All Forum Posts by: Travis Hamilton

FHA loan restrictions on flipped houses?

Remember, we are brainstorming here - there are no bad ideas :)

I'd would 2nd the option for some type of "advanced" support for paid folks (would be nice to offer everybody but I it may not make economic sense).  I have to use [email protected] as my email address here at BP rather than my normal [email protected] because emails to [email protected] never make it out of BP.  I traded at least 12 emails with support to try to get it fixed and still no love.  At the end of the day it's only an annoyance but it would be nice to have fixed one day.

Somebody much more experienced than me will need to speak to the short sale/mortgage purchase aspect of this.  Having said that, get some real repair estimates from contractors for the work required to get the house up to the comparables in the area, factor in your buying/holding/closing costs and then do the math.   

Better yet, run the numbers through the BP Flipping Calculator and let it do the math for you. 

Best of luck!

We put two different colors of this type of tile down in our home in NY.  Darker Grey in the kitchen/bathroom/laundry room and lighter brown in the master bedroom.  We thought it looked great and it really helped move our house.  We did end up going with a higher end product (some imported Italian stuff) so it was a little bit pricer than the baseline stuff you'll find at the tile outlets.  But it looked really nice and was great to put down.

Best of luck with the tile selection!

I'm with your wife on this one.

Hi @Jerry Padilla - SCORE.org is the "Service Corps of Retired Executives" and is a legit, non-profit offering small business/entrepreneurship guidance, classes, assistance all over the country.  It's not your typical "RE GURU" mentoring program by any means.

I just signed up with Score.org and was wondering if anybody has ever used SCORE and what your thoughts were about it?  Unfortunately, there isn't a SCORE office close to where we'll be living but they did already connect me with "certified" mentor and dropped me an email this morning.

I know most of the advice is going to be to find somebody local but I figured remote "smart" insight would be better than no insight at this point.... 

3rd the Hardiplank if you can afford it.  We put on a "bay" house (little house on stills out in the marsh off the coast of Long Island) a while back.  Prepainted, looks great and really holds up to the weather well.

@Justin Howe - Congratulations!  It's great to see the work and energy payoff - hopefully it's just the start of a great 2015 for you.

It looks like it's a little bit of "all the of above" going on here.  After calling all the places again a couple are managed by big property management companies that foisted me off to their online booking/questionnaire tool.  The remainder all seem like they are managed by friends (aka - real estate agents) of the owners.  

It's been 20 years since we've actually rented a home so this has been an entertaining experience to say the least.  And thank you for all your comments - they are appreciated!