All Forum Posts by: Dave W.

Curious to know where you ended up. 

Hello all,

I'd like to know what type of options are available in this situation. 

Home is owned by an investor who just completed demo. 

Buyer has enough to complete entire renovation + 20-25% down payment. 

Basically buyer needs some bridge financing so they can do conventional financing at a later point. Buyer plans to live in home.  Buyer wants the ability to pay the Reno on their own - worst case draws can come out of escrow but should be able to use whoever they want to complete work. 

The changes that need to be done are cosmetic - bath, floors, kitchen. 

What can be done?

It seems difficult to find an exact answer on this. 

I want to buy a home that requires a quick closing. Will be able to get a private loan and pay cash. Loan must be in an LLC. After a quick rehab I'd like to do a deed transfer from the LLC to my personal name and refinance the home and use it for a primary residence.

I'd be laying out 20% plus rehab costs. Is there any complications in doing this type of transaction? 

Hey folks,

I'm currently looking at a property which is cash only pretty much.  Home is being sold as is and requires a roof replacement.  I've started looking into private lenders and have found some business which I feel comfortable with.  Home will become a primary residence once the roof repairs are complete and home is re-financed.  Normally I would say a renovation loan but I don't believe the seller wants anything to do with a 60 day closing period.

I'm very new to this so I'm trying to figure out what are the mandatory fees.

Basically I am looking at getting an interest only loan for an LLC and purchasing the home in the LLCs name. Once repairs are complete I want to do a warranty or quit claim deed transfer from the LLC to my personal name so that I can refinance.

Property is in Florida, hoping to find out how to calculate the mandatory fees for first mortgage, deed transfer.

I greatly appreciate any info.

Apparently the bid is real (too high with 5%) but the home is still not under contract so no idea what is going on. Listing agent has said that they would be willing to present an offer to the lender. 

Something else I noticed is that property is scheduled to go to county foreclosure auction in January. Is this normal? Seems kind of soon if someone is placing an offer and house is set to go to foreclosure - unless the foreclosure auction is likely to be postponed or cancelled. 

Hey folks,

If a short sale was placed on HomeSearch and is already complete, is there anyway to still submit a bid to the lender if I'm willing to bid higher than the winning bid? I assume the answer is probably no but just wanted to see if there is anyway to go directly to the lender. 

Thanks!