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All Forum Posts by: Manuel Alvarez

Manuel Alvarez has started 1 posts and replied 2 times.

Buying & Selling Real Estate

Post: Issue with a non-warrantable property

Manuel AlvarezPosted
  • Rental Property Investor
  • New York City, NY
  • Posts 2
  • Votes 1

Hello BP community ! I have a problem for a deal and need your opinion. We are under contract on a property and were supposed to finance a property with a conventional loan. We have signed the closing disclosure and a few days before the closing the lender realizes that the property is not eligible for a conventional loan as it is non-warrantable because of the insurance of the HOA. The lender tells me I need to move to a non-warrantable program that is much more expensive. Also the seller never mentioned that the property cannot be financed through the conventional loan. What are my options ? Can I legally get out of the contract ?

1 Vote
Charlotte, North Carolina
Starting Out

Post: What are the pro's for purchasing Turn-key rental properties?

Manuel AlvarezPosted
  • Rental Property Investor
  • New York City, NY
  • Posts 2
  • Votes 1

@Nicholas Pedrick thanks for initiating this conversation that has brought a lot of valuable insights on turnkey investing. I am a rookie in REI contemplating investing in turnkey as I am very busy with my W2 job. Did you end up investing in turnkey and if that is the case what was your experience like?

@Ingrid Mignott how was your experience with CR of Maryland ?

0 Votes