All Forum Posts by: Neil Aggarwal

Hard money lenders are going to be conservative since they are taking a risk.  You probably need to look for a finance partner.

If you are using a lender, the will probably not let you do the deed transfer yourself.

I assume you are going to do seller financing.  That will save on lender fees.

How long have you owned the properties?  I have seen banks wanting you to own the property for 2 years before they will give you a loan on it.

If you have not owned it long enough to satisfy a bank, you might be able to approach private lenders in your area.

Best thing is ask everyone (banks and non-traditional lenders) what they will do for you and see what they say.

I always thought HELOC was only for your primary residence. Am I wrong?

I am confused? Are you trying to borrow or lend money?

I know private money lenders that do this, but banks are quite strict.

I think 100% ARV is going to be highly unlikely. Am I wrong?

Since there is no written lease, you should be able to require the existing tenant to sign a new one or move out.

You can offer seller financing and write up a simple contract

Here is a guide from Nolo:
http://www.nolo.com/legal-encyclopedia/seller-financing-home-sales-30164.html