All Forum Posts by: Noam Ofan

Thank you @Jay Hinrichs 

@Jay Hinrichs

@Jay Hinrichs - $4500/month townhouse that was purchased for $260K three years ago? nice!
Do you mind sharing pics or a full address so we can see what a $4500/month townhouse looks like in Summerlin?

@Andrew Postell Thank you

@Andrew Postell

@Andrew Postell - Great article.

So if I buy a property with a conventional 25% down loan, then rehab it and then before 6 months go by I want to refinance based on the new ARV I can't do it? I need to wait 6 months for the refinanced loan to be based on the new ARV?
Whereas if my LLC gave me the mortgage then I don't need to wait 6 months to refi based on the new ARV?

@Andrew 

@Andrew Postell - Thank you for all the info!

@Russell Brazil Thank you for the quick response.

I thought the whole "trick" here was a workaround to be able to get your money out of the deal before the seasoning period ends. Partly by adding the rehab cost the Hud1.

Can someone help me understand something here?
Say I buy a house for $100K and renovate it with another $20K which I add to the HUD1 as described here. And my ARV is then, say, $160K. How can I BRRRR more than the $120K total that was on my HUD1 during the seasoning period?

Is there something else I am missing which will allow me to do a cashout-refi based on the new appraised value of $160K if it's only been 1-2 months since I purchased the property?

Thank you for the info. 

@Thaisa Simoes Monteiro

How does one get off market deals these days? 

No, not yet. Haven’t bought a rental yet. Not sure whether or not I will at this time