Completed Repairs

2014 Dollar Amount Of Repairs Completed:  $179,425.10

It seems that now days appraiser required repairs are almost the norm.  Looking back at the loans my team closed in 2014 over 33% had one repair or another required by the appraiser that couldn’t be completed prior to closing.  There is a misnomer out there that conventional financing is some how shielded from required repairs, that simply is not true.  Now these transaction don’t have to fall apart simply because there is a busted window or missing toilet, in fact I don’t think any transaction should fall apart because of appraiser required repairs.  We have a number of options when it comes to seeing these transactions through to closing.  You can read all those options here.  I will say setting up a repair escrow is by far the most popular option.  Infact, 93% of the borrowers that ran into repair issues chose to deal with those repairs using a repair escrow.

So we are playing a little game building a log home tracking how many loans my team gets closed that have repairs.

Each block on the house represents $500 worth of repairs we escrowed for and had completed after closing.  As you can see its the end of August and the log city is coming along nicely!

The bottom line if you “Got Repairs” you got to give me a call!

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Buying and Financing Rental Property 2022 Event

July 2022 Lunch & Learn Event and Webinar for Realtors and Investors

Working with home buyers searching for a new primary residence is a totally different game compared to working with investors and rental property.  Sure, there are similarities, but what want-to-be home owners care about is different than what an investor cares about.  Frankly, for an investor, it’s all about the money and it should be.  When someone purchases a rental property they are essentially running a business.  If we can help them run a successful business and turn a profit they will likely come back and buy more properties.

There are lots of want-to-be investors out there and the hardest part is getting started.  We are going to help unravel the maze.  We will also look at long term planning.  Often just knowing what needs to happen to acquire the next property and the next one after that is one of the keys to success.  Owning rental property can be a great way to build wealth and we are here to help.

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