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Updated over 8 years ago,

Carlos C.'s profile image
Carlos C.'s profile image
Carlos C.
  • Real Estate Agent
  • from Tampa, FL
  • Member since Apr 17, 2016
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User Stats

19
Posts
6
Votes
Carlos C.'s profile image
Carlos C.'s profile image
Carlos C.
  • Real Estate Agent
  • from Tampa, FL
  • Member since Apr 17, 2016
Connect
Carlos C.
  • Real Estate Agent
  • Tampa, FL
6
Votes |
19
Posts
Buying & Selling Real Estate

First Purchase Shut Down by Lender

Carlos C.
  • Real Estate Agent
  • Tampa, FL
Posted

We are looking at our first purchase to rehab.

Florida Foreclosure at $93k 2bed/1bath, 1080 sq ft.

purchase price would have to be $60+- for a profit

ARV: $115-125

Repair cost: 20-30k.

I called Wells Fargo and they said we need 20% down for a "investor loan". We cant do a conventional because it wont be a primary residence. Any other options out there?  

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