It’s great that you’re pre-approved, but I’m curious why you’re leaning toward traditional lending instead of hard money, especially for a flip?

Starting the pre-approval process and it's been easy so far, but I do like to hear from people who have used a company before.

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

There are programs to find solds so that would be a good idea but an agent can pull directly from the MLS.

HUD performed extensive due diligence on us, and had to approve us as buyer's and our management company and mangers.

Hi @Justin Snead, I would say just make sure wherever you take the pre-licensing class is IDFPR approved. 

At least half of the videos are probably abject garbage or gurus selling a program.

Also, our team has a lot of experience in working with Sec 8 residents and getting properties approved.

Hi Umesh - I am looking at this program also.

Hi @Christopher J Driscoll I am doing something quite similar to your approach, my ADU permit should be approved quite soon, I am still waiting on my last LADWP clearance.