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All Forum Posts by: Keith R Henry

Keith R Henry has started 1 posts and replied 3 times.

Thanks for your response. In this situation you are correct, the house has significant structural issues and this is beyond my capabilities. I was told that cosmetic work was needed. I feel that the reno loan would make this an average deal rather than a good deal. 

I know a flipper who told me about installing an electric baseboard heater in the house during escrow so the house would have a heat source and qualify for a loan. Any stories around such as this?

Any experience starting with a hard loan and refinancing to conventional? How long before you can refinance?

Thanks for your post! I am not licensed but can do the work myself, so I dont really want to pay someone top dollar plus interest for it. Although, maybe a contractor I know would do me a favor.

So I would like to buy an REO foreclosure and have a convential loan. The house must be liveable to qualify for the loan. It will at least need finish floors and kitchen appliances. The only way I can think of to make this work is install cheap sheet flooring throughout the house and put the kitchen appliances in. Of course I would rather not do this with a house I do not own. Anyone know of another way around this or how to find another type of loan that wont beat me up on interest?

Thank you