All Forum Posts by: Noel Fleming Jones

Thanks Jon that's good info.  I was thinking about the rent stream to cover holding costs.

What percent of market value might a bank lend on a cash out refi?  Would the rent stream be the prime qualifier?  I don't have a high income on paper, though credit score is ok.

A high enough cash out would make me my own bank for small fix and flip projects.

Hi Ryan

I'll have two years this August.  It's the hoop jumping with regular banks that's got,me thinking short term money with HMLs until I can find true private money.

Do you think HMLs would collateralize my house?

I could also collateralize the house with a private investor for better rates, yes?

Thanks Ryan. I do own it clear and want to keep it. I was thinking a traditional HELOC would,be difficult because of self employment with a low net income.

Are they not as restrictive as I'm thinking?

HMLs seem more willing to deal, for a price of course.

Perhaps HLMs would just do straight loans with the house as collateral?

I recently inherited a house worth about 100K; I'll have it rented soon.

I'm self employed with good credit but a low net income.

Would HMLs be likely to give me a line of credit on the property up to about 75K for doing small fix and flips?

Thanks!