All Forum Posts by: Kofi Thompson

So I would need a good interest rate and provide upgrades that would yield positive ARV along with pay down and appreciation to provide 20% equity for a refinance?

Hey Team,

I am looking at home for primary use that I believe I have a seller financing opportunity on. I'm thinking 30 year amortization with 5-10 year loan with balloon at end of term at 5% interest. 

My ask is if this is a good financing model then what exit strategies will I have with interest rates being what they currently are and no realization of what they will be in 5-10 years went the loan is due?

I want to protect myself and my family from an increased mortgage through refinancing later. I wanted to vet all Exit strategies possible to know what options would best fit.  Thanks for helping in advance. 

Thank you for the feedback. This has been helpful. 

Hey Team, 

What are the details that go into buying and renovating a 40+ unit apartment complex?

The property is down to the studs and needs a new roof. This a complete remodel. 

Hey Team

i found a home that the owner is willing to seller finance but after walking I see repairs needed to exterior walls, kitchen, bathrooms, and paint and flooring

i am new to this and I am trying to figure how to make a deal since I know it needs repairs. How do I get financing or funding to cover repairs and leverage the owner finance to close a deal. 

whats the best deal to do here??

KT

My issue I don't have the down payment to cover the 20-30% left for 70-75% LTV for ANY loan including DSCR

 Hey Susan, I'm in Mississippi.  Home value is $140,000 with 70k owed. Over 700 credit and income over $140k. What options would best work?

 Hey I am in Mississippi and yes it's in my personal name. I actually lived there 15 years before buy a new home over a year ago. 

Team

i know this may seem like a simple question but how do you apply for a HELOC your first home that is now a rental property while living in your second home which is now your primary.

i just applied for BOA and was denied unexpectedly with an above 700 credit etc. 

What's the best way or place to apply for approval? 

Team, i have a property that requires work in floorboards, interior upgrades, and a outside water drainage repair/install. 

i wanted to do owner financing as there is no lien against it. What options do I have here for financing and repairs? (Is it ok to ask the owner to repair the floorboards through the entire home, if it owner financing?)

i just wanted to pay realtor fees and no down payment. 

What options do you think I have here?