All Forum Posts by: Account Closed

Do you own the land free and clear already and looking to obtain funding for construction or are you looking to acquire the land and at the same time get the funds for building?

What is the total amount of funding that you need for the entire project and what amount of liquid down payment have you set aside? Please contact and provide more details.

Buyers don't just disappear completly because there is no tax credits. On a daily basis, leases are expiring, couples are getting married, and people are relocating for various reasons. Home prices are historically low and many buyers want to take advantage of this opportunistic market. The problem is that many can not bank qualify and the ones who do have too many choices that your property is competing against the others and the foreclosures and shortsales around the corner.

If you are interested in other ways to create buyer traffic and sell your property quickly, contact me via e-mail.

Good deal or not depends on your own personal preference and tolerance. If you can analize how you acquire, hold, and exit and see that financing, property condition, property management, and resell strategries are favorable to you and don't seem like you will run into land mines, then the deal is good.

Self employ for a short time and no documentable income will be your most challenge for owner occupied home, and more so for investment even if you have good credit.

Finding a partner you have to consider how you compensate the partner and how much control you are willing to give them in the property. After all, it may not even be a good deal at all.

If those houses are such a good deal, why not considering selling your current home and pay cash for both?

If you are able to save several hundred dollars of rent each month paying your own mortgage, then you are making a good investment even though you are not actually receiving extra cash from another tenant. Save the money on the side so you can finance your next investment when the opportunity comes.

With the way that lending guidelines change on a daily basis, I would not rely on a lender giving advice on if you can cash out in 6 months. You may qualify for a refi now if you have already own the property the past 6 months, but there is no gurantee that your credit score, property value, rental income, and lender guildelines are still going to be a perfect match in 6 months.

If you already have a loan but that is only contingent to the property being fixed, look and see how much it will cost and see if it might be worth if you would do it prior to closing.

Then again, if you have $380 in cash, why not consider any other properties that may be less of the trouble?

I agree with Jon for selling your free & clear home. Loans are hard to get these days especially for investment properties. Without funding in place, your short sale is not a real deal.

Having cash will give you advantage to other opportunities, such as leveraging 20-30% on several loans (if possible) for several properties. Or buy the short sale with cash and possibily get a better discount. Or perhaps use your cash as down payment into a multi-unit property where you can have a few more tenants rather than the one with 1 bed / 1 bath.

If there are specific reasons in your area that you don't think it is a good time to sell now for a good price, these reasons are not going to be changed in the next few months and that there is no guarantee that your property value could go up or down.

Try offering owner financing to receive offers quickly and sell the note at closing to receive cash so you can move forward.

Hi Budimir,

I know it has been a while since your post and I wonder how are you doing with the selling process.

Hi Tom,

What are your investment objectives?

Does it involve acquisition of income producing properties, rehab / new construction, bulk purchases, or large scale and overseas developments?

Are you planning on buy and hold and looking for long term financing or are you working with end buyers who need financing to purchase from you?

Would you have your own credit & down payments involve or are you looking for private funding solutions that does not limit your personal holdings?

Visit our website as you will see there are programs designed for individual home buyers and seasoned investors. I'll be glad to take your call if you wish for further discussion.

Branham,

It seems like you are seeing great opportunities to buy and that a successful acquisition of a distressed new subdivision could both save you the hassels of those initial set ups as well as you could prosper at the same time that you help to prevent libilities associated with un-managed properties in your area.

Your ability to leverage into the deal would help determine whether you would only control the property of a while, or you would be able to continue what is left to completion of the construction to make the properties saleable in the near future.

Your ability to leverage also help you keep options open as other investing opportunities comes along the way such as cash flowing properties that you can receive on-going income from while you focus on reselling the homes in your subdivision individually.

There are many great opportunities in this market, however, they are not great opportunities for you if you are not able to get involved. I hope you find partners that could contribute both financial and technical efforts.