All Forum Posts by: Elvija Haxhaj

Hey

I am buying a home in New Jersey with cash. It's a very good deal but it needs a lot of work since no ones lived in it for a long time. Possible mold remediation and just bringing a lot of things up to date. What are the best home improvement loan options? Is it possible to get a FHA rehab loan if you own the home already. I would just need to finance renovation costs.

Okay makes sense. I was confused about that bc I read tons of information on these things and just end up overwhelmed with everything and wanted to clarify. 
So when you’re on a land contract, do you get the house/deed signed over to you or that doesn’t happen until the land contract is fulfilled ?

Hey! 
I'd like to know how to apply the BRRRR method on a land contract deal. The home I'm interested is in the historic district of Ypsilanti, Michigan. House is in living condition but the caveat is you can't do a new Reno. It has to be kept with the same style as many of the homes in that area. House is a 3 family fully occupied home.

I have the opportunity of getting it on a land contract deal. How can I get a refinance loan to buy another property if it’s under a land contract ?

I am in the Ann Arbor/Ypsilanti Michigan area. 

Thanks for your advice. 

Hi,

I found a deal for a house in New Jersey. The owner is a friend who wants 150k Cash. The house needs some work so I was wondering is it possible to get a loan from a private lender to pay him the cost of the house instead of using my own money and then convert the private loan to a conventional loan? Help I’m new to this but hear that some people do certain things like this where they don’t have to use up all of their funds. 

Thanks for all of the information. 
in one house the tenants don’t have leases but they have been paying their rent consistently as told by the current owner. So I’ve just been trying to see how to lawfully go about it. 

The tenants don’t have leases.

What about being able to pull out any form of refinance loan on the home under a land contract; is that allowable? 

Hi

So I am beginning my investing journey and have had luck of coming across two homes as a land contract deals in Ann Arbor Michigan (close to U of M) and Ypsilanti, close to EMU/Depot Town. Both are great homes, need a decent amount of work to be sold at market value (even though these days things are going well over market value) 

So my question is, if I secure a land contract with both homes, do I have a right to raise the rent on the current tenants? Or have them move out so I can do proper renovations? 
Also, will I be able to get a cash out refinance loan even though it is a land contract? 

Another question I have : do you think the sellers market will come to an end at all. I feel like it’s so hard to get a deal nowadays. Small outdated 900 sq ft houses are going for 300k in Ann Arbor.