All Forum Posts by: Shaniqua Dupree

Hello,

I hope all is well. I. Could really use your financing asap. 80k total investment(purchase and rehab) with possible profit of 80k. Please contact me via email: [email protected]  or phone 5599041383

Hello All,

I have a property i am putting an offer on today. I need financing for the rehab only but if the financing is good enough i will do both puchase and rehab. Here are a few details.

930sqft

3bd/1ba

Arv 160k

Purchase 40k (in process of negotiating) will go lower

Rehab 30k

This house has so much potential. I am willing to split profit if someone has the right financing for this deal. I want to jump on it before someone else takes it from under my feet. Its located in Baltimore County, Maryland in a great location with great view. If you need more info or would like to finance this for me please let me know asap. Even if you have other creative financing i am more than willing to listen. If i didnt already have a house i would definitely buy and rehab this one and save a ton of money. 

Thanks,

Shaniqua Dupree 

5599041383

my credit score is 630 right now. Or should i wait to refi my residence then purchase another home after everything comes through? How long does it take to see funds from the refi. Id love to hear back from those who have delt with NFCU.

Its so great to see other investors know if this. I wish i would have know sooner but its great that i now have better options. I want to cash out refi or get a HELOC on my home i closed on yesterday on January 30th. But i also want to pay cash for a $8,000 home, fix it up, and refi. Does this sound like something that navy federal qill approve?

i feel like i won the nobel peace prize for finding the best way for military newbies to invest in real estate.

these are 20 year mortgages by the way.

Hello BP,

I am so glad that I can come and bring you this wonderful news. As i have been doing research on funding my flips I happen to call Navy Federal about refinancing my home and asked what the minimum mortgage they will give. They said 10k with 20% down. I was blown away. Why, because there are many homes in my area that are in the price range. I want to purchase a few and rent them out. I kept asking questions and was told that they will give a Mortgage on up to 4 properties. Then was told that they will give 65% of the ARV on these homes if getting a heloc or hel. Plus was told that on primary residences they will give up to 100% of your ARV for cash out/HELO/HEL... It felt like Christmas all over again. And these rates are not just for the military but also the family members of those in the military.

This information personally is just what i needed to hear. I have been searching for better ways to finance my projects and this is just right for me. Many people can get 2500 bucks without hurting the bank. 

Please let me know if this helps anyone. Also, this info may chamge based on your area but i am in baltimore md and got these quotes. If you have anymore questions let me know.

Thanks,

Shaniqua Dupree 

*******THIS IS FOR FIX AND FLIPS ONLY******

Hello all,

I am figuring out my financing right now but i have a few (5) properties in mind but two that i want to get ASAP. 

Property 1: $100k purchase, $20k rehab (family members works as contractors thats why this is low) ARV: $220k, $20k other fees. Rancher/3bd/1ba/big yard/great area

Property 2: $43,500 purchase $50k rehab, ARV: $165k, $15k other fees. ***MOLD*** i expect a full remediation ($30k is in the rehab cost) SFH/3bd/2ba/big yard/decent area

My Real Estate Background: Im closing on my first house December 29, 2015. Purchasing it for $165,000. I dont have equity in the home itself but equity in the value in my neighborhood. If that makes sense. My home appraised for 165k. After renovations it will appraise for 230k- 260k (prayerfully). Minor diy work with little contracting like adding a wall to make a 4th room (old owners took the wall down a long time ago), restaining cabinets, backsplash, flooring, paint walls, tile, crown molding, add tub to half bath by knocking out closet, fixing up the master bedroom en suite, etc. Plus doing the basic in the basement. 

Now getting to the financial question

How long do i have to wait to get a HELOC?

I am considering using a hard money lender will they take two deals at a time?

I want to use money from heloc to do Delayed Financing to get property number 2 what do you think? Would you do it?

Could i use the heloc as 20% for the downpayment to property 1?

How many conventional mortgages can i have at one time? Investment property!

Is it likely qualify for more investment properties with a 630 credit score?

Im going to be renting out some space in my VA approved home getting about $1,000 will that help at all with getting more mortgages for properties?

 Thanks for everything BP family. 

Jeremy thats something to consider. Thanks for your response. I do have one really good HML contact. I just really want the hands on work with someone who has done it before. I am more than willing to do this on my own if thats what it comes to. Thanks again!