All Forum Posts by: Aaron Beauchamp

@Aaron Krawitz You should have no problem finding non-owner occupied mortgages. There are 30 year fixed products and they are usually about a point higher in interest rates than a traditional mortgage. I would approach a lender here in the area.

@Vijaianand Thirunageswaram The process is close to residential in a way. Hard money for the rehab, which is 4 points in Origination, 65% LTV, at a 12% rate, then a refinance into a bank deal, which is 2 points in origination, 20 year am with a 5 year balloon. You will need 25% down on the bank loan.

@Zachary Negron just call a lender and they will take it from there. Different lenders require different things so find one you like and then meet there qualifications. 

@Jaime Villanueva Getting pre-approved is the first step no matter the path your going down. Get ahold of a lender and they will go through the process with you, and let you know your best steps forward. 

@Shaun Calloway I work with flippers as a lender and we are seeing that this market does not want to discount anything. People want exactly what there home is worth and not a penny less I speculate that it has to do with people understanding real estate a little more than past years. 

@Ryan McKelvey There were so many properties that were destroyed that everyone jumped in on fix and flipping the homes that were not in a flood zone. We are just now, a year later, seeing investors take some interest in these flood zone properties, and its all about getting it cheap. At this point the homes have mold and require flood insurance and will take on a flood discount that is 10% to 15% on the appraisal; in short its really hard to do the properties in a flood zone, but sometimes it works out.  

@Ryan McKelvey Yes, I hate to say it, but we saw a very large number of transactions after Harvey. People need homes and property vales weren't that affected in the city as a whole; If there were dips in value then the whole neighborhood dipped not just that home. The homes that didn't flood also skyrocketed in value so if your buy and holding they made good investments if you moved on them quick enough. Also investors started to understand quickly that looking at 500yr flood properties that don't need insurance and might not ever flood again was the niche of Harvey. I can only speak from the experiences that I had during that time; I have heard from some investors that things have gotten tough and competitive after the storm.   

@Travis Buchanan Welcome to Bigger Pockets! This is a great place for knowledge and help! Houston is hot right now happy hunting! 

@Stephen Benson You cannot deny the dogs at all unless you have evidence of being destructive or aggressive. If they are well behaved dogs then there is nothing you can do except take note that they are there. However, this only applies to dogs that have gone through the proper training and have a prescription from a doctor. The little online certificate will not do by itself he needs to have a prescription along with the correct paperwork for both animals. Unfortunately, I have been to court over this with a tenet and it is not fun. However the tenet lied about the animal so there maybe grounds to have him removed for the breach in contract if you have it in your lease. 

@Trevor Rockhill If you have a significant amount of money, then flipping for capital might be a good avenue for you. Its short term and produces instant gratification, and you can use a loan to do a flip with minimum cash in the deal. Seems like this would fit your personality flipping is about analyzing numbers and doesn't require you stay anywhere specific.