All Forum Posts by: Dan Colantonio

@Hamid Sedaghat @Sterling Chapman Thank you guys

@Justin Cooper Thanks Justin. You said "There is the potential, depending on your deal and your hard money lender, to borrower 100% of the purchase price and the repairs and even the closing costs" I need to find that lender!

@Tarik Turner I was thinking about the refinance into a standard mortgage before the rehab so I can get a regular cheaper interest rate on a foreclosed home that I originally bought for cash. Then rehab, rent, refinance or flip months after

@Stephanie P. I will look into this, thank you.

@Melvin List Thank you Melvin. I was wondering if you can use the hard money lender to just get the property, then refinance then put in some work for rehab

@Frank Geiger cash only deals, foreclosure/distressed properties that won't accept regular mortgage

Has anyone ever purchased a property via a hard money loan and then refinanced directly after into a standard 30 year mortgage?

I know I heard something like a person cannot refinance until 4 months after a purchase but is this for every lender/location?

Hello all, my name is Daniel Colantonio and I reside in Long Island, NY. I just bought my first rental property and I am looking to buy many many more in the future. I hope to eventually flip houses with cash and also house hack in the near future. I am really just looking to learn more about real estate and connect with others who love it and are already immersed in the industry. Thank you and I look forward to this experience.

I am looking into my first BRRRR house or to flip a house. I know it is good to use cash to buy it at first, but has anyone used a low down payment loan to initially buy house, then rehab and refinance? Can someone tell me how they went about the process of refinancing after a couple months of rehab? Are there any rules to the refinancing part? Is it that bad to finance the house if I can get a low down payment initially?

@Dennis Folk thank you for that information, very helpful.

@Ned Carey Yes I just spoke with a hard money lender and I think reserves is the most important thing. Thank you!