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All Forum Posts by: Akintunde Bakare

Akintunde Bakare has started 3 posts and replied 7 times.

Originally posted by @Caleb Jordan:
Originally posted by @Akintunde Bakare:

So I’m looking to purchase a home that is need of repairs with a hard money loan. The only difference between me and a lot of the post I see is that I don’t want to flip it I want to actually buy it and turn it into my own personal residence. What would be the best way to go about this as I haven’t seen too many post about it. My plan was to purchase the house under my llc or s Corp and then sell it after being fully renovated to myself after I am approved with a conveniently loan! Is this process legit? Or is there an easier and better way? I always wondered  how individuals were able to find financing for buy and hold properties that don’t qualify under conventional because they need repairs.

Thanks in advance,

If you really want to do that, you could buy with HML and then refinance into a conventional loan once property is fixed up. You would need to make sure you can find a lender that is fine with transfering title out of LLC to your personal name on the refi.

Thsnk you for your response, do you know of any lenders that can do this?

@Jay Hinrichs Thank you for your response!! Do you happen to know any of the LA based HML’s that can do this?

Originally posted by @Wayne Brooks:

That would get you around the hard money restriction on them not lending for owner occupied but I think you’ll have some issues on selling to yourself since it wouldn’t be an arms length transaction. 

You could however buy/renovate with an fha 203k loan. 

 I would love to do it with an fha 203k loan but the process is lengthy!! In order to lock down a good deal bought off market most sellers want the property to close in 2 weeks or less. 

So I’m looking to purchase a home that is need of repairs with a hard money loan. The only difference between me and a lot of the post I see is that I don’t want to flip it I want to actually buy it and turn it into my own personal residence. What would be the best way to go about this as I haven’t seen too many post about it. My plan was to purchase the house under my llc or s Corp and then sell it after being fully renovated to myself after I am approved with a conveniently loan! Is this process legit? Or is there an easier and better way? I always wondered  how individuals were able to find financing for buy and hold properties that don’t qualify under conventional because they need repairs.

Thanks in advance,

Post: Finding buyers for wholesale deal

Akintunde BakarePosted
  • Dallas, TX
  • Posts 7
  • Votes 1

Hey BiggerPockets family,

I just closed on an amazing deal that includes 3 homes and one empty lot!!!! The buyer can Flip three homes or tear down and build new on 3 lots! The properties are large lot zoned for commercial/multi family/Single family! Can build up to 7 stories! Great opportunity for an amazing downtown view with condos or apartments! Other two lots zoned for single family! The Oakcliff area is booming!I’m looking for a builder/ fix and flipper to buy it from me that’s located in the Dallas market, what would be the best way to market my property to find an end buyer that can acquire a deal this massive??

Post: Anyone with access to mls?

Akintunde BakarePosted
  • Dallas, TX
  • Posts 7
  • Votes 1

@Anthony Dooley The main reason I need to access is because I’m working a 3 house plus a lot wholesale deal and I need accurate comps to decide which way I’m going to market the deal! All the properties are located together in a cul-de-sac and I’m not sure if I should go with marketing the homes as a new construction/ land selling or flipping route yet because both seem like great options but I just need to figure out how to come up with the numbers

Post: Anyone with access to mls?

Akintunde BakarePosted
  • Dallas, TX
  • Posts 7
  • Votes 1

Hello,

I am a wholesaler/ Fix and flipper in the Dallas Texas area and I am in need of access to the mls. I wanted to see if anyone knew of anyways I could gain access fast as I just acquired two great wholesale deals and just need to finish a little more research before I list the properties. I am ok with paying a cost for a username and password so if anyone doesn’t mind sharing for a few days until I regain access to the mls early next week or has any great advice I would most gladly appreciate it!