All Forum Posts by: Account Closed

Costs $65 a month.

Does anyone want to partner up to search properties?

If I close a deal in the middle of the month, will the net operating income for that month be pro rated between the seller and I?

I have $55k of equity on a recent $85k purchase (3 single family homes)

I don't want to refinance for a year.

What kind of loan should I get to use my equity to buy another property?

***the best course of action

So if I wanted to borrow against my equity to buy another property, what would be tr eat course of action?

I recently purchased a package of 3 single family homes for $85k. I put down $55k and seller carried the rest.

I haven't had an appraisal done, Zillow estimates each house is worth $10k more than what I paid.

I want to refinance but want to do so in a timely fashion, getting a good interest rate WITHOUT having to pay an appraisal it a lot of points.

How should I proceed?

Thanks

Wayne Brooks

That is what I had thought, but are there any private lenders that make exceptions like this?

Say I have a property that appraises for 150% of the purchase price.

How could I get a lender to fund 100% of the purchase price?

The purchase price is 65% of the ARV.

How should I approach the lender about this? I am still learning to speak the language of lenders.