All Forum Posts by: Edward Brown

Hello,

Looking for private lender for bridge lending (3-4 months) to refi out of current hard money loan. Need 168k Property Value 225k, No repairs needed. Property located in Houston TX 77053. Property currently on market. 

 Refi 30 year fixed rate loan I even explored the option of a bridge loan and it's the same lending restrictions.

It's a single family property.

I just got off the phone with my lender to refi my new property. The loan officer let me know that I would have to bring cash to the closing table because they are only lending at 65% LTV. Has anyone else been getting similar feedback from lenders? Any recommendations on good lenders?

Please do carry insurance for all "Flips", always opt for a low deducible as well. An uninsured driver collided with one of my properties during closing causing the sale to fall through. The high deducible took nearly a quarter of the potential profit.  

Thanks Patricia for the advise however I just received an email from the buyers agent requesting to term the contract due to closing being next week and them needed to be out of their current home on the first.  My next plan of action is to take the home temporary off the market to not increase DOM, Get the property repaired then find out what my legal options are against the liable parties. 

I have a property set to close however a driver crashed into the property during a high speed chase with the police causing a significant amount of damage. Now the buy is having concerns about the closing date deadline and wants to terminate the contract. Has anyone been through a similar situation,What did you do?