All Forum Posts by: Ryan Deasy

@Johnny Dlcrz

use hard money! if the ARV is high enough after your rehab then you should be able to get all of the rehab paid for in the loan.

@Christine Garnier

post it in a local real estate facebook group!

@Jared C.

in theory, yes i suppose that could be done. if you raised the ARV to a very high number and did a cash out refi and got paid out more than your down payment, then yes, that would work!

@Stefanie Bergmann

i know the "heart attack" feeling! glad you pulled it off. looks amazing

@Dan Sto not exactly. unfortunately alot of people use hard money and private money interchangeably and they should not. hard money is basically financing from lenders with less barriers to entry than conventional lenders and the trade off is there is a higher rate, much shorter terms (maybe 12 month or 18 months or even 6 months). typically they loan up to a % of the ARV and can roll in all of your rehab funds. if you have a deal, i can send you a quote on financing like this!

@Sean Llewellyn all of those things help boost rental value. if an appraiser is looking determine value and there are no comps, they just keep broadening their search. i would look into comparable towns that are close by and that is probably your best bet. 

 @Shannon H. i will double check, but yes i believe so. feel free to send me a message!

 sent!

helocs are generally easier to obtain and less costly than going through an entire refinance and closing process. you would be able to use it as you please long after this deal. for example, you could use it for this deal and then pay it off and do it again. futhermore, since it is on you primary, you will be able to get a better loan to value. do not quote me exactly, but a cash out refi you can probably do 75% LTV and a heloc maybe you can get into the 80s.

once you go to refinance your investment property, you will still need to qualify even though you rehabbed it and already own it. that does not guarantee you or really make it easier to qualify on the back end. the lender i work with is not a conventional lender and would be able to look past alot of the things that conventional lenders will get hung up on (self employment status, etc). happy to share more or quote your deal!

@Michael Voltner

have you considered hard money? i know the company i have used does ground up construction. may be easier than finding a true private lender. happy to help.