All Forum Posts by: Trevor Aydelott

The one thing I'm looking into is how to add rehab costs to the settlement statement or HUD1 whatever it is called in your state. 

This would be perfect. 

@Tri Le look at private money or partnership or call around to other hard money lenders. I'm sure you can beat 3.5 as I have hard money lenders not that expensive. 

Also as someone has stated you cannot do delayed financing if it isn't your own cash or HELOC.

But hopefully by now you figured it out. Any other questions I'm here to serve. 

Hello @Stefan D. how did your new purchase go? 

@Jake Fugman

Well hopefully you figured it out by now. 

I just want to add that with delayed financing you have to use your own cash or HELOC ( I know you said cash, but making sure it wasn't hardmoney or any type of loan. )

Also the beautiful thing about delayed financing is they treat it like rate and term as you're not pulling more money out then you purchased it. 

Now I wouldn't suggest that with the amount of capital you put into it. I would way the 6 months ( which I'm assuming you already did and well onto your other project).

And of course you can do a cash out refi as owner occupant. It's a cheaper interest rate as well. 

Oh one thing I would like to add in your situation is possibly a HELOC loan on owner occupied. It is cheaper and no cost to do. Which would give you the capital to complete the project and then you do a cash out refinance to pay back the HELOC

Hello @Gary Parilis 

With the calculations about yeah leaving the 25K might not seem that beneficial to you. And it might not be for others as well. But I would suggest waiting the 6 month seasoning period to get your money back or have a contractor give you a bid of say ( that 25K prior to closing on the property and the money be held with escrow) 

Now what I like about leaving it because you can cash flow a lot more money and they treat is as rate and term. Which is a lower interest rate. So with a lower loan balance and a lower interest rate you would make back that 25K back quickly and not over leverage yourself. ( which helps with DTI and other factors as well)

Hopefully that helps. 

Hello @Briyana Hawkins well you are in the wrong post as I'm assuming you don't have cash to purchase the entire home correct? 

-This post is about delayed financing. Which is buying a home cash ( your cash or HELOC. Not hardmoney or any other financing) You don't have to wait any type of seasoning period to pull your money back out. ( seasoning period is being on title for a certain amount of time, typically six months)

-Now what I think you are wanting to do is get into investment properties with putting 20% down, is that correct? 

Hey @Noah Lefholz how did your journey go? 

Any luck with delayed financing. Hopefully you figured it out, as as I know tons of lenders that can do it. 

Either way your seasoning period if you didn't do the delayed financing is over by now. 

-I'm currently doing a delayed financing right now. The one big thing I came across is not hurting your DTI, and that is something I figured out how to get around.

When it comes to residential investments. What are some ways to lower your insurance? What are some companies that have the cheapest insurance? 

Well @Gabrielle Martin some have not received it yet. But also they will spend it on pointless things because they cannot get evicted. But best believe they will once this is over. 

Thankfully my tenants paid. But we will see how it plays out in the future. 

This is why I'm in position if tenants stop paying @Ricardo P. 

Hopefully this ends pretty soon as I'm just getting bored. But in all reality I'm sad that this coronavirus is happening. 

But best believe I'm in position to buy me some properties and continue to find tenants.