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All Forum Posts by: Zackery Smith

Zackery Smith has started 9 posts and replied 22 times.

Post: Can't get started

Zackery SmithPosted
  • Posts 22
  • Votes 1
Quote from @Jason Wray:
Quote from @Zackery Smith:
Quote from @Jason Wray:

Zackery,

Are you looking for some tips and help getting your own business started or getting into REI and buying properties/

I would like to do new construction or remodeling. Take the profits and flip a house and rent. 

One of the things you can do is reach out to a few banks/lenders and have them add you to their list of "Approved Builders" just make sure you have the time and crew because it can get busy fast. If you want to buy an investment home that is "Subject to" simply find a home and do an application for a "Renovation/Construction" purchase which is basically the same thing.

Ask up front if they will allow you to use your own licensing and do the work yourself. Get the cost analysis and blue prints done and work it out with the construction loan committee and start the work draw phase.

The other options which can be a little easier is buy a home that will pass an Inspection/appraisal and not be "Subject to" but does need a lot of TLC/renovations and do it yourself. Then in 6 months when you can use a new appraisal do a cash out refinance on the New ARV and pull out Max LTV to start the process all over again.

Wow that's so insightful! I'm definitely going to do this thank you so much for the advice!

Post: Can't get started

Zackery SmithPosted
  • Posts 22
  • Votes 1
Quote from @Jason Wray:

Zackery,

Are you looking for some tips and help getting your own business started or getting into REI and buying properties/

I would like to do new construction or remodeling. Take the profits and flip a house and rent. 

Post: Can't get started

Zackery SmithPosted
  • Posts 22
  • Votes 1

I am a certified building contractor and a certified underground utility contractor. I have all the knowledge and skills but I just can't get started. Everytime I have a good opportunity it gets shut down by life or someone's stupid low price. I am working full time at a another contractors (40 million in contracts) office as a project manager. I like working there but I want more. I see the money but can't get my foot in the door.  If you can give me any advice I would be grateful. 

thank you, 

Post: 1965 home insurance canceled on me

Zackery SmithPosted
  • Posts 22
  • Votes 1

@Jason Bott I get one price $1,200 and then they have problems with the flood insurance and this and that.then it turns into $2,500. It's just a mess.

Post: 1965 home insurance canceled on me

Zackery SmithPosted
  • Posts 22
  • Votes 1

I recently bought a 1965 house off grade no central heat or air( I am willing to put a split system in there if it helps). We got insurance on it but they canceled the day of closing after I signed the documents. I was hoping there was somebody who knew a good insurance agency that could help me out. I am getting quotes from 2000 to $3,000 a year which I cannot afford. On top of that those quotes are ridiculously as they do not offer a lot of protection. I am in Florida Panhandle area if that helps. Message me if you are agent willing to help and I'll give you a call so we can discuss it.

@Randall Alan it's the insurance that has a problem with it. They don't want to insure it because there is not a permit. I'm going to see how much a roofer will charge me.

I'm trying to buy a house 1965 3 bedroom 1 bath on a canal all for 70k. I went and got all the inspections the bank wanted. Now they are saying there was never a permit pulled for a roof the owner put on.the county will not help at all because its over 10 years. The owner is dying of cancer and needs this money for his Falwell trip.(I'm letting him stay there until he dies. I am pulling all the money I have on the down payment and closing so I can't replace the roof. The owner can't pay for a new roof. It sucks because that roof is the in very good condition. Any advice would be helpful!

@Jacqui they need money for mobilization and materials. I

Wouldn't give them anything without their insurance and clear contract with a timeline. Also get the owners ID just to let them know you mean business.

Post: I need mortgage help

Zackery SmithPosted
  • Posts 22
  • Votes 1

@Kristen L Garner I went to another bank and they didn't have a problem using the 5k. I think that bank was ripping me off.

@Doug Smith wow that was such a good response! 5 starts to you!