All Forum Posts by: Mike Foley

ARV on dulplex is $140K and needs about $80K in work.

Will it work for fast food or Starbucks, Subway combo?   I would make a list of all the potential tenants and have an assistant start calling them and checking internet sites for info on what criteria they look for in a new site.  Obviously, you will need demographics and traffic count info.

It means that you don't have to qualify, the property does.  The lender may have you fill out a credit application and pull your credit but those are not likely to be the factors that determine whether or not they do the loan.  Sounds like the rates are going to be higher because the lender is not charging any points.  Six months is a short loan terms so I would ask for a minimum of nine months and preferable twelve.

Depends on state law, but not sure why you couldn't do it.  Of course then you are liable for the taxes and penalties owed.