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All Forum Posts by: Salvatore F.

Salvatore F. has started 2 posts and replied 2 times.

Buying & Selling Real Estate

Post: Question about flipping house with conventional mortgage?

Salvatore F.Posted
  • Investor
  • Long Island, NY
  • Posts 2
  • Votes 0

Hey - quick question.

I just got approved for conventional mortgage to flip a house.. my question is - is here a requirement for how long you must wait until you sell the house?

Any answers are greatly appreciated!

0 Votes
Buying & Selling Real Estate

Post: Questions about mortgages with 10% down in NY?

Salvatore F.Posted
  • Investor
  • Long Island, NY
  • Posts 2
  • Votes 0
Hey, im currently looking to flip a house here on Long Island, New York. Im currently looking at a house for $160k with about $15k repairs and about $240-250k ARV. I have about $40k cash in hand. Great credit. Great income. My only concern is i want to use the $40k i have for the down payment and the repairs (I will use income for holding costs if necessary). If i put down 20% on mortgage I wont have enough for repairs. What are my options? Can i get a mortgage for 10% down? Any help will be greatly appreciated!
0 Votes