All Forum Posts by: Mark Weinberg

What websites can I use to find distressed mobile homes for sale?

does anybody know whoW

What websites list any distressed mobile homes for sale?

hat websites

How do Fix N' Flip loans work? When you get the loan to purchase the property and rehab the property, when does this loan get paid off? Does the loan get paid off after I find a buyer to purchase the rehabbed property at the After Repaid Value? Or does the loan get paid off a different way?

I would like to know how much goes to a lender and how much goes to a real estate investor on a Fix N' Flip loan.  For example, if the purchase price of the property is $300,000 plus the rehab costs are $81,550 and then the After Repair Value of the property is now $479,000, what amount goes to the lender and what amount goes to the real estate investor assuming the lender financed the purchase price and rehab costs?

How do Fix N' Flip loans work?  When you get the loan to purchase the property and rehab the property, when does this loan get paid off?  Does the loan get paid off after I find a buyer to purchase the rehabbed property at the After Repaid Value?  Or does the loan get paid off a different way?

I would like to know about refinancing a Hard Money Loan on  a buy and hold property.  My questions are:

1.  If I put a down payment on the hard money loan, do I have to have a down payment for a refinancing?

2.  Can I refinance for 30 years term and no down payment?

3.  What is the process on refinancing a hard money loan to a long term loan?

I am seeking to become a real estate investor through purchasing rental properties but I have not done that yet.  I do have a 40-hour week job doing something different and I plan on leaving my job to focus on real estate full time but I then become overwhelmed by fear and then have the approach/avoidance conflict play out.  I keep delaying the time that I plan to leave my job for real estate investing.

The fear I face is a "catastrophic event" playing out in my head where I then have to deal with every obstacle put in my way to purchasing real estate.  I envision myself failing and then being broke and homeless.  I then get into real panic attacks where I then can't eat and then have to do deep breathing to try to calm myself down.

Does anyone have advice on how I can deal with this condition?

Can a private money lender or hard money lender offer 2nd Lien financing to cover 100% LTV on an investment property to buy and hold?

Can a private money lender or hard money lender offer 2nd Lien financing to cover 100% LTV on an investment property to buy and hold?

Can a private money lender or a hard money lender help a borrower out if they can't raise the full amount for the down payment on an investment property?