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Updated over 5 years ago,
Foreclosure: Mortgage/Rehab Funding Question
Hello,
I am new to real estate investing (buy and hold) and looking into my second deal to get the wheels turning. (First deal was a house-hacking concept.)
I came across a deal that happens to be a bank owned foreclosure small multi-family.
A few questions:
1. Can I get a conventional loan with a rehab loan on an investment foreclosure?
2. I am looking into back taxes on the property and doing a title search, not sure if there is any other "history" I should be looking up on the property or homework. (I will be having a contractor walk through with me to help with rehab cost, and doing comps of nearby houses that are currently going through similar rehab)
3. I was planning on only having my real estate lawyer involved in transaction. Should I have a real estate agent involved instead since I am new to the process?
4. Any other tips or pieces of advice are welcome.