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26 July 2018 | 3 replies
@DJ Cummins, if you're talking about taxes and insurance escrows then no you cannot use 1031 proceeds for that.
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27 July 2018 | 5 replies
The rebuild insurance is $84/month at $170k.
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26 July 2018 | 7 replies
In working to get insurance, I found out the home was not insurable and I wouldn’t be able to complete the repairs in under 30 days to get it insured because it is currently tenant occupied until the end of the lease.I notified the wholesaler that there are some issues here and I would either need to buy it with cash (as intended) and leave it uninsured while hustling to do the roof, AC, and electric panel in under 30 days (a little tough to do with the permitting of a roof in Brevard county, FL right now).He said he’d check to see if any other buyers were interested and would “consider” refunding the assignment fee.
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7 August 2018 | 9 replies
For home insurance, I went with an average of $1200/annually, so $100/month4.
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24 May 2020 | 12 replies
Property Required docs First lien only Appraisal and inspections must be ordered by WL 1) The contract, 2) Your scope of work – this will be used 1) by our certified appraiser to help determine the ARV and 2) it will be referred to whenever you submit a draw from your repair escrow. 3) An insurance policy on the property where Investmark Mortgage named as the beneficiary (let us know if you need any insurance broker referrals) scope of work (SOW) examples – Bids from your contractor might be adequate to serve as your SOW as well.
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6 August 2018 | 3 replies
Does anyone have a recommendation for a homeowner's insurance company for a house flip?
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6 August 2018 | 13 replies
The downside, of course, is that the VA loan has a few more restrictions which can limit properties you can purchase which require more renovation for a lower price.Aside from the agent and lawyer, I would advise having a solid home inspector, CPA, contractors (general, painter, plumbing, electric etc.) on your team.
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30 July 2018 | 13 replies
Is it better to roll your taxes and insurance into your cash out refi loan or just pay them separately?
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3 August 2018 | 7 replies
With property taxes and the high cost of insurance, positive cash flow at today’s prices is a rarity
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17 August 2018 | 30 replies
The other $15K is for plumbing (isolation valves and backflow valves) that isn't up to code.