Arlington Texas flip?

[Eric Croson]

my wife and I got a house under contract yesterday for a home in Arlington Texas for $148000 and the ARV is around $240- 250 we figured the rehab to be around $40-50k does anyone have any recommendations for a private lender or a hard money lender that we can contact? we were also thinking of maybe turning it into an Air b&b because it is so close to all the attractions any insight on that? right now we are toying with just flipping it.

[Kevin Romines]

If you refinance it as a 2nd home, assuming it is a far enough distance from your primary residence, then the LTV would be 90% on a Fannie Mae rate and term, 2nd home loan. Basically get owner occupied type rates and only have to occupy the residence 15 days a year.