All Forum Posts by: Darway Dalmeida

If the rehab fund is still in escrow, will I still have to pay interest on unused funds?

Thanks Kerry,

I am having a difficult time refi 3 single rental, I owned and just don't feel like giving a hard money lender extra cash because I will be going right back to Fannie when rates dropped.  Let me called Navy Fed, I am a member.

These banks or CU do not do HELOC on investment properties as of 2023.

I have called most or all of these on the list. Anyone have anything for 2022 or newer?

I been doing this for a long time and owned close to 10 mixed properties Mostly single family residents, why working a full time job in Digital and Broadcast Media Sales. If you are not on the ground, you better of hiring a General Contractor (GC )and have time frame placed in your contract. Most Construction crew(s) have 2 or 3 jobs and waiting to see which investor pull the legal warning first. Normally, if my rehab is large, I will ask the GC for a timeframe, If he/she tells me 7 Months. I will say ok, I will add a week and 5 days more for emergency etc...  However, If my project is not concluded in 2 week after the 7 months, I will deduct 250.00 per week from your final pay. Is that okay with you? If they say yes, you are priority number 1. If they are fooling around, find another GC.

Works for me.

I am semi veteran investor but hold a Job outside of real estates investment. I am coming up on a great deal with a guy exiting his portfolio of 31 rental single family homes. The is an older gentlemen and can not manager it anymore. He is requesting $1,700,000.00. These properties combine can easily appraised for 3.2 Millions. These properties already generating $17500.00 Monthly. I used Hard money multiple times and currently owned 6 investment properties in Charlotte NC, 3 rehab and held. I do not want to use hard money on this deal and want to go out and raise the money. Who in this network can I talk to to guide me in the right direction.

I have high net worth, great income but not $1.7 liquid.

I ran into that with Penfed, do you know if Navy Fed offer home equity on rental over 4 financed?