All Forum Posts by: Nick Versetto

looking to network with a couple of legitimate wholesalers in the sw area.  

Thanks. 

I'd look into local cabinet makers.  They might have one offs or something someone didn't like.  I'm a fan of lowes open items for 100.00 that look great in a 75-100k house.  

unless you find a portfolio lender that'll refi earlier. 

 For that you'd need to hold it for 6 months so that you could use an actual appraisal and not purchase price. 

@Account Closed

I was able to purchase using a hml, rehab, rent, and the refi in under two months.  I used a conventional lender and was able to use the appraised value.  The appraisal was about 15k lite imo but still worked fine. 

95k purchase

17k rehab

150k appraisal

112k refi amount

Myself and my mortgage guy found exact comps that were less than a month old of 165k.  The appraiser wouldn't budge off his original 150k with 6 month old comps.  I was mad but the numbers still worked.  

I had to provide an extensive spreadsheet, before, and after pics. So be ready if you try to refi conventionally under 6 months. 

I'm getting ready to start another refi on Monday and that'll probably put me at about 10 total weeks of hard money on this one. 

congrats on the deals. 

congrats!