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Updated over 5 years ago on . Most recent reply

User Stats

103
Posts
22
Votes
Eli Gilbert
  • Investor
  • Cleveland, OH
22
Votes |
103
Posts

Good Deal- Then STUCK!

Eli Gilbert
  • Investor
  • Cleveland, OH
Posted

I am a Newbie, I have been Analyzing deals, I have 2 HML in the pipeline, A realtor feeding me deals and a potential contractor!

I know I need to build a bigger team, I am working on it!

I found what I thought was a great deal-

$85k purchase price

$25k expected rehab costs

ARV- somewhere between $160k-$200k, based on Comps!

However I’m getting stuck on the Refi stage, I’m not an American Citizen, I am in the process of applying for a green card...... My wife is an American citizen, but has a low credit score and no credit history, as we just moved here!

Any ideas of how we could started in our investing career given our situation?

Any advice would be greatly appreciated!

Thanks

Most Popular Reply

User Stats

2,655
Posts
1,414
Votes
Tom S.
  • Real Estate Investor
  • Burlington, VT
1,414
Votes |
2,655
Posts
Tom S.
  • Real Estate Investor
  • Burlington, VT
Replied

@Eli Gilbert If you qualify for the HML, just rehab the place and sell it, and pocket the profits. No need to refi if you're selling.

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