If you're doing an extensive rehab or asset re-position, a soft-money option can close in about 10 business days and you can write the offer like cash.

You will also need to account for the holding costs and soft costs when doing this kind of a project.

However, on the Limited 203k, the max rehab limit is $35k, but the contractor pricing needs to stop at $30k because of the other soft costs that need to be added to the loan. 

@Mike Palmer where are you getting your soft cost numbers from(vacancy,repairs, and capex)?

Rents are soft, prices are accelerating on rowhouses quickly, condos are flat. 

New CA State laws in 2020 allowed for a garage conversion or additional unit to be built on your lot up to 1/2 soft of current home or up to 1000sqft - due to housing demand.In my area, Santa Barbara County; these ADUS are popping up like crazy. 

It’s long been a soft goal of ours to someday own this building and restore this landmark as its been vacant for decades, but as previously mentioned we’re very green and are currently only just building out the SMF portion of our proprietary holdings.

@Deepak Bhatnagar Bloodhound Inspections - bloodhoundcpi @ gmail.com - 501 812 9133Patrick Bass - 501 681 8554

There are also "soft" second loans which are deferred until/unless you sell the house.

Always be kind but not soft be firm.