I was able to purchase a house from a couple for the cost of a title transfer fee, and a refi loan.

We set a record for our Team, serving 82 families and funding over $32 million in loans this year.We ranked in the top 5% of loan officers/teams in the entire Nation and top 3% in the State of Oregon!!

Real numbers- purchase 907k,rehab , closing costs, soft costs, 840k, all in 1.747 mil, basis for each unit should be roughly 291kappraisal of each unit minimum 400k , so 2.4 mil if for all 6.I might refi only 4 out of 6, that will cover initial loan amount.

Also consider all lenders will require to review your insurance when underwriting a loan and it's likely a violation of your existing loan documents to let the properties go uninsured even if they didn't require insurance escrows. 

Initial Financing: Used a hard money loan (HML) with 10% down, interest-only at 10.95% for 1 year.

Im assuming I will learn the markets and what it takes to get a loan ect.

I would love to connect and pick your brain a little more to understand structure of these loans! 

If you are already experiencing slim profits with a fix and flip loan, it will not be any better on a HELOC.

Will you be funding your own rehab or would you need to roll those funds into your initial loan?

My original loan amount is $323K, balance left $319K at 7% and 28 yrs and 8 months left.