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10 September 2018 | 5 replies
For example, once the home is complete how much are Fix n Flip groups spending to sell the home through a broker?
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10 September 2018 | 0 replies
Could I have bought that house and did a cheap fix to it?
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18 September 2018 | 20 replies
If they do leave, factor in the cost to remodel/fix/maintain the unit for the new tenant to come in.
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10 September 2018 | 3 replies
Hello everyone, I'm not an experienced investor I should say from my experience that I'm a terrible one, we owned a doublewide on a 1 acre lot in Gainesville Ga that took us a lot of work to pay off ($59,900 owner financed at 10% interest) but once we finish it we tried to rent it out and it didn't work, tenants destroyed the property so we left it alone for a few years.Two years ago I decided I was going to fix it myself and I did, it took me 1.5 years and at least 20k but once we finish it we had a bad storm in Georgia (Irma) and three trees fell on top of the house.
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10 September 2018 | 0 replies
Real estate investors have a variety of methods to find fix/flip deals, whether it is direct mail, driving for dollars, connecting with wholesalers or realtors, or another strategy.
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18 April 2021 | 4 replies
And of course your area may be different in terms of cost and also some jobs don't require a full cosmetic renovation, but most of mine have.Then of course check the big ticket items like HVAC, roof, exterior siding/masonry repair, windows, interior sheetrock replacement, foundation and water heater and know approximately what it will cost to fix/replace each if warranted.
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24 September 2018 | 8 replies
Looking for a loan which includes purchase price and rehab, like a fix-n-flip loan, but want a long term mortgage instead of having to refinance after 6 months.Do you exist?
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11 September 2018 | 2 replies
The Fix and Flip calculator doesn't take the loan cost into consideration, so I used the BRRRR calc, but would likely end up flipping it..
4 August 2019 | 8 replies
Closing on a triplex in Ohio City and my current lender is trying to charge me 1% origination and 5.375% fixed on a 30 year loan.
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6 October 2018 | 4 replies
Some precautions to consider:- Make sure the person who is the borrower of the underlying bank mortgage fully understands the implications of a wrap, as well as the buyer- Consider a 5 or 10yr balloon note (vs. 30yr fixed) if you are worried that the seller may have 2nd thoughts down the road- Buyers should need to bring a significant down payment to the deal so that they have skin in the game- If your state allows a Deed of Trust for the wrap note, I suggest using that document (vs. a Mortgage) as it will put a lien on the house allow the Seller to pursue a non-judicial foreclosure if the buyer does not perform.- The home insurance after the sale (the new owner is the "insured") should retain the name of the previous owner(payor of the bank note) on the insurance as "additional insured" so as to not set off any alarms with the bank.- Use a 3rd party loan servicing company to collect all mortgage and escrow payments and make all appropriate payments to the bank lender as well as seller finance lender.