All Forum Posts by: Account Closed

You don't have to wait 6 months to refi... I know many lenders that do 30-day seasoning and 90-day. It's a matter of shopping around.

On a deal this size, for a refi cash out, my clients would pay around $4k in fees.

$14k in closing costs for a refi or the next purchase?

Private doesn't look at income and is fully based on credit and the property. They're typically long term, while hard money is short term. Hard money is usually 12-24 months and at a much higher rate. Private lending can be low 5's while hard money is usually 8% - 12%.

Getting it refinanced after just purchasing isn't the problem. In a situation like this, you'll want a private lending company, and they won't lend if you're living on/in the property.

Property doesn’t need to be primary to pull 75%. 

Private lending companies require 20-25% down.

Do you have 20% down?

@Jackson Andrews Tenants in place helps you get financing. No tenants helps you negotiate the price down.

I suppose you can view it either way.

@Logan Edmunds

Depends financially. However, if money isn’t the problem, I’d rather own hard assets than paper assets. Better for taxes, more secure and you have a bit more of control.