., the appraisal for 5+ is at least $2k-$3k) and the financing structure by lenders because Fannie/Freddie don't generally buy loans for commercial properties.So, for you personally, the biggest driver for the type of your next property is probably going to be the amount of a down payment/equity you can put in the property.

Id keep looking if it was not an approved short sale ( even an approved short sale takes a very very long time and theres no guarantee that you will even close on the house after months of waiting). q1)There are plenty of non traditional lenders that could offer you construction financing if the numbers make sense but it will cost you with points and a higher rate.

I have a number of lenders that I work with that will do up to 80% on a cash out refinance.

I'm happy to share my experience as both a flipper and a lender.

At that point we hired an independent appraiser and the numbers came back good and the hard money lender agreed to use them.  

Hi Jerry, BP and local Facebook groups are a great resource for meeting local agents, investors, and lenders who can provide some solid insight into the markets you're interested in.

SignaturesThis Agreement is binding upon the parties and their successors.Contractor Signature:[Printed Name] [Date]Subcontractor Signature:[Printed Name] [Date]AttachmentsScope of Work document.Project drawings/plans.Proof of insurance and licenses.Payment schedule.Note: This template is for informational purposes only and should be reviewed by a legal professional to ensure compliance with local laws and regulations.

They'd be much better off being a Hard Money Lender and make 5 times that (and every repair to their "investment house" is paid by them...So, if you put $10k down on a property and make $150/month net cash flow your Coc Return (annualized) is 18% which is Very Good.If you followed that and understand it then keep looking for a deal.

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

The non-recourse lender was actually the original seller who was financing - GEG was the middleman making a HUGE markup.