All Forum Posts by: Alessandro A.

@Nasar Elarabi I recently spoke to first national bank and they said 6 months seasoning with 75% ltv

@Tim Sherrod I've read that with delayed financing, if you put the rehab and purchase price costs on the HUD, they will give you everything you've spent back as long as it's 75% of the arv. Seems a little complicated and intricate for a beginner like me however.

@Souvik G. Is delayed financing based off of the ARV or only the initial purchase price? I'm looking for distressed properties that need work that I can add value to. I'm looking to get 75% of the ARV. Also, do you know any Charlotte banks that do delayed financing? Thanks

I’m looking for a bank that does cash-out refi’s here in Charlotte with no seasoning period or a very short seasoning period. I’m initially purchasing the property with cash. Every bank that I’ve called has a 6 month seasoning period which is required by Fannie Mae/ Freddie mac.  Does anyone know any banks with a shorter seasoning period?

@Danielle Wolter if I’m all in at 75k, I’ll have 15k until the refinance, which I think is a sufficient number.

@Danielle Wolter Thanks. That was my original plan. Just wanted to see how other investors went about purchasing their deals and if there were any benefits to financing the purchase and rehab as opposed to using my cash.

I have savings of around 90k. I’m looking to buy a distressed property and be all in after rehab at 75k. Are there any cons to using 75k of my own savings, or should I pursue a private or hard-money loan to acquire and rehab a property. Thanks

@Alina Trigub full-time real estate investor** thanks for the distinction. I’m interested primarily in Cash-flowing brrrr’s but im definitely not opposed to flips. Guess I have some mapping out to do.

@Clark Kirkpatrick thanks for the response. Have you completed any Brrrr deals? 

If you had $100,000 to make a career in real estate, and you were young, healthy, willing to learn and get down and dirty, how would you make it happen? Living in Charlotte, NC.