Buying Homepath Foreclosure

[Brandon Fallon]

Hello,
I am just beginning my real estate investment journey.
I live in Northern Virginia and there are a large number of foreclosed properties in the area that appear to be very good values.
I found several Fannie Mae properties which are eligible for homepath financing. Since I don’t want to put much money down, homepath financing appears to be a good starting point for me.
I would like to buy some townhome properties and keep them as rental properties.
Any suggestions for good homepath lenders would be appreciated. Also, if you have experience in buying Fannie Mae properties, that would be appreciated.
Thank you very much!
Brandon

[Scott Allan]

Bingo...Buying cash then refinancing may be your best bet. Once you fix it up and get it re-appraised, you may be surprised of its "new" value. Thus, your loan to value will go more in your favor for a cash out refinance...that is if you can find one :-) They are out there.