If you’re in the Detroit area and looking to buy, sell, or simply connect, I’d love to chat!

Be first position until he gets the construction loan, at that time he then will have the construction loan buy out his PML out an pay any accrual interest and origination fees.

In North Jersey, buying is difficult from my beginner perspective with high prices, property tax, etc.Barrier to entry feels high in my area.

Most mortgages say the lender has the right to buy homeowner's insurance for you if you don't prove you have it.

Investment Info:Single-family residence buy & hold investment.

And although I'm grateful to have found another lender to get it done, it cost me more money in points, a higher interest rate because of the current rate was higher than previous, and I had to buy another appraisal for $750.The response I received from one of the founders of the company states: "We are not able to refund any amounts at this time as the time of quality control has passed....

They also only charge 1.5% realtor commission for the selling side and obviously nothing for the buying side.

So, is it possible to get an outright loan for say 100,000 and use that to buy, flip and sell a house for a profit?

It goes to your preference, of course, but whichever can produce the greatest ROI should be considered.There are many markets in Michigan, for example, where it is cheaper to buy an existing house and fix it up than it is to build new.That may not be the case where you are at or through the construction suppliers and contractors you may have access to.To Your Success!

Warmer' Winters: While we still experience snow, the winters here are generally milder compared to New York.Growing Market: Nashville is a booming city with an insane housing market, presenting countless opportunities for real estate investment & House Flips.We also seized the opportunity to buy a beautiful foreclosure home for $775k, which is essentially a mansion with incredible value/equity (Worth $1.3M).