All Forum Posts by: Shafi Noss

2-4 Units often have a lower cashout limit than single family. 

If you are trying to maximize cashout many programs nowadays ask for 4 months of PITI prepaid which reduces your cashout, so finding a program that doesn't ask for that is basically equivalent to an extra 2-5% cash at closing.

@Dana Lenoir Hi Dana, I broker notes from time to time. Happy to connect. 

@Katryna Wood Hi Katrina, I may be able to set this up for you. It requires special licensing but can be done in Texas, Georgia and a few other states. 

Sounds like you are happy with the answers but here is something else to consider: 

NJ is a judicial foreclosure state so timeline to foreclose is multiple months at a minimum and could even be over a year depending on the tools you have.

Is your lender a big institution or a smaller private lender? Smaller lenders might make paperwork errors which can be used to slow things down. 

Because the foreclosure process is so slow, and nothing is stopping you from selling while it is happening, you may just have enough time to sell the property and capture the equity. 

My guess would be the market will behave inefficiently for a short time as it reacts to uncertainty from the new White House, and then it will re-stabilize into something fairly similar as what it is today. 

I use a VA I've trained for over a year and she has good comprehension. I only need her part time so if someone wanted to split her I'm interested in that.

You could improve and seller finance the land to blue collar workers that make decent income. I have experience with this business model. 

I often work with Ethan Gao who is also a lender has an office in Katy. Lease review can be remote. I can make a warm intro if you PM me your details. 

I may be able to fund this

You could ask to see the report. In IL sellers are not required to share the report, but they're not barred from it either. 

You can call the permitting office or a structural engineer you might use and ask them how long permits usually take. 

You could restructure the contract to increase your protection, but the seller won't like that. In the end you need to decide that the waiting time either is or isn't justified by your returns.