All Forum Posts by: Bob Reinhard

@Mason Hickman Regrets. Commitments prevent my Cape-scapades in coming from NY.

Much success !!!

@Luke H.

Here is/are the thought(s).

1. I concur with all others.

2. From the litany of complaints and excuses that you have provided to us for the last 7 years, it seems to me that you enabled the tenant behavior tgat you now complain of.

Learn from this and the suggestions provided before my reply.

Much success !

@Cian R.

try Rob Bowen@ Patriotic insurance group, 78 brookside av, Chester NY, 845-551-8041

he's done well for my clients

Much success

Bob

So,
1. It matters not where your down payment derives from unless you have conventional financing. Private/Hard money does not care.
2. You cannot take a second mortgage for the downpayment if there is a first mortgage to pay the nut. No lender will permit that.
3. A hard money lender will generally not lend on owner occupied property.
4. You would not have done your homework if you are thinking about at hard money loan long term.
5. Look into a 203k loan.

I mention all these things because your post is scattered between an fha loan and then the words "flip" in the same post.

i know it is heresy for me to say this but when you are NEW, join a REIA or other local club to TALK with someone, and not get sidetracked with posts, many of which don't answer your questions (just read a few through out there).

Much success.

Bob

@Jeffrey Lazenby You will need to refi/cashout to pay back the first loan.

Much success

Bob

@Jason Drayer

Why is this such a phenomenal deal that you won't walk away from it?

Much success

Bob

The bank will require that the property is listed AND have an agent. You may be stuck with on the seller's end. Why not 1-remove her on your side of the equation and 2- deal directly with the HO to get the docs required by the lender yourself.

Much success.

Bob

@Ryan Blake makes sense. These are good questions to ask. Any fees, except the appraisal fees (which I require up front) are taken as a credit to me at funding.

Much success!

Bob

Hello @Brendan Dwyer

I too am trying to get a foothold on SF in the area. What nature of MF are you looking for in terms of conditions, size, etc.

Regards and success.

Bob

why not see if you qualify for a 203K loan. Look them up at HUD.gov They are rehab loans.

(I'd post the entire web address but BP won't permit it.)

Much success. :)

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