Destiny, My name is Stuart from Hinesburg also just getting started in Real estate investing. I'm a local Tile & Painting contractor. I've been on BP for about a year. Welcome and contact me if I can help you in any way. Stuart