All Forum Posts by: Glenn Tucker

Thanks for getting back to me. I am assuming that I only get back 70-80% of the purchase price and not the ARV. This being said if I purchase a home for $75,000 and its ARV is $100,000 I would only get $56,000 back. This has me losing $19,000 per deal. That would drain my cash quickly. Is this the only option?

I need some advice... I would like to buy and hold rentals.  I have enough cash to buy the home and fix it up with some cash to spare.  I was wanting to refi once I get a renter in and repeat the process but I have just found out that the banks will only refi on purchase price. I would have to wait 12 months before they would refi on actual value.  I really don't want to tie my cash up for 12 months.  Are there any private lenders that would lend to a investor for 12 months?  I have excellent credit and strong income.  I would like to purchase around 4 homes per year.  Any advice would be greatly appreciated... Thanks Glenn

Hello everyone my name is Glenn and I am about to try my hand at real estate investing on the side.  I am looking into buy and hold.