All Forum Posts by: Stu Bennett

I have a home built in 1947 on a dirt crawl space with very little clearance. Original part of house was a cottage with two additions built on each side but clearly has settled and original floors are not level. I was under contract but home inspection killed the deal with foundation concerns on the additions. Cracks in joints at blocks and moisture in crawl. This home has been this way for nearly 80 years and is completely renovated inside with all new mechanicals with 1.5 acres and a large detached garage.

What are options for trying to sell this place without running into home inspection issues every time. (This inspector could not identify the main water and gas shut offs which are clear so I wasn’t impressed) 

Quote from @Chris Seveney:

@Stu Bennett

Sounds reasonable

You can also thank the government for this because of all the hoops originators need to go through the costs to originate a loan. I believe there have been several articles about them losing money on a lot of transactions which is also why it’s difficult getting a sub 100k loan

Thanks! Being my first I guess I was just a little shocked by it. On all the Bigger Pockers BRRR podcasts I've listened to it really hadn't come up or In didn't pay attention. This one worked out great so far so I'm not complaining! 

So I bought my first BRRR, paid cash for it through equity on my primary residence, rehabbed it with a no interest credit card, found a great tenant and just signed on the refinance cash out. I was shocked that there's about $5000 in closing fees, appraisal fee and loan generation for this. Is that normal or should I have shopped around?

New investor and member here so forgive the dumb question! I found a property that needs to be a cash deal.  I’d like to pay half with my equity line from another property, and then ask the owner to finance the other half for a two year period then i'll refinance and pay him off. If i offer a set interest rate (assuming something slightly over market rate)  i'm struggling with what the payment structure looks like. Do I base the payback on a 30 year fixed? Is there a calculator for such deals?