All Forum Posts by: Charles Douglas

Hello,

My name is charles. I have been looking for homes in the Orange County NY area. I am approved for a conventional mortgage. I have found a property close to me which has been forclosed. Although I am new to this I am almost sure this home would not qualify for conventional financing. After contacting the listing agent I was directed to an auction Web page. The terms of the auction state that a closing must be completed with in 30 days. With these two restrictions I believe my only option would be a hard money or private mortgage at this point. Although I may be wrong, which is why I am here. This particular home I would be interested in living in myself once repairs are completed. I believe the home will sell in the 125k-145k range at auction. After repairs and update costs of approximately 25k. The home would be valued at 250k+. Like I said this is all new to me. What I do know is this would be a beautiful home when completed. Any information as far as what directions I should take would be greatly appreciated.  Thank you very much!!

Hello everyone,

My name is Charles, I live in the Hudson Valley,New York. I am new to the real estate market. I am looking to possibly begin flipping homes in my area. Or aquire a few rental properties in the near future. This site was recommended to me by a good friend and I look forward to any information I gain. Thanks to all in advance.