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Updated almost 9 years ago on . Most recent reply

User Stats

31
Posts
4
Votes
Mia Gomez
  • Real Estate Agent
  • Springfield, MA
4
Votes |
31
Posts

How to start out

Mia Gomez
  • Real Estate Agent
  • Springfield, MA
Posted

so I've been working on building my credit, and I think I'm ready to start. I just wanted to know, what type of loan should I pursue if I want to buy and rehab and then rent out. I don't suppose a conventional loan would be appropriate in this aspect. I've called places and a few of them aren't ok with me renting my property out. Also, I wanted to do fix and flips but most loans are long term and won't let me sell. Please help! Thanks 

Most Popular Reply

User Stats

476
Posts
197
Votes
Kevin Harrison
  • Investor
  • Woodbridge, VA
197
Votes |
476
Posts
Kevin Harrison
  • Investor
  • Woodbridge, VA
Replied

There are some loans that will allow you to do this but I think they are more targeted at the OO aspect of things. @Upen Patel should know about this. Otherwise you many need to buy it traditionally and get a hard money type of loan to do the rehab and refinance out of it in 6 months or so.

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