All Forum Posts by: Kevin Blanchard

@Dave Pricken you are probably better off consulting your accountant. Let me know what he says because I would be interested in the answer.

@Armand Munoz yes to all you listed!

@Michael Noto that kind of makes sense, but if the intention is to refinance and essentially pay off the hard money lender it is essentially the same as if you “fixed and flipped” it to someone else

@Jeff S. Thanks, I will definitely check that link out.

@Tim Johnson the reason is that I would need to get a FHA 203k loan, which is just painful.

@Tim Johnson that is interesting. Perhaps the title can be transferred?

So far I have only looked into two hard money lenders but both have indicated the same thing in their website, they will not fund owner occupied dwellings. Does anyone know why this is? Are they concerned about the construction that was completed?

my thought was to purchase a property with cash, do the rehab, refinance it, then occupy it, but from what it sounds like this may not work for hard money lenders. I am curious as to why...any thoughts?

does anyone know of companies that would be willing to do this?

@Manik Sewak I’ve looked at ones in the Alabama market

Hey BP,

Does anyone have any experience buying properties from Real Pro based out of Jacksonville, FL? If so what have your experiences been like?

My understanding is that they are a real estate investment company that among other things wholesales properties. Many of their numbers seem too good to be true and whenever I asked for actuals they were not able to provide any. I have looked at two properties they have listed but I was curious if anyone else has purchased property through them. By the way, I think they are members of BP.

@Jimmy Boyle I agree with what the others have said. If you find a good deal don’t pass it up. I have investment property in northern NJ but the acquisition costs plus taxes are usually too much. Plus as you said people are leaving NJ in the thousands. One county up north had a loss of over 10% population!!!