All Forum Posts by: Bret Winegar

Hi, who are the wholesellers in the area? I'm looking to pickup an off-market home in the boise area for a live-in flip.

hi Chris,  things are going well.  We are up to 17 units now, but tied up all our cash in the last 4 rehabs.  Hopefully the refinances on those come through so that we can keep moving.  

hi Kendric. We found the deal on the MLS. We have found the majority of our deals on the MLS. We target properties that are difficult to get into, have bad pictures, are rented or are otherwise neglected by the masses.

Rich!  Sorry for being 5 months late.  I use SNMC.  I've been able to use two different loan officers with them in different states.

@Andrew Postell.  This thread is gold.  Thanks for posting this content!  I've got this up and running with one refi completed and 3 others in the works.  The trick is to find a lender and a title company to play ball.  I found that getting the loan officers to ask their underwriters before submitting an application to be helpful. 

@Andrew Postell  Thanks! This is really fantastic content.  I plan on using this strategy on my next property.  Do i ask the title company to file the mortgage as part of the cash purchase, or is that something that is done afterwards?

@Tim Harwick

There are a few posts on BP about delayed financing.  The strategy is to put rehab costs into an escrow account when you purchase the property.  Then when you go to refinance, you are allowed to get a loan for the "purchase price" without the seasoning requirement.  The trick is to find a lender who will interpret the rehab escrow account to be included as  part of the purchase price.  

@Bartosz Rosol

Thanks!.  yes i sent the SOW for the rehab and a list of comps.  I have challenged appraisals two additional times now without success.  I'm glad it worked on this one. 

@John T.  I'm happy with my contractor.  I've used him now on 3 additional projects.  He doesn't always stick to budget, but he does good work.

@Derrick Lind Most national mortgage brokers will loan down to ~$50K.  I used SNMC, but Prime Lending was also willing to go down to 50K