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Updated almost 5 years ago on . Most recent reply

Bethany Carlson's profile image
Bethany Carlson's profile image
Bethany Carlson
  • Flipper/Rehabber
  • from San Diego, CA
  • Member since Feb 7, 2017
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Bethany Carlson's profile image
Bethany Carlson's profile image
Bethany Carlson
  • Flipper/Rehabber
  • from San Diego, CA
  • Member since Feb 7, 2017
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Bethany Carlson
  • Flipper/Rehabber
  • San Diego, CA
5
Votes |
18
Posts
Buying & Selling Real Estate

Using LOC for purchasing rental property

Bethany Carlson
  • Flipper/Rehabber
  • San Diego, CA
Posted

Any recommendations on LOC options for purchasing rental property?

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Clint Shelley's profile image
Clint Shelley's profile image
Clint Shelley
  • Surveyor
  • from Dothan, Alabama
  • Member since Mar 5, 2014
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Clint Shelley's profile image
Clint Shelley's profile image
Clint Shelley
  • Surveyor
  • from Dothan, Alabama
  • Member since Mar 5, 2014
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Clint Shelley
  • Surveyor
  • Dothan, AL
391
Votes |
425
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Clint Shelley
  • Surveyor
  • Dothan, AL
Replied

Hi Bethany,

i buy with a loc on each house. Bank does an arv appraisal and loans me 80% on a 6 month interest only. I buy and rehab until I hit the mark. If I over run then I'm in my pocket. After rehab, bank verfies I did the rehab as projected and covert to conventional mortgage. It's a sweet deal. Portfolio lender. Good luck.

Clint

  • Clint Shelley
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