All Forum Posts by: Ben Huisman

Buy First Property

@Albert Bui I will wait the 6 months to get the most money out of it.

Thank you for your help.

@Jerry Tuzil I will be the only one on the deal from beginning to end.  I want to pull the cash out to use it to buy another property.  I figure that would be a good way to keep momentum.

@Henry J. That is a good point about the minimum loan amount.  I didn't think about that.

Thank you.

I am looking to purchase my first buy & hold property as a cash buyer. Once I purchase a property and it is cash flowing, what is the amount of time that I have to wait to refinance so I can pull my cash out?

I found a house that is in pre-foreclosure with good equity.  I have some basic information about the property:

the owner and lender

loan amount

equity in the property

What is the best course of action to take?  Do I contact the lender, or do I contact the owner? What does that process look like?  I am new to this so any information would be greatly appreciated.

@Nan Jiang I have a great realtor as well. Her name is Amy. Let me know if you would like to talk with her. 

@Curt Davis Thank you.  Good thing I asked first.

I am in the Northwest suburbs of Chicago just starting my REI education and quest. I have a very basic question on getting financing for my first flip. I don't have enough money saved to purchase a house and fund the rehab. Is it possible to get a FHA loan to fund my first purchase? If so, is that a good idea?

@Billie Forrester Please add me to your list.