Mar Now
Comparing two properties
I have a question about comparing a property I own to one I have the opportunity to buy. I want to evaluate if the second is a better deal, and if so, maybe I will sell the first. I own a SFH worth $350k with no mor...
Shanita Parker
How low can I offer?
I'm looking at getting a rehab home with a ARV of 105,000. It is a REO and has been on the market since 4-19-2007. the asking price is 69,900. The home needs updating and there was a pool in the back that was fille...
Elliot Mitchell
HELOC Terms and Interest Rates
Hey Everyone! I'm in the process of applying for my first HELOC and have a couple questions: I've called about 10 banks and compared the terms and this info is the best out of all of them:Variable interest rate @ prim...
Account Closed
Potential First Flip Deal - Questions about HML disclosure and dual agency
Long story short - I was put in contact of the owner of a very, very dilapidated home (in Los Angeles). The home has been vacant for years and the person who'd lived in the house previously was a hoarder. The famil...
Mike Schorah
When it comes to asis properties, are appraiser out of their mind
When it comes to "as-is" properties, are appraisers out of their mind???Do appraisers just appraise by taking the ARV and subtracting repairs (and not the other costs like Real Estate Commission, Title Insurance, Escr...
Mike Schorah
How does this deal sound?
I have a potential seller who has a tenant that needs to be evicted. The property would be purchased sight unseen without pictures.
ARV: $280K
Would be looking to sell the contract for $140K
Not sure if I could sh...
Kurt Heise
Hard money loans
Why do so many succesful real estate rehabbers use hard money loans when they buy a home to flip? I'm wondering why they don't use their own capital to avoid costly interest rates.
Nathan Faselt
How do you get less that 20% down on a property?
It seems like a lot of banks like to stick to their 80/20 rule how can you negotiate a better down or creative ways to get a property for cheaper?
Sebastian Marroquin
SFR + ADU in Claremont, CA
Total PITI : $2,800 p/m ADU: Rents : $1900 p/m Home : would rent for $3k per month Potential Gross cash flow: $2,100 per month Purchase: $500k Current ARV: $900k Can these numbers be achieved today with high interest ...
Kama Ward
Questions to ask builder & realtor about spec home?
I'm meeting with a builder Tuesday morning about building two spec homes. My listing agent for another deal bought a house with four extra lots on it. She said she has another money person who wants to build on two an...