All Forum Posts by: Michael Bacile

I felt the same way, just didn’t know if it would cause a huge stink. No the seller wasn’t there the last time we looked. I’ll just be sure not to disturb anything. Thanks @Jason D.

Hey BP, I’m going to look at property this evening and I was curious if it would be frowned upon to bring a ladder to crawl up in the attic space? There is no pull down ladder and I have reason to believe there may be some “cost cutting” going on up there seeing as how it’s a flip and I noticed cost cutting in other areas of the home. Thanks for your time 

For the life of the loan? you couldn't live there for a few years then use it as a rental? If so are there any other 3% down loans that let you accomplish this other than the FHA?

@Benjamin Piecenski hit the nail on the head, thanks!

I've been looking into a property and the selling realtor said they will not entertain an FHA offer. Conventional and cash only. I was pre approved for the Home Ready loan. Is that conventional and is there anywhere in the guidelines that say you can't rent the property out (like the conventional 97)? Thanks BP!

I don’t intended to threadjack the post but I can’t find this question answered anywhere. It also may help the OP. Can you turn the home into a rental with the Home Ready loan? I know you can’t with the Conventional 97 which is a pretty similar loan. Best of luck @John Webber!

My lender recommended that loan as well, my new lender is an ace. I’m very glad I shopped around again. He’s teaching me a lot

 Currently in negotiations with a friend who flips. Sacrificing the rental strategy for some much needed knowledge and hopefully some extra cash! I’ll be posting again.

I’m looking at a similar property, maybe even the same one. I’m currently renting near downtown and have lived in the area my whole life. DeLand rents can vary widely depending on location. 1k- 1.6k is a realistic range for a 3/2 

@Stephanie Medellin the listing agent and my current lender told me it is a cash or 203k purchase only. My lender basically dismissed that property when I went to sit in and talk more about it with her. Hence why I was talking about lender shopping. I feel like she’s not very motivated to help me figure that out.

@Eric Veronica I’m at 746 after the recent hit from my lender , just didn’t want to risk lender shopping until it dipped below that