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All Forum Posts by: Christine Edwards

Christine Edwards has started 11 posts and replied 22 times.

Buying & Selling Real Estate

Post: Looking for advice on financing options to cover rehab

Christine EdwardsPosted
  • TX
  • Posts 22
  • Votes 2

I have a rental property currently leased through May 2021 with about $60,000 in equity.

I have my personal home that is in desperate need of an upgrade.  Purchased foreclosed property.  Was using savings/credit cards...etc to fix it up.  Now the items that need done are larger, i.e, siding, roof, windows, electric upgrade.  etc.etc.

The second home  current appraisal $150,000, balance 128,000.  After rehab value could be in the range of $400,000 based on recent sales of other rehabbed homes in the area.

Just not real sure which way to go from here.  I am sure I didn't include some information I should have.  Please ask questions.  I could really use some guidance on what to do.

Thank you in advance for your help

0 Votes
Creative Real Estate Financing

Post: Current financing available for owner occupied multi?

Christine EdwardsPosted
  • TX
  • Posts 22
  • Votes 2

I am looking at purchasing a multi-unit property. Does anyone know of a lender that would do this as owner occupied? I find things that say I should be able to go FHA minimum down as long as the is 4 or less units. Is this no longer the case?

Thank you in advance for your help

Christine

0 Votes