All Forum Posts by: David Chappell

How much is the rehab? You could add the rehab $$ at escrow and have them add a line on the settlement statement that says repair escrow, some banks will count that plus the purchase price as the acquisition/purchase price. That way you could get around the seasoning requirement and get the purchase + rehab $$ financed. I believe this is only done through conventional lending, not sure about commercial. Hope this helps?

@Brice Bishop is that conventional lending or through the secondary market?

@Bryce Witcher another thing you can do is find a few sites that you like and that have the same functionality as what you are looking for. Pull up the source code in your browser and search for “theme” and “plugin” and it will tell you the name of the are using as well as the plugins. Hope this helps!

@Shonna Parker

That is the strategy that I used for my first rental purchase. I plan on having the refinance done in the next 30 days and will use that to pay back the HELOC on my personal resident and then hopefully find another property to do the same thing again!

 Thanks :) Just sent you a note, thank you for the help.

Congrats! I'm hoping to get mine rented before the end of the month, in the Pleasant Grove area. How is the refinance portion coming along?

 Stephanie,

If I send you a DM would you be able to send me some of the banks that offer these terms?

Good to know! I keep seeing cheap properties popup. I will most likely stick to B/C areas until I have some more experience.

@John Patton what are your thoughts on Midfield/Fairfield?

Curious to see if anyone else had any feedback?