All Forum Posts by: Miranda Holland

Yes there are loan products that cover buy and hold with little to no rehab.  Many private lending companies offer short term loans as well as long term loans amortized over 30 years

The easiest way to get funding is through hard money and private money lenders. Approvals are primarily based on your deal and not your credit history or income 

It depends. Do you believe rates are going to go back down, stay the same, or go up? If you believe rates are going to continue to rise and you want to cash out, then you might want to do so now. 

The answer to your question is yes.  Even if it needs a little rehab, there are lenders out there who will give you a 30 yr rental loan. 

It's not as important with hard money. However, you would have to make payments on the loan while the work is being done and they would ask for a down payment. Lenders would want to know where you would find the money for all that if not your job. You could use credit cards but you would have to get some cash in your bank account to show you have enough to pay for down payment and probably holding costs as well 

As a private money broker I'm seeing a lot of this. The further you get away from 100k the harder it is to find a loan especially a cash out refi. It can be done though. I'll try to connect with you and talk more about it 

I know what you mean. I'm a broker and the farthest away you get from 100k, the less options you have to refinance.  That's something to think about when you get a cheap deal. It can hurt when it comes to the financing down the line.  

No but I guess people won't buy unless it's a good deal. We'll just have to wait and see 

I've only heard of paperstac and it's not any of those platforms. Like I said, I have an opportunity that is still pretty unique and I need to consider that in my approach.  I'm probably better off at looking for a buyer after my offer has been accepted but I have a limited time to close on the deal and don't want to do business that way 

 We're you in 1st position or 2nd?