Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Kristin Haug

Kristin Haug has started 2 posts and replied 4 times.

Post: Raleigh 1 Acre Lot - No HOA - Subdivide + ADU

Kristin Haug
Pro Member
Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 4
  • Votes 5

Hello friends!

I'm trying to get creative on a home purchase in Raleigh. I'm looking at a single family house on a 1 acre lot in an area with no HOA. The house itself is built close to the right side of the lot, leaving the left side (approx half acre) free and clear. To offset the price of the house purchase, I'm wondering if it's possible to subdivide the lot and sell the vacant lot. Anyone happen to know if this is possible here and what I would need to do to make it happen?

Appreciate any insights- thanks so much!


Bonus: I'm also keen on building an ADU at some point - attached or detached (eg tiny home 1 bed studio) and wondering if anyone knows the permitting process or if these are being approved in Raleigh in non-HOA areas for affordable housing.

Thanks all and cheers!

Kristin

Post: Cash Purchase Followed by Cash Out Refi - Timing

Kristin Haug
Pro Member
Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 4
  • Votes 5

@David M.

Thanks, @David M. - super helpful!

That’s spot on- I’m not anticipating profit right away, timing/seasoning is my main concern. I can put together the cash to make the offer (and hopefully make it more appealing for the seller to accept), then close, then I’m looking to quickly finance it to pull back out the majority of the cash (75-80%) so I can deploy it elsewhere. I’ll also need to repay my family/friends loaning me some of the cash. The delayed financing loan sounds like a great option here.

I’m wondering if I could initiate that delayed financing loan in parallel while making the cash offer on the property so it’s ready shortly after closing on the transaction.

Thank you very much for the insight here!

Post: Cash Purchase Followed by Cash Out Refi - Timing

Kristin Haug
Pro Member
Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 4
  • Votes 5

Thanks @Jack BeVier - appreciate your perspectives here! I'll also look into the newer DSCR-driven products. Cheers!

Post: Cash Purchase Followed by Cash Out Refi - Timing

Kristin Haug
Pro Member
Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 4
  • Votes 5

Hi BP Community - I'm looking to invest in a new single family construction and interested in a cash out refi from the start - if it's possible. The local market is very hot and agents have highly recommended making cash offers to increase the likelihood of seller acceptance. I think I can gather the full amount in cash for this transaction (borrowing some from family), however, I don't want to keep 100% locked up and would like to do a cash out refi as soon as possible after closing, leaving a 75-80% LTV.

I spoke briefly with a friend who’s new to the mortgage business and they thought you’d need to wait 6 months after closing before being able to start this process, but they weren’t certain. Hoping someone in this awesome BP community might have insights into whether this can be done earlier than 6 months in, even if it requires taking a different strategy. Open to any and all ideas. Thank you all!