All Forum Posts by: Jesse Ramirez

HMMM....Seems to me like this might be some kind of plug. Now all we need is for stephen to post the link along with an explanation on how this technique will make us the next real estate millionaires.

Hello everyone,
I've been looking for websites that have properties not listed on the MLS. Craiglist has worked pretty well for finding real estate deals. Sites like for sale by owner list properties on the MLS and from my experience don't have many deals that I could find way below market value or that I could wholesale.
Which sites do you use? Anything out there with real gems?

HML's would jump on this in most cases if it is a short term fix and flip. If you're planning to hold then local banks should be able to fill your needs considering both properties are paid off. The equity alone should do, LLC or not.
Wouldn't you agree Michael?

Would you mind releasing the name of these banks Christopher? At this point a cosigner may be needed.

That's what I was originally led to believe Christopher. Does it depend on the bank maybe? Any investor friendly banks out there?

Looking for an exclusive option to purchase contract. Please help and pm me with one if you can.

Jon, I figured that the credit and assets wouldn't matter much because the bank now had the property to back itself. Assuming I was only refinancing the amount I owed on the HML you'd think the bank wouldn't have a problem considering the equity involved.

In todays market do banks allow refinancing of a home originally financed by a HML?
Does personal credit and assets become a variable in this situation or are the numbers on the home the only thing that matter?

You guys have really opened my eyes on this one. I'm going to try to renegotiate or pull out of the deal. I have so much more learning to do.

Well the ARV was on the conservative side of the spectrum. Even if it wasn't and I sold for 120,000 wouldn't that be worth the effort.