All Forum Posts by: Jessica Johnson

Ann I do not need rehab financing, I'm paying cash for the rehab work.

Thanks Jon, Charles, and Scott for your insights. I guess Fannie 25% is the way to go! I just purchased my first home (primary) is there a certain time frame I must wait to purchase my first investment property?

Hi Jon thanks for your reply, the name of the book is Buy & Rent Foreclosures by Joseph Neilson copyrighted 2011. I have a quick follow up question to your post. If i did not use a HML or Private lender, and just purchase and do the work cash must I still wait a year to get a mortgage on it? I noticed you used refinance, but it wouldn't be refinancing if I had no initial financing on the deal at first, right? Please help me with clarification thank you.

HI ALL I am currently reading a book on real estate investing and just have a quick question on understanding some concepts. The Author stated that you could obtain 100% financing if it appraised well above what you have bought and rehabbed for the house. So basically I am suppose to purchase the house with cash, pay for the rehab work, get it appraised and then try to obtain financing from the bank? So they are initially paying back my money invested if it appraised above everything I put into it? How does this work???