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All Forum Posts by: Joel Washington

Joel Washington has started 3 posts and replied 6 times.

Post: Refinancing a Tax lien property

Joel WashingtonPosted
  • New to Real Estate
  • St Louis, MO
  • Posts 6
  • Votes 2
Quote from @Robin Simon:

It most likely depends primarily on the state of the property, typically if its a tax lien foreclosure there is typically some rehab/work to be done.  For a cash-out refi, most lenders will want to see at owned at least 6 months and leased out, but some will likely go down to 3 months.  Exceptions also possible as well, but lenders will typically want you to have some "skin in the game" to do a cash-out refi so quickly


 Thank you so much for your time and information. It was very helpful. 

Post: Refinancing a Tax lien property

Joel WashingtonPosted
  • New to Real Estate
  • St Louis, MO
  • Posts 6
  • Votes 2

When is it possible to refinance a tax lien Property you have bought? Is it the same as a house you bought. 6month to a year with a bank or is it like someone giving you a quit claim deed and can refinance instantly. If someone could answer this question for me it would be greatly appreciated.

Thank You  

Very Respectfully Joel

Post: Can I make my resident address/ live/get mail) for the basement

Joel WashingtonPosted
  • New to Real Estate
  • St Louis, MO
  • Posts 6
  • Votes 2

I was wondering could I make the basement a unit for myself. I know with 3 percent down fha loans, you have to live and make it your primary residence. Im looking at a  4 plex, but for the numbers I want I would have to live in the basement; while renting out all four units. Is this legal and can I get a mail box for the basement if it is? 

Post: Looking for St Louis, MO Contractors

Joel WashingtonPosted
  • New to Real Estate
  • St Louis, MO
  • Posts 6
  • Votes 2

No problem, I definitely will. 

Post: Looking for St Louis, MO Contractors

Joel WashingtonPosted
  • New to Real Estate
  • St Louis, MO
  • Posts 6
  • Votes 2

I want to thank you guys for the response. I really needed some guidance. Thanks again, It’s greatly appreciated. 

Post: Looking for St Louis, MO Contractors

Joel WashingtonPosted
  • New to Real Estate
  • St Louis, MO
  • Posts 6
  • Votes 2

I have been looking for contractors that are not overly priced on craigslist and by other means to no avail. I was wondering if anyone could give me some recommendations.