All Forum Posts by: Richard Mann

That is exactly who I will be working with @David Beard

@David Beard

Thanks for everyone's input.

I have been able to find a lender here locally that I verified with today there is no seasoning period. As soon as I have the rehab done I can start the refi process and close in 30 days and pay off the HML.

Scenario: Hard money loan on a buy and hold property. Rehab and then refinance at 70% of the appraised value.

Will the average bank loan 70% of the appraised value without any money down on the refinance?

Thanks

Rick

Welcome Kelly. Looks like you have already started, congratulations. There is a lot of knowledge here. Get involved and enjoy.

Rick

@Jon Holdman - I went to the county clerk and recorder online and I don't see anything newer than 2003, but I am not sure what exactly I am looking at. If I were to give you a link would you mind looking and help me understand what I am looking at and for?

OK, So I have been looking through my local trustee site trying to understand how it is put together, what information it contains, how I can use that information and suddenly came across an NED filed today with an Outstanding Principal Balance of about 24K and the home should be worth around 200K.

What should my next step be? I am still learning and have been working with a local agent looking at HUD and foreclosure homes but I think I could go at this one myself but not sure how.

Thanks

Rick

Anything is possible but I personally would be VERY skeptical. Hard to imagine that a good investor would have to find or even seek a trainee. Usually the other way around.

That's awesome! Congratulations. Keep us abreast of how it all turns out!

Ahhh. . . That makes sense. Thanks

This is a "budget questionaire" which is in essence a good renovation calculation spreadsheet from a HML here in Colorado.

MMTC Budget Questionnaire