All Forum Posts by: Antonio H.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $107,000

HOT LEAD! FOR SALE! DURANT OKLAHOMA

CLICK THE LINK

https://app.rehabvaluator.com/hkhewg0b43806-H

What made you interested in investing in this type of deal?

The zip code sells homes 6 days after listing.

How did you find this deal and how did you negotiate it?

Found on Craigslist.

How did you finance this deal?

Transactional funding.

How did you add value to the deal?

Marketing, & providing a complete COMPARITIVE MARKET ANALYSIS.

What was the outcome?

CURRENT.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

https://app.rehabvaluator.com/hkhewg0b43806-H

@Shaun Weekes inbox me

@Shaun Weekes- thanks for the breakdown, I will make contact with you if that is ok

@Tarik Turner - that is great Information! 30 days would be 5/14/19. That’s next week. Would you happen to have any lenders in mind

@Shaun Weekes - thank you for taking the Time out to investigate. What would have been the best verbiage for the acquired property? A gift

@Shaun Weekes - The previous owner signed over a quitclaim deed, which I recorded. The Residential Agreement does show a $5 (five) payout. Fair cash market value is $132,000.

Are there any additional options on lenders that will approve and qualify a refinance on a property I just acquired less than 180 days ago(two weeks ago to be exact)? I just acquired a property w/no mortgage, & was pre-approved for the Loan. Then the loan officer says “((According to the guidelines, it appears you are not eligible to do a cash out refinance for 180 days. I looked at doing a renovation loan for you to do the updates to the house you would like to do, but you would not be able to take cash out at closing to pay for taxes that are in the arrears or the landscape/mowing lien on the property. You would need to be able to bring that to closing to close on the loan.))”

So my question is, are there any lenders that may look at the deal and approve a loan based upon the deal. The tax sale date is less than 40 days away. What are my options? If you understand and agree with the lender please explain why. I am always willing to learn.

@ George W. @Thank you for the reply and advice. I agree that those two options should be available.

@Upen Patel after looking at your advice I notice that my current and unique situation includes a FHA mortgage on a single family property. So with that being said this may be the very reason lenders that i've spoken to have required 15% and up w/6 months reserves. My best bet will be to refinance into a conventional loan and make sure to be 20% percent below market value (to get rid of PMI) on my current single family, in order to complete the goal of 2-4 door purchase between 3-5%. @UPEN PATEL do you believe I am on the right track with these thoughts? Also could you share any additional advice in this area?

OPEN HOUSE 6/10/18 2PM - 4PM!!

Quaint & cute midtown bungalow! Move-in ready! Nicely updated & spacious Den,Formal living w/gas replace, nice sized bedrooms,huge fenced backyard perfect for entertaining w/large deck.New roof & fresh paint,wonderful location near shopping & expressways!

WHAT I LOVE ABOUT THE HOME

Blake Montgomery, Chinowth & Cohen REALTORS , (918) 392-0900, Mobile (918) 853-8500

MLS #1820746