All Forum Posts by: Freddie Williams

@Henri Meli Thanks Henri.

@Gino Barbaro Hey Gino, thanks for the advice. The size of this deal is fairly small that's why I think its a good start.  I do have a private investor willing partner with the deal. Just wondering what would the term be to refinance the project. Most refer to stabilization .... 6 months, a year?

@Matt Popilek what is a master lease ? never heard of this term. Thanks

I'm sorry for not mentioning... it is a 6 unit, 2 triplexes. @Hadar Orkibi @Grant Rothenburger.

That awesome. @Matt Popilek What you described is exactly what i am looking to do. This property is empty and I believe it can be a great start for me. Owner wants 89k, needs about 10k to rehad, more like cosmetics. with a 9 cap, after NOI ARV is a little over 200k. I would love to do a 14 unit gut remodel... My question is the time frame to do a CASHOUT REFI, after repairs are complete.

I am looking at a property that needs rehab and currently vacant. I rehabs single families and with this opportunity I can considering stepping up to commerical. What I would like to do as some have done in residential is to purchase wholesale, rehab with cash and do a cash-out refinance after all work is completely and completely rented. My question is

- is this stragety possible,

- if so what is the time frame,

- and have anyone used this strategy for their commercial investments.

I am hoping this will increase my holdings and reach my financial goals in a shorter time period than residential. Residential terms is 6 months to a year before cashout refinance. I am wondering is this is the same for commericial.

Thanks in advance for your comments. Love this site.

God Bless and stay focused !!!

I know that most lenders have a min of 50k for purchase, refi. What do you do when you have a good deal and need funding asap. Can anyone give me some advise. Have a condo that will be a good purchase with great returns.

Welcome. I am also investing in Mooresville and yes it is a hard market to invest in. I have 2 properties in town and currently looking for others. Good luck and welcome.

Upfront? I haven't came across that yet.

question, how long did you have the property before refi?

@Harjeet Bhatti Thanks. Im in the Charlotte, NC area and most banks (the ones I have spoken with thus far) will only allow cash out after 12 months of ownership. Otherwise they will go off purchase price only. I believe this is the issue @Steve Muise is having.

Still looking myself..